Loans for Graduate Programs
Loan Disbursement Timeline
Loan funds will be applied to your student account (disbursed) 10 days before the start of your first class if you have:
- Accepted the loans in your award package in
- Completed all required documents
- Enrolled in a minimum of 4 credit hours (half-time enrollment)
Excess funds are sent within 6 to 10 business days beginning the beginning the first week of classes each semester. For direct deposit and refund information, contact Student Accounts.
Loan Types
Unsubsidized Stafford Loans
Federal Direct Unsubsidized Stafford Loans are federal student loans offered by the U.S. Department of Education for eligible students to help cover the cost of higher education.
Unsubsidized Stafford loans are available to undergraduate and graduate students, regardless of financial need. Interest accrual begins at the point of disbursement.
Interest rates for unsubsidized loans are fixed, and there is an origination fee deducted from the funds prior to receipt at the university. Specific information on the current interest rates and origination fees is available at .
How much should I request for my Stafford loan?
Stafford loans have a loan fee of 1.057%. A loan fee comes out of the amount of money that is disbursed (paid out) to you while you’re in school. This means the money you receive will be less than the amount you actually borrow. Use the form below to determine how much you should request to make sure you receive all you need in your student account.
Annual Loan Limits
| Degree Type | Loan Limit |
|---|---|
| Graduate or Professional Annual Loan Limit | $20,500 (unsubsidized only) |
| Doctoral Degree in Clinical Psychology (9-month enrollment) | $33,000 (unsubsidized only) |
| Doctoral Degree in Clinical Psychology (12-month enrollment) | $37,167 (unsubsidized only) |
Loans cannot exceed the cost of attendance minus other financial aid.
Maximum Total Debt from Stafford Loans When You Graduate
| Degree Type | Aggregate Loan Limits |
|---|---|
| Graduate and Professional Degree Students | $138,500 |
| Doctoral Degree in Clinical Psychology | $224,000 |
The graduate debt limit includes Stafford Loans received for undergraduate study.
Federal Student Loan Repayment
Understanding your loan repayment options is a smart way to approach using student loans. is your hub for federal student loan repayment questions and answers. Once you log in, you can view your current student loan balance and plan for loan repayment, plus get a link to your loan servicer’s website.
After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. Once your grace period is up, it will be important to choose the right payment plan option that works for you.
Start by reviewing the . It walks you step-by-step through loan repayment and provides a helpful FAQ! You can view information about and use the to see a detailed plan of specific loan repayment options based on your own borrowing.
Some students may also qualify for — click the link to review eligibility requirements.
Grad PLUS Loans
PLUS loans are federal loans provided by the U.S. Department of Education that graduate or professional degree students can use to help pay education expenses. To be eligible, borrowers must apply online at and be approved. The maximum loan amount is the student’s cost of attendance minus other aid.
Here are some quick facts about Grad PLUS Loans:
- The U.S. Department of Education is the lender.
- They are approved based on a credit check of the student.
- The credit check is not a review of your credit score but a check for .
- The maximum loan amount is the student’s cost of attendance minus any other financial aid received.
- They have an origination fee deducted from the loan funds by the Department of Education.
- You’ll receive an automatic deferment while you’re enrolled in school at least half time, and for an additional six months after you graduate, leave school, or drop below half-time enrollment. You don’t have to start making payments until after this deferment period ends.
The PLUS loan must be applied for each year the student wishes to borrow. Additional information is available at .
How much should I request for my PLUS loan?
PLUS loans have a loan fee of 4.228%. A loan fee comes out of the amount of money that is disbursed (paid out) to you while you’re in school. This means the money you receive will be less than the amount you actually borrow. Use the form below to determine how much you should request to make sure you receive all you need in your student account.
Private Loans
Private (or alternative) loans are loans that are not part of the federal financial aid program. Interest rates and fees vary greatly and may depend on the borrower’s credit-worthiness. Generally, students are required to have a cosigner. Loan amounts cannot exceed the cost of attendance less other financial aid.
Try to view and compare lenders that have provided private loans to George Fox students in the past. While these resources will help you make an informed decision about the most appropriate loan for you, please note that you are not required to select a lender on this list.
You can also visit for helpful tips on how to choose a student loan lender.
Stafford Loans FAQ
No! Unsubsidized Stafford loans do not accrue interest until we actually disburse them onto your account. We always disburse financial aid 10 days before classes begin. Subsidized Stafford loans do not accrue interest while you are enrolled at least half-time in school. They begin accruing interest once you cease enrollment.
Both a Master Promissory Note (MPN) and Entrance Loan Counseling must be completed before we can disburse your Stafford loans. Entrance Loan Counseling is training that helps students understand their rights and responsibilities when taking out federal student loans. It ensures that you understand the terms and conditions of your loan(s), including how to avoid default and delinquency, how interest works, and repayment options. A Master Promissory Note is a document that outlines the terms and conditions of the Stafford loan, including the promise to repay the loan and any interest and fees to the U.S. Department of Education.
Interest rates vary from year to year and will always be posted in early summer.
Subsidized Stafford loans are considered need-based, which means not everyone qualifies for them. If you do qualify for this type of loan, it will not accrue interest while you’re enrolled in classes at least half-time! Unsubsidized Stafford loans do accrue interest while you are in school.
Since subsidized Stafford loans are based on financial need, only those who demonstrate need based on federal formulas will be eligible for a subsidized loan. Refer to your financial aid package to see if you qualify.
You will accept your Stafford loans through your MyGeorgeFox account under the financial aid tile. We have a very helpful tutorial video that walks you through the step-by-step process. If you do not want the full amount offered to you, you’ll select the “reduce” option in MyGeorgeFox and then specify how much you want to accept.
We will disburse your Stafford loans one semester at a time and always 10 days before classes start, pending the items we mention in our last question below.
Stafford loans are for the student and therefore in the student’s name. Stafford loans can never be transferred to a parent to pay off.
While you choose to accept your Stafford loans through your MyGeorgeFox account, these are not loans you’re borrowing from our school directly. We offer them on your financial aid package on behalf of the Department of Education, and if you choose to accept them, the loans are given through the federal government and repaid back to them.
You will not see any borrowing history on studentaid.gov until we disburse your loan(s). Once they’re disbursed, they will appear on your aid history on studentaid.gov. Get logged in using your FSA ID and password and navigate to the “my aid” section to see your loans, interest accrual, and lender’s contact information.
No! In fact, we encourage you to make payments on your loans if you can while you’re enrolled in school. This is a great way to keep the costs down once you graduate.
This will vary depending on how much you borrowed and which repayment options you choose to pursue. Studentaid.gov has great loan repayment information that we encourage you to check out.
In order for us to disburse your Stafford loans, you need to complete any pending financial aid To Do List items on your MyGeorgeFox account. This can include, but is not limited to, Entrance Loan Counseling, MPN, verification documentation, proof of U.S. citizenship, SAP appeal, etc. This is why it’s very important to check your MyGeorgeFox To Do List regularly and take care of items in a timely manner. You will also need to be enrolled in at least half-time (6 credits) each semester you plan to borrow the loans and be in good Satisfactory Academic Progress (SAP) standing.