Graduate student loan types

Federal Direct Loans

Graduate students are eligible for unsubsidized Direct loans. The maximum amount of unsubsidized Direct loan a graduate student can borrow per year is $20,500. View up-to-date information on interest rates and loan origination fees.

Grad PLUS loan

A Direct PLUS Loan is commonly referred to as a grad PLUS loan when made to a graduate or professional student.

To receive a grad PLUS loan, you must

  • be a graduate or professional student enrolled at least half-time at an eligible school in a program leading to a graduate or professional degree or certificate
  • not have an adverse credit history (unless you meet certain additional eligibility requirements)
  • meet the general eligibility requirements for federal student aid
Alternative loans

Private loans have no government subsidy. These college loans require a more stringent qualification of creditworthiness and may have higher interest rates than federal student loans.

The Financial Aid Office advises all students to use the Direct loan programs first.

Graduate loan information

Aggregate loan limits for graduate students

Graduate student may accumulate federal student loan debt of up to $138,500. This amount includes all federal student loans borrowed for undergraduate study.

Loan information

We will send you an award notification with details and instructions about how to begin the loan process if you are eligible.

You have the right to cancel all, or a portion of the loan(s), within 14 days of disbursement by contacting the Financial Aid Office.

First-time graduate-level Fort Lewis College borrowers must complete loan entrance counseling and a Master Promissory Note (MPN) online before we can disburse your loan funds. 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. When enrollment is confirmed, the disbursement will occur by the first day of classes each term. 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 1.057% will be deducted from the loan upon disbursement. This is subject to change.