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About student loans

Student loans are a form of aid that must be repaid with interest. Students are encouraged to consider federal loan options first. All awarded loans must be accepted by the student on the Student Portal under My Financial Aid in order to count towards the student's account balance.

Basic eligibility requirements and other factors may impact federal aid eligibility (e.g., changes in enrollment, over-awards, etc.). Private Lender eligibility requirements may vary.

Federal loans

Federal Direct Subsidized and Unsubsidized Loans 

To apply for Federal Direct Subsidized and Unsubsidized Loans, a FAFSA must be completed to determine eligibility. Students will also need to complete the Entrance Counseling and Master Promissory Note. 

Federal Direct Parent PLUS Loan 

To supplement aid, parents of dependent students can apply for a credit based Direct Parent PLUS Loan. Eligible students must have a FAFSA on file for the applicable academic year. The parent will also need to complete a PLUS Master Promissory Note.

Private student loans

Students who do not qualify to borrow funds from the Federal Direct Loan program or need additional funds to help pay for educational costs may seek loans through private loan companies (e.g., banks and credit unions). Centra College recommends private student loans only be considered as a last resort as they typically offer less favorable interest rates and repayment terms than federal student loans. 

Below is a historical list of private lenders, who have provided private non-federal educational loans for students at Centra College within the last three years. Please note that borrowers can choose to use any private educational loan provider, even one that is not included on this list. If approved for a private student loan, please notify the Financial Aid Office by emailing