Many agencies offer loans that range from $1,000 to $25,000 per year based on your financial need and background. Loans have to be repaid, but they often have low interest rates and do not have to be repaid until after you graduate.

It is important to understand how interest is calculated and the fees associated with loans:  https://studentaid.gov/understand-aid/types/loans/interest-rates

The mission of the Capitol Technology University Financial Aid Office is to fill the gap that exists between students' cost of attendance and what students and their families can afford to pay from savings and other resources.

Capitol  Technology University Loan Code of Conduct

Capitol Technology University financial aid employees are prohibited from receiving anything of value from any lending institution in exchange for any advantage sought by the lending institution.

1. Capitol Technology University will not solicit, accept or receive any gifts whatsoever including those construed as part of a revenue-sharing practice - from lenders in exchange for advantageous loan consideration. This prohibition includes trips sponsored by lenders.
2. The University's financial aid officers are prohibited from receiving payment for serving on lenders' advisory boards.
3. Capitol Technology University will disclose the criteria used to select preferred lenders, and students must be told of their rights to borrow from companies not recommended by the school.
4. Capitol Technology University ensures that employees of lenders never identify themselves to students as employees of the University. No lender employee will work or provide staffing in the Capitol Technology University Financial Aid Office.
5. Lenders must disclose to the University the following: range of rates they charge to students at the University, the number of borrowers at each rate at the school, and the lender's historic default rates at the school. This will ensure that the Financial Aid Office will have the information they need to select preferred lenders who are best for students.
6. No lender on Capitol Technology University's preferred lender list has an agreement to sell its loans to another lender without disclosing this fact. In addition, no lender may bargain to be a preferred lender with respect to a certain type of loan by providing benefits to the University.

The University recommends lenders who maintain the highest ethical standards, business integrity, and customer service including:

1. a proactive customer communication system which provides easy access for borrowers and information regarding cumulative borrowing and repayment terms;
2. excellent problem resolution service so students and parents receive loan funds and services in a timely manner;
3. ease of application processes;
4. web-based application processes;
5. a service or marketing representative dedicated to the University;
6. easy pre-approval process for the PLUS loan program;
7. loan and debt management assistance including deferment, forbearance, and other repayment options;
8. recommendations from other financial aid colleagues as to which lenders provide the best products and services;
9. Default rate and stability of lenders.

Direct Loans

Direct Loans are low-interest loans for students and parents to help pay for their college education after high school.  You must complete the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for this loan. The lender is the U.S. Department of Education (the Department), though the entity you deal with, your loan servicer, can be a private business. 

With the Direct Loan you:

• must be enrolled on at least a half-time basis
• must complete the Free Application for Federal Student Aid (FAFSA);
• will borrow directly from the federal government and have a single contact - your loan servicer - for everything related to repayment even if you receive Direct Loans at different schools;
• Will have online access to your Direct Loan account information via your servicer's website; and.
• can choose from several repayment plans
• Must complete a Direct Loan Master Promissory Note and Direct Loan Entrance Interview.
• Before your loan money is disbursed, you may cancel all or part of your loan at any time by notifying your school. After your loan is disbursed, you may cancel all or part of the loan within certain time frames. Your promissory note and additional information you receive from your school will explain the procedures and time frames for canceling your loan.
• Federal regulation restricts the period of time for which a borrower may receive subsidized loans, in the aggregate, to 150 percent of the published length of the of the student's current educational program.  Once the student reaches that limit, he or she may borrow only unsubsidized loans and interest begins to accrue on the student's outstanding subsidized loans.

Federal Direct Stafford Loan Program (Subsidized) 

The subsidized loan allows students who demonstrate federal financial  and who are enrolled for at least 6 credit  hours to borrow  up to $3,500 for the first year(freshman) of undergraduate study; $4,500 for the second year (sophomore) year of study and $5,500 for junior and senior years of study.

Under the subsidized loan program:

• undergraduate students who have completed the FAFSA and are determined to have federal financial need are eligible for the Direct Subsidized Loan
• Interest is subsidized (paid) by the federal government while the undergraduate student is enrolled at least half time. 
• beginning with 2012-2013 award year, the federal government will not pay interest on new Federal Direct Loans during grace and deferment periods 
• Dependent undergraduate students may borrow $31,000 (no more than $23,000 of this amount may be in the Direct Subsidized Loan).
• New borrowers must complete a Direct Loan Master Promissory Note and an Entrance Interview. 
• Interest rate is fixed at 2.75%; interest doesn't accrue until the student is no longer enrolled half-time. 
• The student is responsible for paying interest on the loan during grace and deferment periods.
• The standard repayment period is up to 10 years.
• Subsidized loans carry a 1.0 origination fee and an up-front interest rebate of 5.0 percent.
• Students who are enrolled less than half-time or who have withdrawn or graduated from the University must complete the Direct Loan Exit Interview. 

 Federal Direct Stafford Loan (Unsubsidized)

All students enrolled half time - whether or not they have federal financial need are eligible for this loan program.   Students may borrow up to $5,500 or the first year of undergraduate study (freshman), $6,500 for the second year of study (sophomore), and $7,500 for junior and senior years of study less any amount of subsidized Direct Loan received by the student.  

Under the Unsubsidized Direct Loan Program:

• The interest rate is fixed at 5.5%; the origination fee is 1.0 percent; and an up front interest rate rebate equal to 0.5 of the loan amount.
• Interest accrues immediately and the student is responsible for interest payments during in-school and deferment periods.  Students may either pay the interest during in-school periods or have the interest capitalized.
• Independent students may borrow up to an additional $6,000 per year for first (freshman) and second (sophomore) years of study and $7,000 on the junior and senior levels.
• Dependent students may borrow the same amounts as listed above if the student's parent is not eligible to borrow through the Direct plus Loan Program.
• Students must complete a Direct Loan Master Promissory Note and a Direct Loan Entrance Interview.
• Students who are enrolled less than half-time or who have withdrawn or graduated from the University must complete the Direct Loan Exit Interview. 

Direct PLUS Loans

Graduate and professional students and parents of dependent undergraduate students may be eligible to borrow under this loan program. 

Under the Direct Loan Program:

• a student must be enrolled half-time
• financial need is not required
• those qualifying under this program may not have an adverse credit rating
• the fixed interest rate is 8.05%
• no aggregate limit for PLUS loans
• you are responsible for paying the interest
• borrowers must complete a Direct Loan PLUS Master Promissory Note

• If you are in a dispute about your federal student loan, contact the Federal Aid Ombudsman Group.  Please use the following information to contact the FSA Student Loan Ombudsman Group.

  Via on-line assistance: https://studentaid.gov/feedback-ombudsman/disputes

  Via telephone:	877-557-2575
  Via fax:	202-275-0549
  Via mail	U. S. Department of Education FSA Ombudsman Group 830 First Street, N. E., Mail Stop 5144 Washington, D.C. 20202-5144