Loan Programs

Ways to finance your Quinnipiac education

Borrowing money is one way to help you finance your Quinnipiac education. Whether you are opting for federal or private loans, our goal remains the same:  to keep your debt as low as possible. We strongly encourage you to explore all of the federal loan options first. Why? Federal loans always come with far better interest rates, fees, terms and conditions, including a variety of cancellation and forgiveness provisions, than their private counterparts.

Below we provide information on the loan choices available to you and links to other information resources to better inform you on this important decision.

Federal Direct Student Loans

Federal Direct Loans are available to eligible students who complete a FAFSA form. These loans have low interest rates, favorable repayment options and they don’t require a credit check.

Loan Limits



Unsubsidized Supplement

Unsubsidized (denied a PLUS)









Junior / Senior




Interest Rates and Fees for 2017 / 2018


Interest Rate


Subsidized Stafford Loan



Unsubsidized Stafford Loan



Parent Plus Loan



*Note: All student and parent loans will be originated through the federal government's Federal Direct Loan program.

All first-time borrowers are required to complete an Entrance Interview and a Master Promissory Note (link below) for their student loans unless the U.S. Department of Education indicates "Master Promissory Note already on file" at the time you are completing the process. The application and entrance interview process will take approximately 20–30 minutes to complete and students can “e-sign” their application without ever touching paper. All online loan proceeds will be electronically transferred to your student account at Quinnipiac University, so there are no checks to sign.

Private Alternative Loans

Important Note:
As of February 14, 2010, all private loan borrowers, pursuant to revisions in the Truth in Lending Act, are required to complete a self-certification form (PDF) before a private student loan can be approved. While your lender is required to provide you with this form, colleges also are required to provide a copy. Download the self-certification form (PDF). Some lenders may also ask you to provide Quinnipiac University's OPE ID#, which is 00140200.

Private/alternative loans are available for students seeking loan assistance above and beyond the federal programs. We strongly encourage students to apply for financial aid first, and exhaust all federal student and parent loan options second, prior to borrowing a private loan, due to the higher rates, fees, terms and conditions that usually apply.

Private educational loans are available for students and normally require a creditworthy co-signer for approval. Securing a strong, creditworthy co-signer also ensures the student better rates and fees on most loans. Interest will accrue from the moment the loan is disbursed and repayment normally begins after graduation. Student borrowers often have the option of making interest-only payments while in school or deferring and capitalizing the interest until after graduation. It is important to note that capitalizing interest over four years of undergraduate study will result in a much higher loan balance due than if a student paid the accrued interest while in school.

Unfortunately, due to the state of the economy, many lenders have stopped offering private educational loans, tightened credit criteria, or raised interest rates and fees in an effort to offset the higher cost of raising capital to lend. At this time, there are about a dozen national lenders, some credit unions and a small number of states offering private educational loan programs. For specific details on private loans, we recommend you go to ELM Select, which offers unbiased information on private educational loans, lenders, rates and fees.

ELM Select will randomize the list of lenders each time a user refreshes the page to remove any coincidental prioritization. Neither Quinnipiac University or its affiliates will give preference to a particular lender or loan program so borrowers are strongly encouraged to carefully review all loan options including terms, conditions, rates and fees prior to applying. Each lender provides contact information on its site and is happy to answer your individual questions. Quinnipiac University will gladly certify any educational loan regardless of its inclusion on the ELM Select site.

Loan Consolidation

Consolidating student loans is similar to refinancing, which allows a student to combine his or her federal loans (not private loans) into one big loan, usually extending the repayment period beyond the 10-year maximum. Depending on the loan amount, the new loan terms can go from 12–30 years. Although a student's minimum monthly payment can be significantly reduced, it is important to note that in most cases, this will result in additional interest being paid over the life of the loan.

Things to consider when deciding to consolidate:


  • Can reduce monthly payment and extend repayment period for students with large loan balances
  • Consolidation loans come with a fixed rate of interest, while older loans may have a variable rate.


  • You will lose interest rate subsidies for Perkins and Subsidized Stafford loans
  • You will lose your grace period on your loans because consolidation loans enter repayment immediately
  • You will lose any back-end benefits offered by your lender on your federal loans including interest rate reductions and rebates

For additional information on consolidation loans, we strongly urge you to visit, which is one of the most comprehensive sites on the web. To see if loan consolidation makes sense for you, please visit the loan consolidation calculator at This useful tool provides a side-by-side comparison of standard repayment versus consolidated repayment to help you determine if loan consolidation is a better option for you. Loan consolidation applications are available through the Federal Direct Loan website at:

Entrance and Exit Interviews

Entrance Interviews (required for all NEW borrowers)
Students who receive a student loan for the first time are required to complete an entrance interview and master promissory note before they are eligible to receive payment. This process will take approximately 40 minutes to complete and can be accessed 24 hours a day.

Exit Interviews (required for all students getting ready to graduate)
Students who are getting ready to graduate are required to attend an exit interview session prior to graduation. These sessions are approximately 45 minutes in length and are designed to help graduates understand their rights, responsibilities and repayment options as a student loan borrower. Attendees are asked to bring their driver’s license and the name, address and phone number of two personal references (one may be a parent) to help complete the exit interview paperwork. Federal student aid conducts online exit sessions for students who fail to attend in-person sessions, however, it is highly recommended that all students attend in person to meet with our staff.

Loans FAQ

Q. Which loan should I borrow?
We always recommend you borrow the Federal Direct loans first, Parent PLUS loans second and all other private/alternative loans as a last resort.

Q. How much can I borrow?
Direct loan borrowing limits are set by the federal government and are based upon a student's grade level. PLUS loan borrowers (parents) can apply for amounts up to the difference between the cost of attendance less all aid offered.

Q. Should I borrow a loan to cover my costs for the year or should I borrow separately each semester?
All borrowers should secure funds annually and not on a semester by semester basis. Borrowing annually minimizes application time, processing time and assures that funds will be available for both semesters. It also avoids multiple credit reports which can often have an adverse effect on your credit score.

Q. What are the interest rates and fees on loans?
Rates and fees vary between loan programs and all students and parents are encouraged to visit our Loans page for details.

Q. My parents were denied a PLUS loan. What are my options?
Students whose parents are denied a PLUS can borrow an additional Unsubsidized Direct loan based upon their grade level. Students will need to provide proof of a denial and should contact our office for details.

Q. I have a variety of loans and would like to lower my monthly payments. What are my options?
Students with multiple loans and a high monthly payment may want to consider loan consolidation as an option. Learn more about loan consolidation.

Q. I have questions about loans and don't know who to contact.
Don't ever be afraid to call, e-mail, write or simply drop in to see us in the Office of Financial Aid. We're here to help!

Payment Plans

To help you meet your educational expenses, Quinnipiac is pleased to offer Nelnet Business Solutions, formerly FACTS Management Co., as a convenient e-commerce solution. E-Cashier makes it possible for you to make payments on a student's account 24 hours a day, 7 days a week. Payments can take the form of a single payment or a payment plan.

Single Payments
Quinnipiac also provides you with the ability to make single/full payments online, 24 hours a day, 7 days a week. The payment options available are Automatic Bank Payment (ACH) and Credit Card.

Payment Plans
The University offers payment plans to help you meet your educational expenses. These plans are available for the Fall and Spring terms both on an annual and semester basis. Please note that payment plans are not available for the Summer terms. The payment plan is not a loan program. You have no debt, there are no interest or finance charges assessed, and there is no credit check. The cost to budget your interest-free monthly payment plan is a $75 nonrefundable enrollment fee per agreement. You may budget your tuition and fees in the following ways:

  • Automatic Bank Payment (ACH)—ACH payments are those payments you have authorized Nelnet to process directly with your financial institution. It is simply a bank-to- bank transfer of funds that you have preapproved for your expenses at Quinnipiac University. Payments may be made from either your checking or savings account. Payments are processed on the 5th of each month and will continue until the balance is paid in full.
  • Credit Card Option—Paying with your credit card gives you the option of taking advantage of any bonus programs that may be offered by your credit card company. If you elect to use this option, your monthly payment, along with a convenience fee, will be automatically charged to the credit card you designate. The convenience fee is in addition to the nonrefundable enrollment fee. Payments will be charged on the 5th of each month until the balance is paid in full. Payments are processed by American Card Services, Inc.

Please also be aware that by enrolling in a payment plan, you are entitled to a Nelnet provided group life insurance product that will pay the remaining balance of the agreement to Quinnipiac University in the event of the Responsible Party’s death. Coverage is limited to individuals under the age of 70 and a death certificate must be provided.

To enroll in the payment plan or to make a single or full payment, click on the e-Cashier link below and follow the instructions. Be sure to have the following information:

  • Seven-digit student ID number as assigned by Quinnipiac University.
  • The name, address, and e-mail address of the person responsible for making the payments.
  • To protect your privacy, you will need to create your own unique Nelnet Access Code. Please be sure it is something you can easily remember.
  • Account information for the person responsible for payment.
  • If paying by automatic bank payments, you will need the bank name, telephone number, account number, and the bank routing number. Most of this information is located on your check.
  • If paying by credit card, you will need the credit card number and expiration date.

By Mail/In-Person Payment Options
Return Check or Money Order payable to Quinnipiac University, Bursar's Office AB-BRS, 275 Mt. Carmel Avenue, Hamden, CT. 06518, along with your completed Payment Worksheet (i.e. bottom stub of your invoice). Wire Payments are also accepted by contacting the Bursar's Office at Credit card payments will only be accepted online via the e-Cashier link mentioned above.

Late Payment
Students who remit payment after the due date will be charged a late fee of 1% per month on the outstanding balance. In addition, resident students may forfeit their room reservation deposit as well as their reserved residence hall accommodations.