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Types of Loans


For all loans students must meet the following criteria:
   •  Be a U.S. citizen, U.S. national, or permanent resident of the United States
   •  Be admitted to a degree-seeking program
   •  Meet Satisfactory Academic Progress (SAP) requirements
   •  Not be in default on prior educational loans.


Lender(s) of Federal Stafford, Federal PLUS and Private Loans


IUPUI participates in the federal Direct Loan program for all federal Stafford and federal PLUS loans.  The lender for the federal Direct Loan program is the U.S. 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.

See below for more loan information:

    Federal Perkins Loan

    • Eligibility: First-time Freshmen who file the FAFSA by the on-time deadline of March 10; EFC less than 5081

    • Interest Rate: 5%, fixed

    • Award Amount: Perkins loans are $2,000 for the academic year, which will be distributed equally between the Fall and Spring terms.

    • Notes: Based on exceptional need and availability of funds. No origination fee. Payments deferred while enrolled at least half-time

      More Information »

    Federal Direct Stafford Loans

    • Eligibility: FAFSA filed; Subsidized Stafford (undergraduate students only) is based on need while the Unsubsidized Stafford is non-need based

    • Current Interest Rates

    • Award Amount: Varies based on type of degree, academic level, dependency status, cost of attendance, other awards and previous borrowing.

    • Notes: Principal payments deferred while enrolled at least half time. Interest on Unsubsidized portion of the loan begins accruing at the time of loan disbursement.

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    Federal Direct PLUS Loan

    • Eligibility: For parents of dependent undergraduate students or for graduate students

    • Current Interest Rates

    • Award Amount: The maximum is limited to the student's cost of attendance minus all other aid.

    • Notes: Parent (dependent) or Student (graduate) borrowers must complete a separate PLUS Loan application and meet the credit requirements (excluding borrowers from the schools of Dentistry, Law, Medicine,and Occupational & Physical Therapy).
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    Federal Nursing Loan (NSL)

    • Eligibility: FAFSA filed; must demonstrate financial need

    • Interest Rate: 5.0% fixed rate; interest does not accrue during deferment and grace periods

    • Award Amount: Awarded to students in selected Nursing Programs for the academic year with disbursements divided equally between fall and spring terms

    • Notes: These low-interest loans are made with government funds through a school's financial aid office. The school acts as the lender. You are not responsible for paying the interest on the loan while enrolled as at least a half-time student.

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    Health Professions Loan (HPL)

    • Eligibility: Need-based loan for Medical and DDS (dental) students who file FAFSA by priority deadline of March 10th.

    • Interest Rate: Fixed interest rate of 5%; subsidized; 12 month grace period prior to repayment.

    • Award Amount: Annual amounts vary based on available funding.

    • Notes: Student must include parent income information on the FAFSA to be considered for this loan option, regardless of age or marital status.

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    Private Loans

    • Eligibility: General requirements above

    • Interest Rate: Varies based upon credit

    • Award Amount: The maximum is limited to the student's cost of attendance minus all other aid

    • Notes: Loans are processed once eligibility for other financial aid has been determined. Must complete a separate application with the lender and meet the credit requirements or apply with a credit-worthy cosigner.

      More Information »


Additional Resources

•  Borrowers' Rights and Responsibilities

•  Consolidate Student Loans

•  Student Loan Debt Management