Culinary School Loans

Sometimes, after looking into grant and scholarship options, students may need to consider culinary school loans for attending culinary school.  Unlike Culinary Arts Scholarships and Culinary School Grants, loans must be repaid. There are different types of loans, including federal and private.

Federal Student Loans

Federal student loans – some available regardless of need – offer fixed interest rates and flexible repayment options.

Stafford Loans

Direct Stafford Loans, from the William D. Ford Federal Direct Loan Program, are low-interest loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school, such as culinary school.

  • Subsidized Loans– Direct subsidized loans are for students with financial need. Your school will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow. You are not charged interest while you’re in school at least half-time and during grace periods and deferment periods.
  • Unsubsidized Loans– You are not required to demonstrate financial need to receive a Direct Unsubsidized Loan. Interest accumulates on an unsubsidized loan from the time it’s first paid out. You can pay the interest while you are in school and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized. If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount.

PLUS Loans (Parent Loans)

Parents of dependent students may apply for a Direct PLUS Loan to help pay their child’s expenses as long as certain eligibility requirements are met.

Private Student Loans

After you’ve pursued culinary scholarships, grants, and federal loans, a private student loan may be available to cover the rest of your education costs. Depending on the lender, private student loan (alternative student loan) terms can vary considerably based on your credit history.