Loans

Learn about loans

A loan is a form of financial aid that you will have to repay even if you don’t finish your schooling. Loans are an investment in your education, but loan debt can add up quickly for you (or your parents). Borrow only what you truly need to cover your costs.

For all loans, you must meet these eligibility criteria:

  • Be a U.S. citizen, U.S. national, or permanent resident of the United States
  • Be admitted to a degree-seeking program
  • Meet satisfactory academic progress requirements
  • Not be in default on prior educational loans

Remember, you’re required to repay loans even if you do not finish your academic program or your program doesn’t meet your expectations.

How much debt can you afford?

Remember, just because loans are available to you doesn’t mean you should borrow the maximum. When it comes to student loans, aim to borrow no more than your anticipated first-year salary.

Private loans

Anyone can apply for a private student loan, as long as you meet the lender’s requirements.

Learn about private loans

Short-term loans

You can apply for an interest-free short-term loan of up to $750. In order to qualify, you must meet these eligibility criteria:

  • Be enrolled at least half time (6 hours undergraduate or 4 hours graduate)
  • Have no past due charges and no outstanding short-term loan balances
  • Be in good financial standing with the university
  • Have an active direct deposit account
  • Sign a Title IV authorization

If you have a history of late payments or returned checks, we may deny your loan request.

You can’t have two outstanding short-term loans at the same time. You may have up to two loans within one semester.

The amount of a short-term loan you may receive between semesters may be less than you would receive during a semester. You must be enrolled for the upcoming semester and meet the other eligibility criteria.

After we review your application, we’ll send a decision to your university email address. If your loan is approved, you can expect to receive the funds within 3-5 business days.

Apply for a short-term loan