▁and ▁gradu ate ▁students , ▁with ▁no ▁requirement ▁to ▁demonstrate ▁financial ▁need . ▁Your ▁school ▁will ▁determine ▁how ▁much ▁you ▁are ▁allowed ▁to ▁borrow ▁based ▁on ▁your ▁cost ▁of ▁attend ance ▁and ▁adjust ▁for ▁any ▁other ▁financial ▁aid ▁you ▁are ▁receiving . ▁However , ▁you ▁are ▁responsible ▁for ▁pay ing ▁the ▁interest ▁on ▁these ▁lo ans ▁even ▁during ▁school . ▁If ▁you ▁choose ▁not ▁to ▁pay ▁interest ▁while ▁en rolled , ▁your ▁interest ▁will ▁acc r ue ▁and ▁be ▁added ▁to ▁the ▁principal ▁amount ▁of ▁your ▁loan . ▁ ▁Parent ▁lo ans ▁ ▁Federal ▁parent ▁lo ans ▁are ▁a ▁feder ally ▁fund ed ▁loan ▁option ▁if ▁the ▁student ▁is ▁dependent ▁on ▁his ▁or ▁her ▁parents . ▁Parent ▁lo ans ▁allow ▁parents ▁to ▁take ▁out ▁student ▁lo ans , ▁the ▁rep ay ment ▁of ▁which ▁will ▁be ▁their ▁responsibility . ▁ ▁The ▁parents ▁use ▁these ▁lo ans ▁to ▁pay ▁for ▁educational ▁exp enses ▁on ▁beh alf ▁of ▁the ▁student . ▁For ▁under grad uate ▁students ▁there ▁is ▁the ▁parent ▁loan ▁for ▁under grad uate ▁students ▁or ▁PL US ▁Lo an . ▁This ▁loan ▁allows ▁parents ▁to ▁borrow ▁up ▁to ▁the ▁total ▁cost ▁of ▁attend ance , ▁minus ▁any ▁other ▁financial ▁aid ▁the ▁student ▁receives . ▁El ig ibility ▁will ▁be ▁determined ▁upon ▁review ▁of ▁the ▁parent ' s ▁credit ▁history . ▁ ▁Private ▁lo ans ▁ ▁Private ▁student ▁lo ans ▁are ▁offered ▁by ▁private ▁l enders ▁( fin an cial ▁institutions ). ▁These ▁lo ans ▁typically ▁have ▁much ▁higher ▁interest ▁rates , ▁have ▁fewer