Grants and loans are two ways students can pay for their education. The primary difference is that grants usually do not require repayment but loans always require repayment. Find out more about your options below.
Loans, unlike grants or work-study, are borrowed money that must be repaid. These loans are a serious obligation. The school will electronically disburse your loan(s) each semester approximately three weeks after classes begin. No installment will be greater than half the amount of your loan. Your loan funds must first be used to pay for your tuition, fees, Southeast Tech laptop, and Southeast Tech housing. If loan funds remain, you will be issued a refund by the school's business office. You must be enrolled at least half-time (classes required towards your program) to be eligible to receive Direct Loans.
Federal Direct loans are either Subsidized or Unsubsidized.
As of July 1, 2016, the interest rate is fixed at 3.76% for Direct Subsidized Loans and 3.76% for Direct Unsubsidized Loans.
The Federal PLUS Loan is intended for parents of dependent undergraduate students to help pay for their student's cost of education. Approval is based on credit guidelines set by the federal government, not based on need or income, and requires no collateral. As of July 1, 2016, the interest rate is fixed at 6.31% for Direct Parent Plus Loans To apply online for the PLUS loan at Southeast Tech, please click here.