Federal Student Loans

Federal student loans are available to most undergraduate, graduate, and professional students regardless of income. Loans can help students pay their tuition and fees and other educational & living expenses while they are students.

Loan Counseling and Master Promissory Note

Federal student loans require Entrance Counseling and a Master Promissory Note to be completed prior to disbursement. Exit Counseling is required upon graduation to review the terms and conditions of what the student has borrowed. For more information:

Master Promissory Note Undergraduate, Graduate, and Parents

Loan Counseling Undergraduate & Graduate

Parent PLUS Counseling

Characteristics of Federal Student Loans

  • Low interest rates
  • Affordable repayment options
  • Deferment options while attending school or experiencing financial hardship
  • Loan forgiveness benefits for qualifying situations and/or professions

Explore Federal Student Loans by Student Type

Loans for
Undergraduate Students
Loans for
Graduate & Professional Students
Loans for Parents of Dependent Undergraduate Students

Private Loans

Private loans, also known as non-federal loans, can help bridge the gap between financial aid and the cost of attendance. These loans are offered by private banks, credit unions, or state-affiliated organizations, and have terms and conditions that are set by the lender.

Students apply for private loans through their lender of choice. If approved, or to make changes to the amount of a previously approved private student loan, students must complete the appropriate academic year Non-Federal Private Loan form on the UNLV Office of Financial Aid & Scholarships forms page.

Repaying Your Student Loans

Students have a grace period of six months after they graduate, withdraw, or drop below half-time enrollment before they are required to begin repaying their loans. The grace period of a loan depends on the loan you are borrowing. More information about a loan’s grace period can be found within the Master Promissory Note.

Deferment

Deferment is a temporary postponement of repayment that is allowed under certain conditions. During this time, interest may still accrue on the loan. Students who are interested in exploring this option will need to submit a request to their loan servicer and demonstrate that they meet the eligibility requirements for deferment. Students can log into their Federal Student Aid account to view their loan servicer or they can contact the Federal Student Aid Information Center. Students who are enrolled in a degree-seeking program and maintain half-time enrollment can receive in-school deferment.

Loan Forgiveness

In certain situations, a student can have their federal loans forgiven, canceled, or discharged. The most common way to apply to have federal student loans forgiven is through Public Service Loan Forgiveness (PSLF).

You may qualify for loan forgiveness if you work full-time for a public, non-profit, or certain private-sector public service agency and repay your loans under an Income-driven Repayment Plan. After 120 qualifying payments, any remaining loan balance would be forgiven.

In addition, borrowers on income-driven repayment plans will have any remaining loan balance forgiven after a maximum of 20-25 years of repayment. See Student Loan Forgiveness for more information.

Repayment Benefits for Federal Direct Loans

The benefits of Federal Direct Loans include various repayment options such as:

  • Standard Repayment Plan
  • Graduated Repayment Plan
  • Extended Repayment Plan
  • Pay As You Earn Repayment Plan 
  • Income-Based Repayment Plan
  • Income-Contingent Repayment Plan
  • Saving on a Valuable Education (SAVE) Repayment Plan

More information about repayment plans can be found on the Federal Student Aid website.