Student Loans

Federal Student Loans

Federal Direct student loans are borrowed directly from the federal government by students by their parents. If you're interested in borrowing Federal Direct student loans to help pay for your education, the first step is to complete the Free Application for Federal Student Aid (FAFSA®) to determine your eligibility. Student loans, grants and scholarships are available to those who qualify.

There are two categories of Federal Direct student loans

Federal Direct Subsidized and Unsubsidized Loans™ are low-interest loans borrowed by the student themselves from the federal government. Loan amounts are determined by several factors like your course load and grade level1

You can access your Direct Loan account information 24/7 at www.studentloans.gov, and work with your loan servicer to choose the repayment plan that works best for you. You can also work with your loan servicer to select a repayment plan. Repayment starts once you graduate, stop attending or drop below half-time enrollment.

Learn more about Federal Direct Subsidized and Unsubsidized Loans by clicking the following links:
Subsidized and Unsubsidized Loans or Interest Rates and Fees

There are two additional steps you need to take to secure this type of loan:
  • Sign a Master Promissory Note (it's a legal document that says you promise to repay your loans and any interest and fees to the U.S. Department of Education)
  • Complete Loan Entrance Counseling

Your Student Finance Advisor will help guide you through the process.

Federal Direct PLUS Loans are credit-based loans available to the parent(s) of students enrolled at least half-time. PLUS loans aren't based on financial need. Loan amounts are based on the student's Cost of Attendace less other financial aid.2 Repayment starts 60 days after the loan is fully distributed, unless the borrower requests in-school deferement.
Learn more about the Federal Direct PLUS Loan by clicking the following links:
Direct PLUS Loan Basics for Parents or Interest Rates and Fees

Parent PLUS borrowers will also need to:
  • Complete a PLUS loan application
  • Sign a PLUS Master Promissory Note

Your Student Finance Advisor will help guide you and your parents through the application process.

1.Loan amounts are determined by several factors such as grade level and enrollment in at least half-time status. Eligibility for Direct Subsidized Loans are also based on financial need.

2.For Details, please view the Financial Need and Educational Cost section here.

non-federal Student Loans

Many Lenders (like banks and credit unions) also offer private loans to students to supplement their federal financial aid. Terms of the loan such as repayemtn and interest rates, vary by loan. Lenders preform a credit check to make sure the applicant is creditworthy before approving the loan. A loan applicant might also have to provide a creditworthy co-signer before a loan will be approved. You can get additional information and help with the application process from a Student Advisor. Student Loans, grants and scholarhips are available to those who qualify.

If you'd like to learn more about specific private loan programs or what to expect during the application process, talk with someone in Carrington's Student Finance office by calling 1-877-206-2106.

Visit the link below for a list of Private Loan Lenders that have made loans to Adtalem Global Education (DeVry University, Chamberlain University, Carrington College, Ross University School of Medicine and Ross University School of Veterinary Medicine, American University of the Caribbean School of Medicine, Becker Professional Education and DeVry University's Keller Graduate School of Management) students in the past, and continue to do so as of the date listed below.

Updated as of July 15, 2016

Carrington College

Carrington College Loan

The Carrington College Loan is a low interest financing program with extended repayment terms.

  • Available to credit worth applicants
  • Available after federal and private funds are exhausted

Financial Responsbility

Borrowing money to help pay for your education is a big step. It's important to take the time to understand the responsibilities that come with that financial assistance. When you take out a loan, you're reponsible for full repayment of the amount you borrow, plus any interest. You're reponsible even if you don't complete the program or graduate.

If you fail to repay a loan, you will be considered in default which can result in:

  • Your loan becoming immediately due and payable
  • Wage garnishment
  • The withholding of incoming tax refunds and even social security
  • Reporting to a national credit bureau
  • Ineligibility for future federal or state financial aid programs

To speak with a Student Finance Advisor, call 1-877-206-2106.

Student Loan Codes of Conduct

Carrington College observes the federal regulations regarding student loan requirements.

To ensure that you and other student borrowers are protected throughout the lending process, Carrington College has adopted a Code of Conduct that applies to the promotion and issuance of student loans. The Code was developed to promote “best practices” among those of us who provide financial aid information and assistance. It also ensures that you are given the full opportunity to choose the source of your federally insured and private loans. We fully subscribe to the Code of Conduct and are committed to upholding borrower’s rights. We encourage you to read the Code in its entirety. You can view the Code of Conduct for our institutions here.

Student Finance Conflict of Interest Policy and Code of Conduct

Arizona Student Loan Code of Conduct

If you have any questions, please contact Carrington College's Student Finance office at 1-877-206-2106