Loans are a form of aid that needs to be repaid. Loans for higher education are generally offered at low-interest rates and can be repaid over an extended period of time after the student leaves the institution.
In order to apply for any of the following loans, a FAFSA must be filed in order to determine eligibility. You need to take full responsibility for following the entire loan application process.
Programs for Graduate Students
Graduate students have two types of loans available:
Unsubsidized Direct Loan Interest Rates
The Unsubsidized Federal Direct Loans Unsubsidized Federal Direct Loan is not need-based and the student is responsible for the interest as soon as it is taken out. Repayment on the principle of the loan begins 6 months after the student either graduates or drops below half time. The school determines the amount of your eligibility and it is shown on your financial aid award letter. Students are required to complete the Entrance Counseling and Master Promissory Note (MPN) in order to receive funds from this loan. Visit Federal Student Aid online to accept your loans here.
Federal Direct Graduate PLUS Loan Interest Rates
The Graduate Plus Loan is a low-interest educational loan that can be used to help pay up to the entire cost of education, including tuition, fees, room/board, and books. The PLUS loan is not based on income or assets, however, to qualify you must pass a credit check. Repayment can be deferred until 6 months after the student graduates or drops below half time. At Marymount, A FAFSA form is required in order to apply for a PLUS loan. Students are required to complete the Entrance Counseling and Master Promissory Note (MPN) in order to receive funds from this loan. Visit Federal Student Aid online to accept your loans here.