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Federal Loans
Save Money on Your Student Loans!

RIHEAA has great news for you and your family! Thanks to the help of our lender partners, we are able to offer some of the lowest cost student loans in the country.
Some of The Benefits...
- 0% default fee
- Low origination fees
- Borrower benefits - including reduced interest for on-time payments and direct/automated withdrawal payments
- Low PLUS loan interest rates
- RIHEAA guaranteed loans can be used across the country at any approved school
Getting Started...
First of all, make sure you've filed a FAFSA for the upcoming academic year. If you're eligible for a Federal student loan, you'll be notified by your school's Financial Aid Office. Once you've been notified, you'll need to choose one of our lending partners. Check with the school you will be attending for the procedure for filing your application. Some lenders will let you fill out your application online!
Please note that some schools may participate in the Federal Direct Loan Program and do not use the FFELP program. Check with your school's Financial Aid Office for details.
Types of Student Loans
- Federal Stafford Loans - U.S. students are eligible for a certain amount of federal student loan dollars each year they attend school. These loans are principle deferred, meaning you don't have to pay the principle back until after you stop going to school.
- Federal Parent (PLUS) Loans - Parents may borrow additional money for their dependent undergraduates through the Federal PLUS loan program.
- Consolidation Loans - Loan consolidation can be a great way to simplify the process of repaying your student loans. Very often, a consolidation loan can lower your monthly payments.
- Alternative Loan Programs - Many alternative (non-federal) loan programs exist for students who are studying in particular fields or for students who are not eligible for federal loans. Be sure to check out our Lender List to see some of the alternative loan programs available in Rhode Island.
Helpful Information
Last Modified: September 17, 2008 10:01:33 AM
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