To cover the expense of higher education, many families choose to spread the costs over time by taking out loans. The following educational loans are not based on need and may be used to pay a family’s share of costs, without reducing eligibility for need-based aid.
Unsubsidized Ford Federal Direct Loans are available to students who complete the FAFSA and do not borrow the maximum Subsidized Ford Federal Direct Loan.
Federal PLUS Loans allow parents of dependent students to borrow up to the cost of education, minus any financial aid received. The PLUSLoan is guaranteed by the federal government and funded by private lenders. The program allows parents to spread the cost of education over a 10-year period.
Supplemental Loans are designed to help students who need additional assistance with educational costs. In most cases, it is advantageous for students to pursue Unsubsidized Ford Federal Direct Loans and for parents to pursue Federal PLUS Loans before seeking alternative loans. A major advantage of these two programs is that the federal government caps the interest on the loans.
Each of the loan programs listed below offers zero fees, borrower discounts during repayment, excellent service, and electronic application processing and fund delivery.
- Sallie Mae Smart Option Loan
- College Ave Student Loans
- PNC Solution Loan
- Discover Student Loans
- Union Federal Private Student Loan
- Suntrust Custom Choice Loan
- Wells Fargo Collegiate Loan
- Citizens One Student Loan
You are not required to borrow from one of the loan programs listed above. We invite all lenders who would like to be considered for inclusion on this list to submit a proposal to the Wake Forest Office of Student Financial Aid. All proposals must include: origination fees, range of interest rates, range of Annual Percentage Rates, monthly payments, number of payments, total cost of loan, due date of first payment, and borrower benefits.