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My USC Salkehatchie

Student Loans

Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest  Before you borrow, consider carefully how much you will need to borrow and the burden your loans will impose after you leave school. The Financial Aid Administrator at your institution can provide you with more information on the responsibilities you assume when you borrow money.

Entrance and Exit Loan Counseling

It is required by law that all students receiving Perkins and Direct Loans undergo both entrance and exit counseling. This counseling provides critical information about your loans and your rights and responsibilities as a student borrower.

Federal Perkins Loan Program

The Perkins Loan program is a low-interest (5%), long-term educational loan program available to undergraduate students demonstrating exceptional financial need. Interest is not charged, and repayment does not begin until 9 months after you graduate, withdraw from school, or your enrollment drops below half-time status.

You are required to complete Perkins entrance loan counseling each academic year that you are awarded a Perkins Loan. Your Perkins loan will not be available for you to use toward your charges until this requirement is met. Additionally, you will also be required to sign a Promissory Note that will be made available to you by your campus Business Office.

If you graduate, withdraw from school, or your enrollment drops below half-time status, exit interviews must be conducted as well.

Federal Direct Loan

The Federal Direct Loan program provides low interest, long term loans to eligible students through the U.S. Department of Education.

For additional Information visit Direct Loans on