The Office Of Student Financial Aid would like to stress that it is important for both the student and the student's family to carefully consider other financial options to maintain a manageable debt burden. Always borrow conservatively. Low interest loans, subsidized by the federal government are available to students based on need. Interest and repayment of these loans are deferred until you graduate or leave school. The two main student loan programs are the Federal Subsidized Stafford Student Loan and the Federal Perkins Loan.
Interest rates are variable at the time of application.
You are not charged for interest until you begin repayment. The Office of Student Financial Aid will use the information provided by your Student Aid Report to determine your eligibility and then will instruct you how to apply for the loan through a lending agency. The amount of Federal Perkins Loan Funds are limited and the awards tend to be smaller than in the Federal Stafford Loan Program. Since funds are administered by UVa-Wise, no separate application is needed. Federal Unsubsidized Stafford Student Loan Program provides loans to middle income borrowers who do not qualify in whole or part for federal interest subsidies under the Federal Subsidized Student Loan Program.