Think about your future today. Before accepting or applying for any loan, we strongly urge you to look for scholarships, grants and employment opportunities first.
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, introduces significant changes to federal student loan programs. Beginning July 1, 2026, the legislation will implement lifetime borrowing limits, eliminate Graduate PLUS loans, set new borrowing limits for Parent PLUS loans, and replace all existing income-driven repayment (IDR) plans with a new program known as the "Repayment Assistance Plan" (RAP).
If you have to get a loan, think about all the factors to choose the best option for you. Things like loan servicing fees, interest rates and repayment plans are important. Always remember that loans are a form of aid that must be paid back within a specific time. This could be after you graduate or after you leave college or fall below half-time enrollment. To learn more about federal loans, watch Types of Federal Student Loans.
The William D. Ford Federal Direct Loan Program offers all federal direct loans. At USC, students are automatically awarded federal direct subsidized and/or unsubsidized loans as part of our financial aid offer to students. As the student, you have the choice to accept or decline a loan.
PLUS loans are federal loans that graduate or professional students and parents of dependent undergraduate students can use to help with college costs. You should only borrow what you need and can repay.
Private loans are offered through lenders such as banks, credit unions or state agencies. You can choose any lender you like.
The S.C. Teachers Loan Program began to encourage S.C. residents interested in teaching to teach in areas of critical need to help the state’s educational goals. These loans are provided by the South Carolina Student Loan Corporation.
The goal of this loan program is to develop health professional students from various backgrounds. Learn more about this loan program to start you on your path towards your career.
Explore student loan repayment options and learn tips to help you manage your student loan debt.