Instructional Leadership, emphasis: K-12 School Leadership (MEd)
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  1. NAU
  2. Paying for college
  3. Guide to financial aid
  4. Student loans

Student loans

What you need to know

Loans may be offered as part of your financial aid package, and we can help you understand the types of loans, deadlines to accept them, and how they might be a good fit for you.

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In order to be considered for federal financial aid if you are enrolled at least half time (6 credit hours for undergraduate students and 5 credit hours for graduate students), you must complete the Free Application for Federal Student Aid (FAFSA) each year. Use NAU school code 001082 on the form. Institutional aid and some scholarships also depend on FAFSA information.

FAFSA application

Types of loans

A loan is money that you borrow and must pay back with interest, so be sure you understand who is offering the loan and the conditions you’re agreeing to. Student loans may come from private sources, such as a financial institution, or from the federal government. Federal student loans usually have lower interest rates and more flexible repayment options.

Examples of student loans include:

  • Direct subsidized loans are need-based.
  • Direct unsubsidized loans are offered but not based on financial need.
  • Federal PLUS loans help students and parents pay for educational expenses not covered by other financial aid.
  • Private loans are offered by banks and education lenders rather than the federal government. They are intended to help fill the gap between financial assistance offered to students and the total cost of attending school.
  • Federal nursing loans are available to eligible students in the NAU College of Nursing.
  • Learn about single-semester financial aid if you are attending just one semester. Note that your loan will be adjusted accordingly.

Deadlines to accept loans each term

All Title IV loans (subsidized, unsubsidized, PLUS) will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system. Students view and manage their account regularly through StudentAid.gov to track their loan amounts.

Learn about federal student loan repayment