Quinnipiac University
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Types of Aid


Borrowing money is one way to help you finance your Quinnipiac education.

Below, we provide information about the loan options available to you and include links to other resources to help you with this important decision.

Complete the FAFSA Opens in a new tab or window.

Considering Your Loan Options

Federal Loans

Federal Direct Student loans have a fixed interest rate, a low origination fee, and do not require a co-signer to secure the loan. Payments are deferred while attending school and in the six-month deferment period after you leave school. Federal student loans offer a variety of beneficial and flexible repayment options, as well as deferments, forbearance, forgiveness, and cancellation terms often not offered by private lenders.

Effective July 1, 2010, all colleges and universities are required to process Federal Direct Student Loans and PLUS Loans through the government’s Federal Direct Loan Program. Private lenders no longer participate in the federal loan programs.

Before applying for a private educational loan, we strongly encourage you to exhaust your federal financial aid options first, including the Federal Direct Loan Program. To qualify for federal financial aid, file your FAFSA on the government website.

Approximately 65% of students at Quinnipiac borrow one or more federal student loan. The U.S. Department of Education uses the Cohort Default Rate (CDR) as a measure of federal student loan repayment at post-secondary institutions. The CDR represents the percentage of borrowers who entered repayment at a point in time, then defaulted (failed to make payments) on their loan within a three year period. The official CDR for students entering repayment of their Federal Student Loans at Quinnipiac University is 2.3% for the 2018 fiscal year. The national average for the same time period is 7.3%.

Complete the FAFSA

Private Loans

Students are strongly encouraged to exhaust all of their grant, scholarship and federal loan options before considering private loans due to the favorable terms and conditions offered through the federal programs. Traditionally, private loans require the student to obtain a credit-worthy cosigner in order to secure the loan. A credit score is used as a tool to determine eligibility, interest rate offerings, and terms of repayment for private loans.

The Office of Financial Aid does not recommend lender lists for students or parents inquiring about private educational loans, however, we do guide families toward an educational lending website provided by ELMSelect, a non-profit organization that provides a free, unbiased comparison tool for private educational loans. We also suggest that you pay attention to your home state’s loan programs, which can often provide favorable terms, conditions, fees and interest rates on student and parent loans.

Visit ELMSelect

Explore Your Loan Options

Entrance Counseling and Master Promissory Note (MPN)

Undergraduate students attending Quinnipiac as a first-time borrower of federal loans are required to complete Entrance Loan Counseling and the Loan Agreement Master Promissory Note (MPN) for their Direct Subsidized/Unsubsidized loan before funds can be disbursed to the university.

Learn More About Entrance Counseling


Exit Counseling

Students are required to complete an online Exit Counseling session if they drop below half-time enrollment, graduate or leave school.

Learn More About Exit Counseling


Loans FAQs

We recommend accepting the federal student loan(s) offered as part of the student’s financial aid package first. Federal student loans often have a low fixed interest rate, do not require a credit check or co-signer, and offer favorable repayment options. If additional borrowing is needed to pay the balance due to the university, please see the options below:

The federal government offers each parent the opportunity to apply for a Parent PLUS loan. This is an educational loan in which the parent is the borrower, and the parent is responsible for repaying the loan. The borrower has the option to begin repaying the loan once the funds fully disburse to the school, or defer payments while their student is attending school on at least a half-time basis. The loan application is located at the Federal Student Aid website. The borrowing parent will sign in the website using their FSA ID, which is the same login used to electronically sign the FAFSA. You can create an ID on the website if you do not already have one. The government charges an origination fee for borrowing this loan. The fee is 4.228% of the borrowed amount of the loan. Remember to add this fee into the amount you decide to borrow. 

A student (or parent/guardian) can choose to borrow a private educational loan to fund the cost of attending college. Many of the private lenders are housed under the ELMselect educational lending website. As an undergraduate student, you will need a co-signer to secure the loan. The lenders provide their customer service phone numbers on the Elm Select website. We encourage you to reach out to the lender you are considering if you have any questions.

As a first-time federal student loan borrower, the government requires the student to sign in the the Federal Student Aid website using their FSA ID to:

  1. Complete Entrance Counseling – a question/answer online session regarding the terms and conditions of federal student loans, how interest works and repayment information.

  2. Sign an online Master Promissory Note – the promise to repay the loan, including any accrued interest, beginning 6 months after graduating or leaving college on a less than half-time basis.

Both requirements are located under the “Complete Aid Process” tab.

Yes. The Parent PLUS loan is a federal loan, and requires the student to file a FAFSA.

Learn more about the Parent PLUS loan

If a parent is denied credit for the PLUS loan, a first year or sophomore student will be offered an additional $4,000 unsubsidized government student loan ($5,000 for juniors and seniors) as part of their financial aid package for the school year. Parent PLUS will notify the school of the parent's credit decision in 24 to 48 hours. This additional student loan is allowable only if the PLUS loan decision is not overturned on appeal or endorsed for payment. Note: if one parent is denied credit but the other parent is approved to borrow the PLUS loan, the additional student loan is not allowable. Parent PLUS can be reached at 1-800-557-7394 with any questions.

Learn more about Parent PLUS loans

Federal Direct Student Loans (offered as part of the student’s financial aid package) borrowing limits are set by the federal government and are based on a student’s grade level. Parent PLUS and private loan borrowing limits include the difference between the cost of attendance, less all aid offered.

This is the choice of the borrower, however, we recommend borrowers 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 the fall and spring semesters. It also avoids multiple credit checks in one year which can often have an adverse effect on your credit score.

Rates and fees vary between loan programs. Students and parents are encouraged to learn more about loan options learn more about loan options.

We're here to help you understand your options. Please contact our office:

Call 203-582-8750

Email finaid@qu.edu

Loan Repayment Resources

Loan Forgiveness Programs

In certain situations, you can have your federal student loans forgiven, canceled or discharged. Learn more about the types of forgiveness and whether you qualify due to your job or other circumstances.
Learn more


Loan Repayment Plans

Before repayment begins, develop a plan that puts you on track to pay back your loan on time and in full.

Learn more about Federal Student Aid Loan Repayment Programs

Learn more about the Quinnipiac Loan Repayment Assistance Program


Federal 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.

Learn more about Federal Direct Loan Consolidation

Access the Financial Aid Self-Service Portal
Visit Self-Service

Changes and delays for the 2024-2025 FAFSA
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Federal student loan cancellation and repayment pause
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Code of Conduct

The Office of Financial Aid is pleased to provide you with a comprehensive set of standards that guides our offices and financial aid practices.

Read the full Code of Conduct