How to Apply For Loans
Please select which loan you'd like to apply for. You'll then be directed to step-by-step directions on how to apply for the loan.Stafford Loans are guaranteed educational loans. The maximum amount of Stafford Loans that a student may request in one academic or calendar year is $20,500. The summer semester may either be included as the beginning or the end of an academic year. The government charges an origination fee of 1.072% (for loans first disbursed between November 13, 2013 and October 1, 2014) and 1.073% (for loans first disbursed on or after October 1, 2014 and before October 1, 2015) on the total amount of the Stafford Loan. The loan proceeds will be disbursed directly to the student's account, less the fee, in equal amounts, one payment for each term in the loan period. The government charges an interest rate of 6.21% that begins accruing interest upon the date of disbursement. Subsidized Stafford Loans and Perkins Loans are not available to graduate students. More detailed information about Stafford Loans (interest rates, repayment schedule, origination fee, etc., can be found here.
Unsubsidized Stafford Loans are non-need based guaranteed loans. The only two conditions that would preclude a student from eligibility for this loan would be (a) if a student has reached his or her maximum lifetime aggregate limit (currently $138,500), or (b) if a student is in default status for a previously awarded federal loan.
Graduate PLUS Loan is a fixed interest rate student loan guaranteed by the U.S. Government that allows master's and doctoral students to borrow the total cost for their graduate school needs, including tuition, room and board, supplies, lab expenses, and travel, less any other aid. The Graduate PLUS loan is a non-need, credit based loan similar to a private student loan with the benefit of having a fixed interest rate and federal guarantee. Master's or doctoral students who are U.S. citizens or eligible permanent residents enrolled at least half-time (at least 6 credit hours per semester) in a degree program can be considered for Graduate PLUS loans.
Alternative Loans: Students may wish to borrow from other loan programs and are free to choose from the many private loans available.
For more information about alternative loans, go here.