Office of Financial Aid

Graduate Student Loans

Graduate Student Loans

You should complete the Free Application for Federal Student Aid (FAFSA) to be considered for all of the following student loans:

  • Federal Stafford Loan (unsubsidized only)
  • Alternative Loans

Note: If we confirm your eligibility for the Federal Stafford Loan Program, we will send you an award notification with details of the offer, and instructions about how to begin the loan process.

Special Notice: If you have a student loan, you have the right to cancel all, or a portion of the loan, within 14 days of disbursement by contacting the Office of Financial Aid.

Federal Stafford Loan

Graduate students are eligible for unsubsidized Stafford loans. The maximum amount of unsubsidized Stafford loan a graduate student can borrow per year is $20,500. The interest rate for loans disbursed after July 1, 2014 is 6.21%.   

Aggregate Loan Limits for Graduate Students

Graduate student may accumulate outstanding federal student loan debt of up to $138,500. This amount includes any student loans borrowed for an undergraduate degree

Loan Counseling and Master Promissory Note

First time graduate level Fort Lewis College borrowers must complete loan entrance counseling online before we can disburse their loan funds. First time graduate borrowers at Fort Lewis College must also complete their Master Promissory Note (MPN) online. Available computers on campus may be used for this purpose. After the initial MPN, a promissory note will not be required for subsequent loans.

The US Department of Education will transmit the loan proceeds to the school after you sign your MPN. Loans are disbursed in two equal installments. Disbursement will occur by the first day of classes each term, when enrollment is confirmed. However, it may take up to four weeks, during peak volume periods to transmit data to the US Department of Education.

The College automatically credits the money to your bill and refunds the balance, if any, to you. Origination fees of 1.072% will be deducted from the loan upon disbursement. This is subject to change.

Alternative loans

Private loans have no government subsidy. These college loans require a more stringent qualification of credit worthiness, and have a higher interest rate than federal student loans. The Office of Financial Aid advises all students to use the Stafford loan program first, and completion of the FAFSA is strongly encouraged.

 

 
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