Loans

A graduate degree is an investment in your future, and one way many students choose to fund that investment is through carefully considered borrowing. When managed correctly, an educational loan can be an invaluable tool in financing your DU education, as many educational loans offer more favorable terms than other consumer loans. Of course, since all loans must be repaid, you should explore all of your options and only borrow what you absolutely need.

 

Federal Loan Options

  • Federal Direct Unsubsidized Loan

    The Federal Direct Unsubsidized loan is the most widely used loan for graduate students. Almost all students who submit the Free Application for Federal Student Aid (FAFSA) will have this loan offered as a part of their financial aid package.

    Eligibility Requirements: Available to students enrolled at least half time (4 credits or more) in a degree-seeking program who submitted a FAFSA, regardless of financial need.

    Maximum Loan Amount: $20,500 per academic year. The lifetime borrowing limit is $138,500. (Students in the Doctor of Psychology program are eligible for up to $33,000 per academic year, with an additional $4,167 if enrolled in summer courses.)

    Interest Rate:

    • For loans borrowed during the 2023-24 academic year: 7.05%
    • For loans borrowed during the 2022-23 academic year: 6.54%
    • For loans borrowed during the 2021-22 academic year: 5.28%


    These interest rates are fixed for the life of the loan.

    Interest begins accruing when the loan is first disbursed and continues to accrue throughout the life of the loan. You can pay the interest directly to your servicer as it accrues if you wish. If not paid, interest will be capitalized when repayment begins.

    Origination Fee: A loan origination fee is proportionately deducted at the disbursement of each installment of the loan. For loans first disbursed on or after Oct. 1, 2020, and before Oct. 1, 2023, the fee is 1.057%.


    Requirements to Receive Loan: You must complete both a Master Promissory Note and entrance counseling online at StudentAid.gov, and remain enrolled at least half time (4 credits or more) to receive funds.

    Repayment Terms: No payments are required while you're in school, and repayment begins six months after you graduate or drop below half-time enrollment. Payments are made to your Direct Loan servicer each month. Your monthly payment amount will depend on your total borrowing and chosen repayment plan.

    Repayment Options: The standard repayment period is 10 years but can be as long as 25 years depending on total borrowing and chosen repayment plan. These loans can also be consolidated with other federal loans.

    Learn More

  • Federal Direct Graduate PLUS Loan

    The Federal Direct Graduate PLUS Loan (commonly referred to as a Grad PLUS loan) is a fixed-interest, federally guaranteed loan available to credit-worthy graduate students. This loan is automatically offered to law students in their financial aid package; all other graduate students will need to complete a separate application.

    Eligibility Requirements: The Grad PLUS Loan is available to all credit-worthy students who submitted a FAFSA, regardless of financial need. To be approved, you must not have an adverse credit history. If you are denied a Graduate PLUS loan because of adverse credit, you may reapply with a credit-worthy cosigner. If there are documented extenuating circumstances related to your credit history, you may also appeal the denial.

    Conditions that result in an adverse credit history include:

    • One or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent, or that have been placed in collection or charged-off (written off) during the two years preceding the date of the credit report.
    • Having been subject to any of the following conditions during the five years preceding the date of the credit report:
      • Default determination
      • Discharge of debts in bankruptcy
      • Foreclosure
      • Repossession
      • Tax lien
      • Wage garnishment
      • Write-off of a federal student aid debt


    Maximum Loan Amount: Up to your total cost of attendance, minus all other financial aid.

    Interest Rate:

    • For loans borrowed during the 2023-24 academic year: 8.05%
    • For loans borrowed during the 2022-23 academic year: 7.54%
    • For loans borrowed during the 2021-22 academic year: 6.28%


    These interest rates are fixed for the life of the loan.

    Interest begins accruing when the loan is first disbursed and continues to accrue throughout the life of the loan. You can pay the interest directly to your servicer as it accrues if you wish. If not paid, interest will be capitalized when repayment begins.

    Origination Fee:

    A loan origination fee is proportionately deducted at the disbursement of each installment of the loan. For loans with a first disbursement on or after Oct. 1, 2020, and before Oct. 1, 2023, the fee is 4.228%.


    Steps to Apply:

    For graduate students:

    1. Visit StudentAid.gov.
    2. Under the "Apply for Aid" drop-down, click "Apply for a Grad PLUS loan"
    3. If approved, you'll also need to complete a Master Promissory Note (MPN) on StudentAid.gov.


    For law students:

    1. Accept the loan through MyDU.
    2. Sign in to StudentAid.gov to complete a Master Promissory Note (MPN).


    A credit check will be conducted once you have accepted the loan or begin the loan application process. If you are initially denied the Graduate PLUS loan but have since qualified by obtaining an endorser or documenting extenuating circumstances, you will also be required to complete PLUS Counseling. This can be completed through StudentAid.gov as well.

    Once you're approved, the Department of Education will send us confirmation of your loan approval and the details of the requested amount. For graduate students, the loan will be added to your financial aid award after processing.

    Requirements to Receive Loan: You must pass a credit check, complete a Master Promissory Note online at StudentAid.gov, and remain enrolled at least half time (4 credits or more) to receive funds.

    Repayment Terms: No payments are required while you're in school, and repayment begins six months after you graduate or drop below half-time enrollment. Payments are made to your Direct Loan servicer each month. Your monthly payment amount will depend on your total borrowing and chosen repayment plan.

    Repayment Options: The standard repayment period is 10 years but can be as long as 25 years depending on total borrowing and chosen repayment plan. The Grad PLUS loan can be consolidated with other federal loans.

    Learn More

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Estimate your loan payments.

Compare your future monthly payment amounts under different repayment plans.

Repayment Estimator

Private Education Loans

Many financial institutions offer private student loans, sometimes called alternative loans. These programs may offer interest rates and terms that are competitive with those of federal loans. However, federal student loans are legally required to provide a range of repayment options, including income-based repayment plans and loan forgiveness benefits. Private loans are not required to offer any such flexibility. Since Federal Direct loans are available to all students regardless of financial need, they often represent a preferable funding option. Learn more about federal versus private loans.

  • Details and Historical Lender List

    Interest rates, origination fees, and repayment information all vary widely from lender to lender. If you choose to pursue a private education loan, you will need to apply directly through the lender of your choice. Apply early, as processing may take several weeks. As part of the application process, you will be required to complete the Private Education Loan Applicant Self-Certification Form, which is also available on each lender's website. Information needed to complete this form, such as cost of attendance, can be obtained from either your financial aid offer or via MyDU.

    Eligibility: Private education loans are available to all credit-worthy students (no FAFSA needed). Eligibility for private loans varies among lenders, but a credit check and/or debt-to-income ratio is usually required. A co-borrower may also be required.

    Maximum Loan Amount: Up to your total cost of attendance, less all other financial aid.

    Historical Lenders: We maintain a historical list of institutions that have provided loans to DU borrowers. Lenders included on this list have issued loans to at least five unique DU borrowers within the last five years. You can view this list through ELMSelect, which allows you to compare lenders by interest rate and repayment benefits.

    We will certify loan requests from all lenders, including those that do not appear on our private loan lender list. Loans will first pay toward your charges, and if you have borrowed an amount greater than your bill, the Bursar's Office will generate a refund to you for the difference.

Compare your private loan options.

Historical Lender List
student studying

The Loan Process

If you borrow from the Federal Direct Loan program, information regarding your loans will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guarantee agencies, lenders and institutions determined to be authorized users of the data system. All loan funds are first disbursed to the University of Denver — any excess funds may be sent to you in the form of a refund.

Your Bill & Receiving Your Aid

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Financial Aid