Your financial aid award package will tell you what types of education loan programs you are eligible to accept. If you have remaining unmet need, you may need private "alternative" education loans to cover all your expenses. Your school's financial aid office can help you determine which programs are right for your unique situation.  

Colleges handle financial aid in different ways. They can participate in different programs and have different processing deadlines. Each school adopts a federal loan program - either the Federal Family Education Loan Program (FFELP) or the Direct Loan Program. Both programs are governed by federal regulations that determine the loan programs, loan limits, and repayment options. In the FFELP, private lenders provide the loan funds and work with guarantors to back the loans. In the Direct Loan Program, the government provides the loan funds and backs the loans. 

Keep in mind that federal loans with the lowest interest rates and with the most options for deferring payment are awarded to those with the greatest need. Various loan types are listed below. You may not be eligible for all of the loans listed. Your school's financial aid office determines your eligibility for both loan and non-loan programs.  

There are a variety of low-interest loans and other aid programs available to graduate students through the FFELP and Direct Loan Program. Many are similar to the undergraduate loan programs, yet with higher annual loan limit amounts. Others are unique to a graduate student's specific area of study. In addition, many lenders offer private loans to meet graduate need.