Loan Programs

Loans are funds that must be repaid by the student, or parent (Parent PLUS Loan).  Loans help students defer the costs of their education until after graduation or when they are no longer enrolled at least half time.

The information provided below will provide a brief introduction of each loan program that Radford University processes for students.

We created an Education Loan Comparison Chart (PDF) which outlines the differences between each major loan program.  We hope it is helpful in understanding the differences of loan programs available to students and parents.  We encourage all students who need assistance in financing their education, to complete a FAFSA and utilize Federal Loan programs.  The Department of Education provides an excellent resource for comparing Federal and Private Loans Federal Aid First  which may assist with making decisions about funding your education.

William D. Ford Federal Direct Loan Program

The Federal Direct Loan program is offered to all students who complete the FAFSA as a part of an award package.  The loan may be offered as a Subsidized and/or Unsubsidized loan depending on the estimated family contribution as determined by the FAFSA.

If a student is utilizing a Federal Student Loan for the first time, they will also need to complete Entrance Counseling and their Master Promissory Note (loan agreement) by visiting

Federal Parent PLUS Loan

The Federal Parent PLUS Loan program allows parents of a dependent undergraduate student to borrow funds to assist in funding the student's educational expenses.  The Federal Parent PLUS Loan is a credit based loan.  A parents must complete the online application.   In order for a Parent PLUS Loan application to be certified, the student must have a FAFSA on file with Radford University.

Each aid award year, this loan is utilized, the parent borrower will need to complete a Parent PLUS Loan application and Master Promissory Note (loan agreement).  To do this they (the parent borrower) will need to log at, with their FSA ID.

*If the MPN is completed under the student's FSA ID, it cannot be processed.

Federal Graduate PLUS Loan

The Federal Direct Graduate PLUS Loan is for graduate/professional students who need additional assistance with paying educational expenses.  Students are not eligible to borrow from a Graduate PLUS Loan, unless Direct Subsidized/Unsubsidized loan limits for the academic year are exhausted.  The Direct Graduate PLUS Loan is a credit based loan.

Each aid award year, this loan is utilized, the graduate student will need to complete a Graduate PLUS Loan application.

If a graduate student is utilizing a Graduate PLUS Loan for the first time, they will also need to complete their Master Promissory Note (loan agreement) by visiting

Nursing Student Loan

The Nursing Student Loan is a Campus Based Loan, awarded to undergraduate students, enrolled in the Nursing program, and demonstrate exceptional need.  Due to the availability of funds, students who met the FAFSA priority filing deadline (Feb 1) are given first consideration for this loan.

Private Student Loans

Private Student Loans are offered by many lending institutions and are designed to help fund educational expenses not met by other means.  Private Student Loans are credit based and consist of varying interest rates depending on the lender.  As standard practice, Private Student Loans should only be considered after a student exhausts all Federal Loan program funding eligibility.

Radford University students use a variety of lending institutions to obtain additional funding.  For the sake a parity, we do not provide lender recommendations.  More information about lender Private Student Loan programs, is found on the private student loan information page.

Short Term Loan

For students who find themselves in need of minor financial assistance during the semester, students may request up to $250 to support student related expenses.  Students must have a plan to repay the funds within thirty (30) days from the time the funds are disbursed.