Loans can come from the federal government by way of the university or from outside private lenders.
Loans from the federal government have to be repaid but generally have lower interest rates than commercial loans. The federal government pays the interest on these loans while students are in school at least halftime and during certain other times, such as grace periods and deferments. Students can get these loans regardless of financial need but will have to pay all interest charges. The graduate debt limit includes loans received for undergraduate study. To be eligible for an alternative loan, you must meet the criteria established by the specific lender.