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Loans must be repaid with interest. Repayment begins six months after you graduate from college or stop attending at least part time. Loans made by the federal government have much better rates and payback terms than loans from a private institution such as a bank.

If you borrow a Federal Direct Student Loan or a Parent Plus, loan information will be submitted to the National Student Loan Data System (NSLDS) and accessible by authorized agencies, lenders, and institutions.

Listed below are the loan options for ACC students.

Federal Direct Loans

The federal government's Direct Loan program provides low-interest, long-term loans directly to students and parents. The lender is the U.S. Department of Education rather than a bank.

Stafford Subsidized Loan

Available to students who demonstrate financial need. The federal government pays the loan interest while you attend college. Funds for your loan will come from the U.S. Department of Education.

Stafford Unsubsidized Loan

Awarded to students who do not qualify for the Stafford Subsidized Loan but still need additional financial assistance. The loan accrues interest while you attend college. The interest rate may differ from subsidized loans and may differ for each year that you borrow.

Parent PLUS

The Parent PLUS program is available to parents of students who enroll at least part-time, not to exceed the cost of attendance, minus any financial aid award.

These loans have a higher interest rate, and the borrower is responsible for paying the interest that accrues. The borrower’s credit history will be checked by the U.S. Department of Education.

To apply for a Parent PLUS loan: A FAFSA must be completed for the student, and the parent borrower must complete the steps to request a Direct PLUS Loan at

Private alternative loans

Private loans are not federal loans, but are considered part of a student's financial aid award. These funds are typically loaned to you by a bank or other non-educational organization.

To request a private loan and apply the funds to ACC:

  1. Complete the financial lender's loan application and promissory note.
  2. Complete ACC's financial aid application steps.
  3. Make sure you qualify for financial aid.
  4. Enroll in at least 6 credits.
  5. If you are awarded a Stafford loan, complete the entrance counseling and promissory note requirement.

Federal vs. private loans

You should explore all types of federal student aid before considering a private loan. See why federal student loans are a better option than private loans

Maximum loan debt

See yearly and lifetime maximum loan amounts set by the federal government. If you are unsure of your loan burden, you may check with the National Student Loan Data System.

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