SFA - Student Loans

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Student Loans

Students that do not have all of their need met through other forms of financial aid may want to consider applying for federal or private loans.

The Michigan Guaranty Agency is the official State of Michigan guarantor of federal student loans and the Michigan Higher Education Student Loan Authority is the official State of Michigan lender of federal and private education loans.

FEDERAL LOAN PROGRAMS

Federal Stafford Loans
Federal Stafford Loans are offered directly to students from the government and participating lending institutions.

Federal PLUS Loans
Federal Plus Loans are offered to parents of eligible students who are enrolled in eligible postsecondary schools.

Borrower Benefits
The Michigan Higher Education Student Loan Authority (MHESLA) yields many borrower benefits including zero percent (0%) interest rates, rebates on origination fees, and much more.

Federal Perkins Loans
This is a campus-based loan program, with the school acting as the lender using a limited pool of funds provided by the federal government.

Federal Consolidation Loans
Federal Consolidation Loans are offered to borrowers that are interested in combining all of their outstanding federal student loans into one loan, with one lender, and one payment.

PRIVATE LOAN PROGRAMS
The Michigan Alternative Student Loan (MI-LOAN®) Program.
The MI-LOAN is a low interest private alternative loan for students that need assistance in covering their college costs.


	Related Content
•	Grants
•	Federal Pell Grant
•	Federal Supplemental Educational Opportunity Grant (FSEOG)
•	Federal Perkins Loan
•	Work-Study
•	Federal Work-Study
•	Adult Part-Time Grant
•	Michigan Tuition Grant
•	Michigan Work-Study Undergraduate Program
•	Michigan Work-Study Graduate Program