To help our graduate students finance a Saint Joseph´s University education, we are pleased to be able to offer several loan options. Students are encouraged to review the options to determine which is best suited for their specific needs.
Important Loan Changes as of July 1, 2012:
Signed on August 2, 2011, The Budget Control Act (BCA) of 2011 brings two changes to the Federal Direct Loan Program:
Below are descriptions of the loan programs available to help determine the amount of financing a student might require.
|FEDERAL DIRECT UNSUBSIDIZED LOAN||FEDERAL DIRECT GRADUATE PLUS LOAN||PRIVATE ALTERNATIVE LOAN|
|PROGRAM DESCRIPTION||This loan allows all students regardless of federal financial aid eligibility who are enrolled for at least six credits per term. The government does not subsidize the interest during in-school, grace and deferment periods.||This program allows graduate students who do not have an adverse credit history to borrow up to the full cost of attendance, less other financial aid received, including Federal Direct Unsubsidized Loans.||This program allows students, over 18 year of age to borrow up to the full cost of education less financial aid. This is a long-term, private loan for students based on credit worthiness.|
Graduate Students in a Masters Program: $20,500
Graduate Students in a Certificate Program:
|Total cost of education, minus any other aid received.||Total cost of education, minus any other aid received.|
|REPAYMENT/ POSTPONEMENT OF PAYMENT||Interest is due while in school, but can be postponed. If the interest is postponed, it will be capitalized (added to the principal).||Principal and interest are due 60 days after the final disbursement. Upon request, payment deferment privileges may be available with some restrictions.||
There are three payment options available while the student is enrolled in school:
1) defer payment of principal and interest,
2) interest payment only or
3) immediate payment of principal and interest.
|MASTER PROMISSORY NOTE||Direct Unsubsidized Lending Master Promissory Note||Direct Lending Graduate PLUS Master Promissory Note|
|ESTIMATED FEES||1.051%||4.204%||Varies by Lender|