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Loans allow you to invest in your future. According to the Census Bureau, a bachelor's degree significantly raises your lifetime earning potential (over an adult's working life, high school graduates earn an average of $1.2 million; bachelor's degree holders earn about $2.1 million - Day and Newburger, 2002).

In 2007 more than 5,500 University of Arkansas students relied on loans to pay for their education. 

Good things to know:

• The interest you pay on most student loans is lower than commercial rates, because in most cases the federal government subsidizes the rate.
• Student borrowers don't begin to repay Perkins or Stafford loans until they leave school or drop below half time.

Good thing to remember:

Student loans must be repaid! Consider all of your financial aid options, and your post-degree earning potential, before taking out loans.

Major loan programs include:

• Federal Perkins Loans
• Stafford Loans
• Federal Family Education Loan (FFEL) Program

Terms vary depending on the loan. Typically, the more hours you complete, the more money can be borrowed. Remember, in most cases students must begin repaying their loan within a year of graduation.

For more information visit the University of Arkansas Financial Aid Web site.