Carlow offers you guidance in financing your educational expenses through student loans. Your eligibility is determined by filling out the FAFSA (Free Application for Federal Student Aid). Below are some options for undergraduate students to explore.

Federal Direct Loan

  • Subsidized: government pays interest while student is in school on at least a half-time basis.
  • Unsubsidized: interest accrues upon first disbursement of the loan.
  • First-time borrower needs to complete two forms for this loan: Master Promissory Note and Entrance Counseling.
  • Loan is in deferment while student is attending school on at least a half-time basis.
  • There is a six-month grace period on the loan after the student stops attending on at least a half-time basis.
  • Current interest rates.
  • More about the Federal Direct Loan.
Parent PLUS Loan
  • Federal loan that a parent/step-parent can take out for a dependent student.
  • The parent must go through a credit check to see if they are approved for the loan.
  • Two parts to the loan: Application and Master Promissory Note. Parent(s) complete both of these.
  • If the parent is denied, the student may be able to borrow additional funds on their unsubsidized Federal Direct Loan.
  • Current interest rates.
  • More about the Parent PLUS Loan and other information for parents.
Perkins and Nursing Loan
  • Loans administered by Carlow University in accordance with the Department of Education and the Department of Health and Human Services. 
  • If a student is eligible for either loan, they will be notified by the Financial Aid Office.
  • If a student is awarded the loan, the Master Promissory Note and Entrance Counseling can be completed. 
Alternative Loan
  • A private loan that a student may take out. Some lenders also offer loans to parents.
  • Most lenders require the student to have a credit-worthy cosigner.
  • On ELMSelect, students and families can view a list of lenders commonly used by Carlow students. The list is provided as a convenient tool to compare lenders – you may choose any lender you wish regardless whether they are listed on ELMSelect or not. 
Additional Student Loan Resources

Personal Finance Resources

  • Review your credit reports. The Fair Credit Reporting Act (FCRA) requires the three nationwide credit reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report once every 12 months at your request. You can make this request at or by calling 1-877-322-8228.
Learn more about budgeting wisely and improve your financial literacy by visiting:


Federal Direct Student Loan

Lifetime limit for dependent undergraduates

Lifetime limit for independent undergraduates

Lifetime limit for dependent undergraduates with Parent PLUS denials

Lifetime limit for graduate students; includes loans borrowed as an undergraduate

Track your federal loans & grants at

Note: Because of the nature of federal, state, and institutional guidelines affecting financial aid programs, the information contained in this website is subject to change.