Campus Closure

Campus is closed through November 25th. Get the latest updates.

Loans

Federal

Federal Direct Loan

The William D. Ford Federal Direct Loan program provides low-interest loans for undergraduate students to help pay for their educational expenses.

  • FAFSA required
  • Must be enrolled at least half-time
  • 5.05% interest rate for 2018-2019
  • 1.062% origination fee for loans with a first disbursement date on or after October 1, 2018 and before October 1, 2019
  • Subsidized and Unsubsidized
  • Subsidization ceases when a student completes 150% of the units required for their degree
  • 6-month grace period before repayment
  • Must complete Entrance Counseling & a Master Promissory Note (MPN)

NOTE: If your parent is denied a Federal Direct PLUS Loan, you are eligible to borrow a limited amount of additional unsubsidized Federal Direct Loan.

IMPORTANT: When considering borrowing a federal student loan, you should also understand repayment options.

Aggregate Loan Limits

  • Dependent: $31,000 (no more than $23,000 may be subsidized)
  • Independent: $57,500 (no more than $23,000 may be subsidized)

Annual Loan Limits

Dependent Students (Except Students Whose Parents Cannot Borrow a Federal Direct PLUS Loan) Maximum Subsidized Amount Additional Unsubsidized Amount Maximum Combined Subsidized and Unsubsidized Eligibility
First Year $3,500 $2,000 $5,500
Second Year $4,500 $2,000 $6,500
Third Year and Beyond $5,500 $2,000 $7,500

 

Independent Students and Dependent Students Whose Parents Cannot Borrow a Federal Direct PLUS Loan Maximum Subsidized Amount Additional Unsubsidized Amount Maximum Combined Subsidized and Unsubsidized Eligibility
First Year $3,500 $6,000 $9,500
Second Year $4,500 $6,000 $10,500
Third Year and Beyond $5,500 $7,000 $12,500

 

Private

Private Educational Loans

Private Educational Loans allow undergraduate students who have exhausted or who are ineligible for federal aid an alternate means of borrowing to help pay for their educational expenses.

Private loan providers have their own application and repayment terms, you should review all terms and disclosures before applying for one of these credit-based loan alternatives.

As you are considering financial aid programs, you may want to learn how to apply for financial aid, how we determine financial aid, the costs and other consumer information.