Direct Loan Information
Federal Direct Unsubsidized Loan Program
The Federal Direct Unsubsidized Loan is a non-need-based loan obtained through the U.S. Department of Education. Qualified students can borrow up to an annual maximum, determined by how many months are in their school year. There is no interest subsidy under the Direct Unsubsidized Loan program and repayment will begin 6 months after you are no longer enrolled at least half time.
Federal Direct Graduate PLUS Loan
You can borrow up to the total cost of attendance at ϰϲͼ minus any other financial aid you receive. There is no interest subsidy on this loan and repayment will begin 6 months after you are no longer enrolled in school on at least a half time basis.
Private Educational Loan Programs
Private Educational loan programs have various interest rates, loan amounts, fees, etc. based on the lender. To view a list of historical lenders, please review . You may qualify for loans or other assistance under the Title IV, HEA programs. The terms and conditions of the Title IV, HEA program loans may be more favorable than the provisions of the private education loans.
Emergency Loan
ϰϲͼ offers emergency loans to approved, registered students in need of temporary funds. Students do not need to be aid recipients to qualify for an emergency loan.
Maximum Amount
Students meeting the criteria noted above may apply for emergency loans by contacting the Office of Student Accounts. Students are eligible for one emergency loan per term. A term is defined as July 1-December 31 and January 1-June 30 each academic year. The graduate school also has a summer term, defined as mid May-mid July of each year. The maximum amount that can be outstanding at any time under the Emergency Loan Program is $2,000 per term.
Repayment
If students have applied for other financial aid (federal or institutional) through the Financial Aid Office, the emergency loan will come due within fourteen days of these aforementioned funds disbursing or after 90 days, whichever is first. If the student has not applied for other financial aid funds, the loan will come due after 90 days. Emergency loans will be interest-free for the first 90 days, after which interest will accrue at the rate of 12% annually.
Any outstanding emergency loans must be paid back upon leave/withdrawal. Students will not be allowed to register for a new academic year until their loan and accrued interest are repaid.
Students who become delinquent on an emergency loan will have a hold placed on their account. If they have not yet done so, they will not be able to register for the next academic term until the loan and accrued interest are paid. All outstanding emergency loans due to ϰϲͼ must be paid for students to receive their diploma.