Educational loans provide funds for your educational, living and personal expenses while completing an MBA program.
Loans make it possible to invest in a future of expanded career opportunities, career satisfaction and increased earning power.
Loans are the most common source of financial assistance for MBA students throughout the U.S.
Direct Unsubsidized Loan
The is a U.S. federal loan that provides up to $20,500 per academic year to MBA students who are an eligible U.S. citizen or permanent resident.
Interested students must submit the .
The interest rate for the Direct Unsubsidized Loan for graduate students is 5.8% (as of July 2021). The standard repayment period is 10 years, and can be extended to 20 or 30 years.
The provides timely information about loan amounts and current interest rates for the Direct Unsubsidized Loan.
Direct Graduate Plus Loan
The is a U.S. federal loan that provides funding in addition to the Direct Unsubsidized Loan to eligible MBA students who are a U.S citizen or permanent resident. Combining the Unsubsidized and PLUS loans allows MBA students to borrow up to the estimated cost of educational, living and personal expenses while an MBA student.
Interested students must submit the .
The Direct Graduate Plus Loan is a credit-based loan. The repayment term is 10 years. The interest rate is 6.28% (as of July 2021). Special repayment benefits include the (IBR) and (PSLF).
Private Credit-Based Loans for U.S. Students
Students may be eligible to borrow through private credit-based educational loan programs. Private loans generally require a cosigner. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate. Students should research lenders and the features of the loan programs before selecting their lender. Contact Shanan Woods at the ºìÐÓ¶ÌÊÓƵ University Financial Aid Office for more information.
Private Credit-Based Loans for International Students
International students may be eligible to borrow funds through private educational loan programs. Private loans generally require a cosigner who is a U.S. citizen or permanent resident. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.
For more information, be sure to read GMAC’s mba.com article titled that describes what international students need to know about loans and loan programs. Another great source of information for loans and information about loans for international students is .
International students who borrow through a private lender should follow the application process of the lender.
ºìÐÓ¶ÌÊÓƵ University financial aid personnel and the ºìÐÓ¶ÌÊÓƵ MBA admission staff are available to help you with your questions. Contact the MBAP admission office at mba-p@willamette.edu or (971) 717-7260