Loans can be a viable option to fill gaps not covered by other financial aid forms. Learn about what options are available for you and your educational journey.
Federal Stafford Unsubsidized Loan
Loans borrowed through the Stafford unsubsidized loan program do not consider need. Combined with other aid, loans cannot exceed the student’s budget. Stafford unsubsidized loans accrue simple interest, capitalized onto the principal at repayment. The interest rate varies around 6%. The U.S. Department of Education determines rates and fees. The amount borrowed through the Stafford unsubsidized program may not exceed $20,500 per year. Visit the Federal Direct Loans page on the university’s financial aid website.
Graduate Loan Plus
If a balance remains after the federal loans and all other aid have been deducted from the budget, the student can apply for a Graduate Plus loan program to cover the remaining balance only. The Graduate Plus Loan is based upon personal credit history. The interest rate varies around 7%. The U.S. Department of Education determines rates and fees. Visit the Graduate Plus Loans page on the university's financial aid website.
You MUST complete loan exit counseling before graduating, leaving school, or going below half-time if you have borrowed federal funds. Loan exit counseling will explain your rights and responsibilities as a borrower. It will take approximately 30 minutes to complete. Please note that you will need the PIN you received from the Department of Education to begin your exit counseling. Visit the Exit Counseling page of the Federal Student Aid website to start your exit counseling session.