Loans

Financial aid loans are low-interest loans for students or parents and are often awarded based on financial need. These must be repaid.

To qualify for most loans, you must file the Free Application for Federal Student Aid (FAFSA). You need to file a FAFSA every year you are in college. Visit our How to Apply section for more information.

Here are the most common loan options taken by Ball State students:

• Federal Perkins Loans
• Federal Direct Stafford Loans
• Federal Direct Parent PLUS Loans
• Federal Direct Graduate PLUS Loans
• Private loans
• Loan consolidation

All Federal Perkins Loans, Federal Direct Stafford Loans, Federal Direct Parent PLUS Loans, and Federal Direct Graduate PLUS Loans will be submitted to the National Student Loan Data System (NSLDS). This information will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.