Loans

Your education is perhaps the only asset you'll ever have which is guaranteed never to decrease in value. People pay off things of value over long periods of time—think of a home or automobile. That's exactly what student loans let you do. Your ability to repay the loan is based on the reasonable assurance that your future income as a college graduate will make loan repayment more than manageable.

Seattle University offers a wide range of loans to graduate students. Below is only a sample of what we offer. Please visit the Student Financial Services website for more information.

Federal Perkins Loan

• Long-term, need-based loan available to extremely needy students based on fund availability.
• Maximum loan is $4,000 per academic year.
• Interest rate is 5 percent.
• Lender is Seattle University.
• Repayment begins nine months after student ceases at least half-time enrollment.
• Offers limited deferment and forgiveness features.
• Only offered when funds are available.

Federal Direct Stafford Loan

• Long-term, need-based loan.
• Interest rate is 6.8% for loans taken in the 2006-2007 year. Interest does not accrue until repayment begins.
• Annual limit is $8,500
• Repayment begins six months after student ceases at least half-time enrollment.

Federal Direct Unsubsidized Stafford Loan

• Long-term non-need-based loan.
• Annual limit is $12,000. (Students may receive a partial Federal Direct Stafford Loan and a partial Unsubsidized Direct Federal Stafford Loan. The total of both loans may not exceed the combined annual loan limits of $20,500.)
• Same conditions as Federal Stafford Loan, except interest accrues immediately. Principal can usually be deferred.

Federal Direct PLUS Loan

• Long-term non-need-based, credit-based loan.
• Loan and other aid may not exceed cost of attendance.
• Interest accrues immediately but principal can be deferred.