student and parent loans

Federal Direct Loan Programs offer low-interest loans to students and parents to help cover the cost of your education. These loans are provided by the federal government, not a bank or private lender. A Financial Aid Representative will review your loan options and eligibility during the financial aid appointment. To learn more, visit studentaid.gov.

Federal Direct Subsidized Loan

This is a need-based student loan that must be repaid. The federal government covers the interest while you are enrolled at least half-time (6 credit hours or more per term).

Federal Direct Unsubsidized Loan

This is a student loan that must be repaid. Unlike subsidized loans, there is no requirement to demonstrate financial need. The amount you can borrow is determined by the college based on your cost of attendance, dependency status, and other financial aid received.

Federal Direct PLUS Loan

The Federal Direct Parent Loan for Undergraduate Students (PLUS) is a credit-based loan that must be repaid. It allows parents to borrow funds to cover any costs not already covered by the student’s financial aid package, up to the full cost of attendance, with no cumulative limit.

• Repayment Responsibility: The PLUS loan is the financial responsibility of the parent, not the student.
• Deferment Option: Payments can be deferred for six months after the student’s last date of attendance.

Private Student Loans

Private student loans may be available to you through a variety of lenders and banks to help cover the gap between the cost of attending The Modern and the amount of other funding sources, including financial aid. To assist in your search, we invite you to use:

‍Day Air Credit Union's Student Loan Search Engine

‍Through the Day Air Credit Union's platform, students can:

• Search and compare real, personalized private student loan options from nationwide lenders.
• Complete a simple form in three minutes to receive customized loan rates.
• Access user-friendly tools to evaluate and visualize your options.

This solution makes finding private student loans simple.

The Modern also works with these private lenders:
‍
‍PNC Undergraduate Private Student Loan
‍College Ave Undergraduate Private Student Loan
‍College Ave Undergraduate Private Parent Loan

Financial aid is available for those who qualify.