Title IV Accredited U.S. Schools1
Funder: U.S. Deparment of Education
Study in: USA
Loan Value: You may finance up to the cost of attendance, minus any other financial aid received.
All accepted U.S. citizens, legal permanent residents, or eligible non-citizens2 who do not have adverse credit history6. The three basic rules are summarized here:
- The U.S. Department of Education is the lender.
- The borrower must not have an adverse credit history.
- The maximum loan amount is the student’s cost of attendance (determined by the school) minus any other financial aid received.
- There is a loan origination fee of around 4.292% (up until 1 October 2015) and 4.272% thereafter.
- Loan interest rates are fixed, currently at 6.84%3.
- Loan repayments begin six months after graduation.
All students must fill out a free federal student aid form4. Successful applicants will be required to sign a Master Promissory Note. Contact the student financial aid office of your school for complete instructions.
→ Varies by State5
Website: Direct Plus MBA Loans