The State of Indiana offers its students and parents a couple of state-sanctioned agencies, which provide the college planning guidance. Before searching and getting any student loan don’t miss out on the information right in your own backyard.

There is a secondary loan company ISM Education Loans. This is a primary source when you need reliable information on the types of loans available to you.

State Student Assistance Commission of Indiana is an agency for collecting and disbursing information for college students and parents. This valuable agency provides information to parents and students at all levels of education.

Federal Student Loans for Indiana Students

Never be confused for applying for federal loans. First step for applying for federal aid is to complete the Free Application for Federal Student Aid (FAFSA). By filling FAFSA you will be considered for all federal loan and grant programs.

Here are the Federal Loans available for Indiana students:

• Stafford Loans are the most popular federal student loans. Stafford Loans comes usually in two types, Subsidized and Unsubsidized. Stafford Subsidized Loans are need-based loans so if your family falls into one of the lowest financial brackets you can qualify for Subsidized Stafford Loans. In many cases, students qualify for both. Stafford Loans are low interest and low fees loans with six months of grace period. Stafford Loans should have to be your first option when you are looking for financial aid.
• Parents of undergrad students always battle to meet the cost of their child’s education. But Parent PLUS Loan can help them out. This loan is designed to help the parents for financing the outstanding balance on their children’s education. This is a lower-cost, option to traditional home equity loans or 2^nd mortgages.
• Most recently added in pipeline of student’s loans in Indiana is the Grad PLUS Loan. Similar like Parent PLUS Loans this loan comes into play when your Stafford Loans meet the limit. When you the limit on your Stafford Loans then your next best option for financial aid will be the Grad PLUS Loans.
• Perkins Loans are campus-based loans and these loans are designed to disburse only to needy students. Every School or college doesn’t offer Perkins Loan; so make sure to ask your admissions counselors.

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