If your financial aid award package includes an education loan, you are responsible for applying for the loan. Instructions are generally provided with the award letter.

Even if an education loan is not a part of your financial aid award, you may get a loan if you cannot meet the Expected Family Contribution (EFC) from your savings or current income.

Loans have made higher education possible for millions of students, but you should consider your options carefully before borrowing and limit borrowing to only the amount necessary.

Don't borrow more than you need. Every dollar you do not borrow is a dollar you do not have to pay back.