Loans Available to IUPUI Students
For all loans, you must meet the following eligibility criteria:
- Be enrolled at least half-time
- Undergraduates: 6 credit hours / semester
- Graduates: 4 credit hours / semester
- Be admitted into a degree-seeking program
- Meet Satisfactory Academic Progress (SAP) requirements
- Not be in default on prior educational loans.
Lender Options for Federal Stafford, Federal PLUS and Private Loans
Beginning with the 2008-2009 academic year, IUPUI and IUPUC will utilize the federal Direct Loan program for all federal Stafford and federal PLUS loans. The lender for the federal Direct Loan program is the US Department of Education.
Private student loans are offered by private lending institutions as an alternative aid option if additional funding is needed to supplement your state and federal aid. Before you consider borrowing a private student loan, we recommend you apply for federal student loans, which generally have better terms and lower interest rates.
Click on the loan type below for more information:
Federal Perkins
» Show / Hide Details- Eligibility: FAFSA filed by March 10; Undergraduates: EFC less than 4111; Graduates: Need greater than 18500.; Med/Dent: Need greater than 38,500
- Interest Rate: 5%, fixed
- Award Amount: $1000 undergraduates / $2000 graduates and Med/Dent
- Notes: Based on exceptional need and availability of funds. No origination fee. Payments deferred while enrolled at least half-time
- More Information
Federal Stafford
» Show / Hide Details- Eligibility: FAFSA filed; not based on need
- Interest Rate: 6.8%, fixed
- Award Amount: Varies based on cost of attendance, year in school, dependency status & previous borrowing
- Notes: Payments deferred while enrolled at least half-time. Interest begins accruing at the time of loan disbursement
- More Information
Federal PLUS
» Show / Hide Details- Eligibility: For parents of dependent undergraduate students or for independent graduate students
- Interest Rate: 7.9%, fixed
- Award Amount: Maximum: Student's cost of attendance minus all other aid
- Notes: Parent (dependent) or Student (graduate) must complete a separate PLUS application & meet the credit requirements
- More Information
Health Professions Loan (HPL)
» Show / Hide Details- Eligibility: Medical or Dental student; FAFSA filed; based on need
- Interest Rate: 5%, fixed
- Award Amount: Maximum: Mandatory fees + $2500
- Notes: Must submit FAFSA with parent information
Private / Alternative
» Show / Hide Details- Eligibility: General requirements above
- Interest Rate: Varies based upon credit
- Award Amount: Maximum: Cost of attendance minus all other aid
- Notes: Must complete a separate application with the lender & meet the credit requirements or apply with a credit-worthy cosigner.
- More Information
