Student loans

Types, sources, and deadlines

A loan is money you borrow to pay for your education and then pay back, usually with interest. Once you complete your Free Application for Federal Student Aid (FAFSA), you’ll usually be offered loans in your LOUIE student account.

Loan sources

Loans are either offered by the federal government (called federal student loans) or by private sources such as banks or credit unions. Federal student loans usually come with lower interest rates and more flexibility in repayment than private loans. We generally recommend sticking to federal student loans as the first and best option. With all loans, be sure you read and understand the terms and conditions of the loan, such as interest rates and repayment expectations.

Accept, decline, or reduce your loans

You can accept, decline, or reduce the amount of your loans by visiting the financial aid section of your LOUIE student account.

Log in to LOUIE.
Go to the “Student Home” page.
Select “Financial Aid.”
On the left side of the screen, make sure the correct aid year is selected. If it’s not, click the “Change” button and select the correct aid year.
Click “Accept/Decline” from the menu on the left.

Loan deadlines

View our dates and deadlines for a complete list of all scholarship and loan deadlines.

Dates and deadlines

Loan types

A group of students sitting on steps and talking.

Federal Direct Student Loans

Direct loans come from the federal government and are intended to help undergraduate students paying for college. This is the most common student loan type.

Federal PLUS loans

Federal PLUS loans come from the federal government and are intended for graduate students as well as parents of dependent undergraduate students.

Private alternative loans

Private loans come from financial institutions such as banks or credit unions and often have higher interest rates or less flexible repayment options.

Federal nursing loans

A limited amount of targeted federal nursing loans are available to students in NAU’s nursing program.

Single-semester financial aid and loans

If you are only attending college for a single semester (or will graduate after a single semester), your single-semester financial aid will be adjusted accordingly.

One Big Beautiful Bill Act (OBBBA) federal loan changes

Borrower/Loan Type	Legacy/Interim Exception Limits*	OBBBA Limits
Dependent Undergraduate	Lifetime limit: $31,000 Annual limit: between $5,500 and $7,500 depending on the student’s academic level	Unchanged
Independent Undergraduate	Lifetime limit: $57,500 Annual limit: between $9,500 and $12,500 depending on the student’s academic level	Unchanged
Graduate	Lifetime limit: $138,500 (includes undergraduate loans) Annual limit: $20,500	Lifetime limit: $100,000 (excludes undergraduate loans) Annual limit: $20,500
Professional Graduate	Lifetime limit: $224,000 (includes undergraduate loans) Annual limit: $35,777	Lifetime limit: $200,000 (excludes undergraduate loans) Annual limit: $50,000
Graduate PLUS Loan Borrowers	No lifetime limit Annual limit: Up to the student’s Cost of Attendance	Eliminated for new borrowers
Parent PLUS Loan Borrowers	No lifetime limit Annual limit: Up to the student’s Cost of Attendance	Lifetime limit: $65,000 per dependent student Annual limit: $20,000 per dependent student
Overall Lifetime Limit	None, aggregate limits could be paid down and re-borrowed	$257,500 total federal loan limit Includes subsidized, unsubsidized and graduate PLUS loans Excludes parent PLUS loans

*Note: The legacy/interim exception requires consecutive fall/spring enrollment and lasts for the shorter of 3 years or until the student’s remaining expected time to credential.

Contact us

We’re here to help you better understand your student loan options. Get in touch with us to learn more!

All Title IV loans (subsidized, unsubsidized, PLUS) will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system. Students view and manage their account regularly through Federal Student Aid to track their loan amounts.

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