Educational loans are an invaluable resource for students and their parents in financing a college education as they give you the opportunity to pay your educational costs over time.

Federal Direct Student Loans

The Federal Direct Loan program offers students low-interest loans through the Subsidized and Unsubsidized Loans. Click the link above for additional details.

Federal Direct Parent PLUS Loan

The Federal Direct Parent PLUS Loan program enables parents with good credit history to borrow up to the full cost of attendance minus any financial aid. Click the link above for additional details.

Alternative Loans

Alternative loans, also commonly known as private loans, are commercial loans offered by banks and other private lenders as an option to help cover the difference between the cost of attendance and financial aid. Click the link above for additional details.

Pitzer College Loan

A Pitzer College zero interest loan may be available for students who need help with the cost of Pitzer’s Health Insurance. Contact the Office of Financial Aid for additional details.


Reference these common loan terms to familiarize yourself with the process.

Payment of federal student aid funds to the borrower by the school.
The organization that made the loan initially; the lender could be the borrower’s school; a bank, a credit union, or other lending institutions; or the U.S. Department of Education.
Entrance Counseling
A mandatory information session that takes place before you receive your first federal student loan that explains your responsibilities and rights as a student borrower.
Origination Fee
A fee charged by a lender on entering into a loan agreement to cover the cost of processing the loan. Origination fees are assessed upfront and reduce the amount paid-out for your loan.
Exit Counseling
A mandatory information session that takes place right before you graduate or drop below half-time enrollment that explains your loan repayment responsibilities and when repayment begins.
Promissory Note/Master Promissory Note/MPN
A binding legal document that you must sign when you get a loan. The MPN lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower.
Grace Period
For certain types of loans, a period of time after you graduate, leave school, or drop below half-time enrollment when you are not required to make payments.
A loan based on financial need for which the federal government pays the interest that accrues while the borrower is in-school, grace, or deferment status, and during certain periods of repayment under certain income-driven repayment plans.
A loan expense charged for the use of borrowed money. Interest is paid by a borrower to a lender. The expense is calculated as a percentage of the unpaid principal amount of the loan.
A loan for which the borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan.
Interest Rate
The percentage at which interest is calculated on your loan(s). Lower interest rates are always better.