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A loan is money you borrow and must pay back with interest. Interest rates and repayment terms vary.

Although your parents may be willing to handle your finances while you are in school, it is to your advantage to know the rights and responsibilities concerning the loans. If you do not, you may find that financing your education can become overly complicated and confusing.

Remember: You will be the one signing the promissory notes for any loans you receive to finance your education. Understanding the terms and conditions of those loans will help you avoid problems during repayment. No matter how much your parents may want to assist you, you--not your parents--will be legally responsible for the loans.

Educational Loans
Temple University Student Financial Services office has primary responsibility for the administration of student loans for undergraduate and graduate students. If you apply for financial aid by filing the FAFSA, you may be offered federal loans as part of your financial aid award offer. Some federal loans are need-based; others are available to any enrolled student.

Private Alternative Loans
In additional to federal loans, students may borrow through private loans. Private alternative loans are managed through private lenders, issued in the student’s name, and require a credit-worthy co-signer. Eligibility, rates, terms, and conditions vary.  For more information, click here.

Loan Repayment
Repaying your student loans is a serious obligation. Learn more about payments, deferment and forbearance.

Loan Exit Counseling Interview
Before you withdraw, graduate or drop below half-time attendance, Temple University and the federal government require that you complete a student loan exit counseling interview.