Federal Direct Loans (US citizens and permanent residents only)
In general, the maximum annual loan amount is $20,500. The interest rate is fixed at 6.8% with an origination fee of 1%. There is
no credit check required. The standard repayment term is 10 years. A six month grace period immediately follows separation from school or otherwise dropping below half-time enrollment status. The interest accruing to the loans is the responsibility of the student, who may make interest only payments or choose to defer those payments until the expiration of the grace period, at which time the repayment of principal and interest is required. The loan is requested by completing and returning a loan request form available on our
Financial Aid Forms page.
Federal Direct Grad PLUS Loans (US citizens and permanent residents only)
In general, the maximum annual loan amount is the cost of attendance minus all other resources. The interest rate is fixed at 7.9% with an origination fee of 4%.
A credit check is required. The standard repayment term is 10 years. As with Federal Direct Loans, the interest accruing from the time of disbursement is the responsibility of the student, who may make interest only payments while in school or request to defer those payments until separation from school or otherwise dropping below half-time enrollment status, at which time the repayment of principal and interest is required. There is no grace period. The loan is requested by completing and returning a loan request form available on our
Financial Aid Forms page.
Yale International Loans (international students only)
In general, the maximum annual loan amount is the cost of attendance minus all other resources. The interest rate is fixed at 7.75% with an origination fee of 5%. There is
no credit check required. The standard repayment term is 10 years. As with Federal Direct Loans, the interest accruing from the time of disbursement is the responsibility of the student, who may make interest only payments while in school or request to defer those payments until separation from school or otherwise dropping below half-time enrollment status, at which time a six month grace period begins, followed by the required repayment of principal and interest. The loan is requested by completing and returning a loan request form available on our
Financial Aid Forms page.
