Quinnipiac University
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Types of Aid

Loans

There are a variety of resources available to finance your Quinnipiac education and borrowing loans is one of them. As you consider the educational loan programs, be sure to keep in mind not just the interest rates but also the terms, conditions and benefits. We encourage using the Federal Direct student loan first as it has a fixed interest rate, does not require a credit check and offers the best terms and conditions as it relates to repayment.  Federal Graduate PLUS loans or private educational loans are generally used once other options are exhausted since they require a credit check, interest rates are generally higher, a co-signer may be needed, and the terms and conditions could be less favorable.  Ultimately, the choice is which loan you select is yours; our goal is to help you make an informed decision.

Federal Direct Loan Programs

Private Loan Options

One type of loan to consider is a private educational loan. These loans are available to students when federal loans are not enough to cover the cost of attendance or for students that do not qualify for any federal loans. This include students who are enrolled less-than half-time or pursuing a certificate program. We strongly encourage students to exhaust their Federal Direct loan option prior to considering these loans.

Loan Counseling

New Borrowers
If you will be attending Quinnipiac’s graduate program as first-time borrowers of federal loans, you are required to complete these steps if you are borrowing a Federal Unsubsidized loan or Graduate PLUS loan:

  • Entrance Loan Counseling
  • Master Promissory Note (MPN)
  • Annual Student Loan Acknowledgement (ASLA) Process

Complete the Loan Process


Returning Borrowers

If you are a returning student, you will need to complete the Annual Student Loan Acknowledgement (ASLA) process for the Federal Unsubsidized loan or the Federal Graduate PLUS loan each year before the funds can be sent to the school.

Complete ASLA Process


Students Getting Ready to Graduate
You are required to complete an online Exit Counseling session if you graduate or drop below half-time enrollment.

Complete Exit Counseling

 

Loans FAQs

We always recommend you borrow the Federal Direct loan first, Federal Graduate PLUS second and all other private educational loans as a last resort.

Graduate students can borrow up to $20,500 in the Direct Unsubsidized loan, based on your enrollment and cost of attendance. Students needing additional funds can borrow a Federal Graduate PLUS loan or private educational loan up to the cost of attendance less any other aid offered.  

Be aware, students cannot exceed the Cost of Attendance with any education-related loan even if they are credit approved.

Rates and fees vary between loan programs. All borrowers are encouraged to review the Federal Direct Unsubsidized loan and Federal Graduate PLUS loan sections for details. Private educational loan interest rates are based on the lender of choice.

All borrowers should secure funds annually (based on how they have been awarded) 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.

Students who are denied a GradPLUS may elect to try and resolve the denial or seek an endorser (similar to a co-signer).

  • To resolve a Denial students work directly with the Department of Education regarding the credit override and can contact Application Services directly at 800-557-7394.
  • A Direct PLUS Loan borrower with an adverse credit history may still receive a Direct PLUS Loan if he/she obtains an endorser who does not have an adverse credit history. If seeking this option, an endorser would complete the Endorser Addendum and MPN. Additional information regarding the endorser process will be sent via email from the Department of Education.
  • Students who have adverse credit and have obtained an endorser or documented extenuating circumstances accepted by the Department of Education must complete PLUS Credit Counseling before funds can be send to the school.
    Review the Credit Counseling area

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