Student Loans
Explore the types of loans that might be included in your financial aid package.
/0x35:2400x1566/prod01/channel_34/media/seattle-university/web-redesign---admissions-amp-aid/GoldenMagnolias_yck_SpringCampus_006.jpg)
Investing in Your Future
Student loans are a type of funding that must be repaid. Some student loans are interest-free while you are in school and low interest during the repayment period. In general, the federal loan interest rates and repayment options are more favorable than private student loans from non-federal government organizations.
Learn about the loans included on award letters and others for which students can apply beyond those awarded by the Student Financial Services Office.
What to Do with Loans in Your Financial Aid Offer Letter
After you are admitted and complete the Free Application for Federal Student Aid (FAFSA), you will receive an email alert that your financial aid offer letter is available to view. You can view your offer letter in both in your Redhawk Admission and your mySeattleU portals.
Your letter lets you know what types of aid you're eligible for and how much. Some of the aid offered to you will be in the form of federal loans.
The financial aid offer letter generally lists the maximum amount the student may borrow for the academic year.
To reduce or decline Federal Direct Loans or Nursing loans before they have disbursed, students log on to mySeattleU and click on the Financial Aid Self Service Portal. From the checklist item: "Review My Awards", students can select "Decline".
To request a reduced amount or decline any of these loans after they have disbursed, students should use the Financial Aid Revision Request Form, specifying the amount to which they want their loans reduced, and which academic year or term the change is requested for.
- Revised loan amounts are distributed equally across all quarters for which students are expected to enroll.
- When a student's requested revision is complete, a notification that a revised award letter is available at mySeattleU is sent to the student's Seattle University email address.
- Processing time for revision forms is typically one week.
Student Financial Services Counselors
Meet with a Student Financial Services Counselor for personalized advice on your financial aid offer.
For Your EducationReliable Support
OF UNDERGRADUATE STUDENTS RECEIVED AID (2022–23)
From merit scholarships to award packages, Seattle University supports your success.
/prod01/channel_34/media/seattle-university/flat-icon/graduation-hat.png)
$120,000 AVERAGE HOUSEHOLD INCOME
Most SU students come from households earning less than $120,000 annually.
LESS DEBT
On average, SU students borrow over $13,000 less than the national average, and 35% do not need to take out any loans.
Relationship with Lenders Code of Conduct
The Higher Education Opportunity Act (HEOA) adds to the Program Participation Agreement (PPA) a requirement that an institution participating in a Title IV loan program must develop, publish, administer, and enforce a code of conduct. Seattle University adheres to this code of conduct as it applies to the officers, employees, and agents of the institution.
In addition to standards of behavior set out by the University, the Enrollment Services Division, and Student Financial Services, employees of Seattle University and, in particular, employees within Student Financial Services, are subject to the following restrictions.
A ban on revenue-sharing arrangements with any lender. The HEOA defines "revenue-sharing arrangement" as any arrangement between an institution and a lender under which the lender makes Title IV loans to students attending the institution (or to the families of those students), the institution recommends the lender or the loan products of the lender and, in exchange, the lender pays a fee or provides other material benefits, including revenue or profit-sharing, to the institution or to its officers, employees, or agents.
A ban on employees of the Student Financial Services receiving gifts from a lender, guaranty agency or loan servicer. No officer or employee of Seattle University's Student Financial Services (or an employee or agent who otherwise has responsibilities with respect to educational loans) will solicit or accept any gift from a lender, guarantor, or servicer of education loans. A "gift" is defined as any gratuity, favor, discount, entertainment, hospitality, loan, or other item having monetary value of more than a de minimus amount. However, a gift does not include:
- (1) a brochure, workshop, or training using standard materials relating to a loan, default aversion, or financial literacy, such as a brochure, workshop or training;
- (2) food, training, or informational material provided as part of a training session designed to improve the service of a lender, guarantor, or servicer if the training contributes to the professional development of Seattle University's officer, employee or agent;
- (3) favorable terms and benefits on an education loan provided to a student employed by Seattle University if those terms and benefits are comparable to those provided to all students at Seattle University;
- (4) entrance and exit counseling as long as Seattle University's staff is in control of the counseling and the counseling does not promote the services of a specific lender;
- (5) philanthropic contributions from a lender, guarantor, or servicer that are unrelated to education loans or any contribution that is not made in exchange for advantage related to education loans, and;
- (6) State education grants, scholarships, or financial aid funds administered by or on behalf of a State.
A ban on contracting arrangements. No officer or employee of Seattle University's Student Financial Services (or employee or agent who otherwise has responsibilities with respect to education loans) will accept from a lender, or an affiliate of any lender, any fee, payment, or other financial benefit as compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans.
A prohibition against steering borrowers to particular lenders or delaying loan certifications. For any first-time borrower, Seattle University will not assign, through the award packaging or other methods, the borrower's loan to a particular lender. In addition, Seattle University will not refuse to certify, or delay the certification, of any loan based on the borrower's selection of a particular lender or guaranty agency.
A prohibition on offers of funds for private loans. Seattle University will not request or accept from any lender any offer of funds for private loans, including funds for an opportunity pool loan, to students in exchange for providing concessions or promises to the lender for a specific number of Title IV loans made, insured, or guaranteed, a specified loan volume, or a preferred lender arrangement. An "opportunity pool loan" is defined as a private education loan made by a lender to a student (or the student's family) that involves a payment by the institution to the lender for extending credit to the student.
A ban on staffing assistance. Seattle University will not request or accept from any lender any assistance with call center staffing or Student Financial Services staffing, except that a lender may provide professional development training, educational counseling materials (as long as the materials identify the lender that assisted in preparing the materials), or staffing services on a short-term, nonrecurring basis during emergencies or disasters.
A ban on advisory board compensation. An employee of Seattle University's Student Financial Services (or employee who otherwise has responsibilities with respect to education loans or financial aid) who serves on an advisory board, commission, or group established by a lender or guarantor (or a group of lenders or guarantors) is prohibited from receiving anything of value from the lender, guarantor, or group, except for reimbursement for reasonable expenses incurred by the employee for serving on the board.
Supporting Offices
Get in Touch
We’re here to help. For questions or more information about financial aid contact:
Student Financial Services
Vi Hilbert Hall, 2nd floor
Monday–Friday 9:30am–4:00pm
Drop-in Counselors available 10:00am–3:00pm