Admissions > Student Loan Information Student Loan Information
Student Loans
Student loans are available to assist students in meeting the cost of education. All first-time borrowers are required to complete an Entrance Interview.
Borrowing funds at a low interest rate allows students to take responsibility for their education. Although sponsored by the federal government, Walsh University determines loan eligibility and handles the processing of all applications.
Federal Stafford Student Loan (Federally Guaranteed)
- Based on financial need (subsidized)
- NOT based on financial need (unsubsidized)
- Complete the FAFSA to determine loan eligibility
- Award maximums (dependent students):
- $3500 - Freshman Year
- $4500 - Sophomore Year
- $5500/yr. - Remaining undergraduate years
- Award maximums (independent students)
- $7500 - Freshman Year
- $8500 - Sophomore Year
- $10,500/yr. - Remaining undergraduate years
- Repayment of principle and interest deferred until six (6) months after graduation or when enrollment status drops below half-time (subsidized)
- Repayment of principle and interest can be deferred until six (6) months after graduation or when enrollment status drops below half-time (unsubsidized)
- Interest rate varies annually with a cap of 8.25%
- Interest will begin accruing once check is disbursed (unsubsidized)
- Given up to ten (10) years to repay loan
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Federal Perkins Loan (Federally Funded)
- Based on financial need
- Apply by completing the FAFSA
- Award maximum up to $3000/yr.
- Repayment and interest deferred until nine (9) months after graduation or when enrollment status drops below half-time
- Interest rate is 5% for the length of repayment
- Given up to ten (10) years to repay loan
Federal Parent Loan for Undergraduate Students (PLUS)
Under this federal program, parents of dependent students may borrow up to the cost of education minus any other financial aid. The interest rate is 8.5%. Repayment begins 60 days after the date of disbursement. Eligible parent borrowers must demonstrate a good credit history to receive a PLUS loan. | |
