Graduate Loans

Graduate Loans

A "loan" is a form of financial aid.  It is money that you borrow, which must be repaid with interest. The most common kinds of loans are:

​Beware of possible Student Loan scams.  For more information please visit:

Federal Direct Stafford/Ford Loan Program (Unsubsidized)

The Budget Control Act of 2011 has eliminated Subsidized Student Loans for graduate students. Eligible graduate students can qualify for an annual maximum of $20,500 in unsubsidized loans.


The Direct Loan Program allows students to borrow money directly from the federal government to help students meet the cost of a graduate education. Students who are matriculated in degree-granting programs and are registered for at least 6 graduate credits per semester are eligible. Students may begin repayment while still attending school by paying the interest, with repayment of the principal deferred until after graduation or termination of attendance. Or, interest may be added to the principal, with repayment of the principal and interest deferred until after graduation or termination of attendance. The aggregate total that may be borrowed from this program is $138,500 including undergraduate loans.

Federal Graduate PLUS (Graduate Students Only)

The Graduate PLUS Loan, a low interest, federally backed student loan, guaranteed by the U.S. Government, like its undergraduate counterpart, can be used to pay for the total cost of education less any aid a student has already been awarded. Also like the undergraduate version, eligibility for the Graduate PLUS Loan is largely dependent on the borrower's credit rating and history, as opposed to the purely financial need-based Graduate Direct Loan. The annual interest rate is fixed at 7.9 percent. An origination fee is deducted from the loan amount.

Graduates can apply for a Graduate Plus loan by visiting:

FAQ can be found at:


  Unsubsidized Loan for
Graduate Student
Graduate Plus Loan
Maximum Annual Loan Amount for the 2021-2022 Award Year (Summer 2021/Fall 2021/Spring 2022) $20,500 Cost of attendance for the loan period minus any other financial assistance received, including a Direct Unsubsidized Loan​
Interest Rate for Direct Loans first disbursed on or after July 1, 2021 and before July 1, 2022 5.28% Fixed 6.28% Fixed
Origination Fee on loans first disbursed on or after October 1, 2020 and before October 1, 2022 1.057%​ 4.228%​
Interest Accrues from the date the loan is first disbursed: While you are enrolled in school at least halt-time, during the grace period, forbearance periods, and during most repayment and deferment periods​ While you are enrolled in school at least halt-time, during forbearance periods, and during most repayment and deferment periods​

Repayment Begins

Six months after you graduate, leave school, or drop below half-time enrollment​

After the loan is fully disbursed.  However, the loan will be placed in deferment while enrolled at least half-time and for six months after you graduate, or drop below half-time enrollment
Enrollment Requirement Six or more credits in a degree-granting graduate program Six or more credits in a degree-granting graduate program
Credit Check Required No Yes
2021-2022 FAFSA Required Yes Yes


Private (Alternative) Loans 

Students are strongly encouraged to apply for grants through the Free Application for Federal Student Aid (FAFSA) on line at  and Federal Direct Loans before pursuing a Private Loan.

These loans of last resort are private lender loans for students who may not be eligible for Federal Direct Student Loans, have reached the federal student aggregated limits or who are eligible and need additional funds to help meet additional educational expenses including tuition and housing. The amount that a student may borrow is limited to the “cost of attendance” as determined by federal approved standard budgets. All applicants are subject to credit review and/or may require a co-signer. Students who do not have eligible citizenship status for federal financial aid may borrow a Private Loan if they have a co-signer with eligible citizenship status. Interest is variable and these loans typically have more fees and less flexible repayment options than the federal loan programs. Private Loans are not insured against disability or economic hardships

Students who are considering a Private Loan should first speak to a financial aid counselor.


Criteria for receiving loan

  • Must be a matriculated student with a minimum of 6 credits
  • Have a completed FAFSA application
  • Meet the college's Satisfactory Academic Progress requirments

Financial Aid Estimator 
Determine the cost of your education.