Quinnipiac University
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Types of Aid

Loans

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

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 59% 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 2.6% for the 2017 fiscal year. The national average for the same time period is 9.7%.

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)

If you will be attending Quinnipiac’s undergraduate programs and are a first-time borrower of federal loans, you are required to complete Entrance Loan Counseling and the Loan Agreement Master Promissory Note (MPN) for your 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 always recommend you borrow the Federal Direct loans first, Parent PLUS loans second and all other private/alternative loans as a last resort.

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.

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.

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

Yes. All PLUS loan borrowers must have a FAFSA on file.

Learn more about parent PLUS loans

Students whose parents are denied a PLUS can borrow an additional Unsubsidized Direct Loan based upon their grade level. Parent PLUS will notify the school of the credit denial for further processing.

Learn more about parent PLUS loans

Students with multiple loans and a high monthly payment may want to consider loan consolidation as an option.

Learn more about loan consolidation

We're here to help you understand your options. Please call, email, write or simply drop in to see us in the Office of Financial Aid. 

Contact Undergrad Financial Aid

Loan Repayment Resources

Below are some additional 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

Access the Financial Aid Self-Service Portal
Learn more

Looking for information about COVID-19 financial assistance?
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