{"id":990,"date":"2020-10-15T19:49:44","date_gmt":"2020-10-15T19:49:44","guid":{"rendered":"http:\/\/developmenttwo.marymount.edu\/admissions\/?page_id=990"},"modified":"2026-05-20T14:46:22","modified_gmt":"2026-05-20T18:46:22","slug":"loans","status":"publish","type":"page","link":"https:\/\/marymount.edu\/admissions\/financial-aid\/graduate\/loans\/","title":{"rendered":"Graduate Student Loans"},"content":{"rendered":"

Loans are a form of aid that needs to be repaid<\/strong><\/span>. 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.<\/p>\n

In order to apply for any federal loans, a FAFSA must be filed<\/strong><\/span> in order to determine eligibility. You need to take full responsibility for following the entire loan application process.<\/a><\/p>\n

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We’re here to help you navigate changes to Federal Financial Aid<\/h3>\n

Below, you\u2019ll find graduate student loan resources to help you better understand your options and next steps. We\u2019ve also created a webpage that summarizes recent federal financial aid changes<\/a> and what they may mean for you.<\/p>\n<\/div>\n

Federal Loans<\/h2>\n

As of July 1, 2026, all federal graduate loans will be subject to proration if the borrower is attending less-than-full-time.<\/span><\/em><\/p>\n

Unsubsidized Direct Loans<\/span><\/strong><\/h3>\n

The 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. Apply for Federal Student loans here<\/a><\/p>\n

Federal Direct Graduate PLUS Loans <\/span><\/strong><\/h3>\n

(For Continuing Graduate Students only)<\/span><\/strong><\/em><\/p>\n

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. Please note that beginning July 1st, 2026, new graduate students will no longer be eligible for Grad PLUS Loans. <\/span><\/em><\/a><\/p>\n

More information about these changes can be found the Federal Financial Aid Policy Changes for 2026-2027 webpage<\/a>.<\/p>\n

Continuing Graduate students can apply for a Graduate PLUS loan Federal Student Aid website.<\/a> <\/p>\n

Private Loans<\/strong><\/h2>\n

Private educational loans  are credit-based loans provided by nationally recognized lending or banking institutions to eligible students. The maximum amount a student or parent can borrow per academic term is the total cost of attendance minus the total of other financial aid received.  Parents or students submit a loan application directly to their lender of choice. (Please note that a loan application will not be certified by the Financial Aid Office until a student is enrolled in the minimum number of credits required by the lender).  Loans will typically be scheduled to disburse at the start of each term. <\/p>\n

ELM Select<\/strong><\/h3>\n

ELM Select<\/a> is an independent, third-party platform that offers a broad, unbiased listing of private education loan lenders used by Marymount University students over the past three years. The lenders are displayed in random order, and students are free to choose any lender they prefer, including those not included on the list.<\/p>\n

Historical Lender List<\/strong><\/h3>\n

To help our students find private loans, we’ve compiled a list of Marymount\u2019s graduate program historic lenders:<\/p>\n