Loans

A loan is money that you must repay with interest under varying terms and conditions. Federal Direct Stafford loan is available to most graduate students regardless of need. Direct PLUS loan is a federal loan, and there are Private or Alternative loans that a graduate student can use to help pay for education expenses not covered by other financial aid.

Federal Direct Unsubsidized Loan

For more information on the Federal Direct Unsubsidized Loan program, interest rates and fees, terms, and loan limits; please visit the Federal Student Aid website.

Graduate students are eligible for a Federal Direct Unsubsidized Loan up to $20,500 per academic year. To help finance your Concordia University Irvine education with a Federal Direct Unsubsidized Loan please follow the steps in the order outlined below.

Fill out a FAFSA (Free Application for Federal Student Aid)
Complete Entrance Counseling and sign a Loan Agreement for an Unsubsidized Loan (MPN)

Federal Direct PLUS Loan for Graduate Students

For more information on Direct PLUS Loan program, interest rates and fees, terms, and loan limits; please visit the Federal Student Aid website.

Graduate students are eligible to borrow through the Direct PLUS Loan program. You must not have an adverse credit history. The maximum loan amount is the cost of attendance minus any other financial aid received. Please follow the steps to apply outlined below.

Apply for a PLUS Loan
Complete Loan Agreement for a PLUS Loan (MPN)

What if I'm not approved?

If you were initially declined for the PLUS loan you can either obtain an endorser (cosigner), or choose to appeal the reason you were declined.

Appeal

Call the Direct Loan Servicing Center for instructions at 800-557-7394. You will receive an answer regarding your appeal within 7-10 business days of all required documentation for the appeal being received. You will need to complete PLUS Credit Counseling.

Endorser

If you elect to use an endorser, you must start by having the endorser get their own Federal Student Aid ID. Once the endorser's FSA ID is active, they will log into the studentaid.gov site and select "Endorse a PLUS Loan." The endorser must pass a credit check. If approved, they will be asked to note how much they are willing to endorse. The PLUS loan amount cannot exceed what the endorser is willing to guarantee. Lastly, the borrower signs the Loan Agreement for a PLUS Loan (MPN). The endorser does not sign the Loan Agreement.

Private or Alternative Loan

International students may apply for private student loans through banks, credit unions, or other lending institutions. It is important to remember that Federal education loans are less expensive and offer better terms than private lenders. US Citizens and permanent residents should only consider private loans after all other borrowing options have been explored.

Interest Rates and Fees

Rates and fees vary from lender to lender.

Term

Terms are typically between 5 and 15 years.

Eligibility

Student Loan Eligibility = Cost of Attendance minus Financial Aid from Concordia and other sources.

How to apply

All loan borrowers at CUI are required to complete the Free Application for Federal Student Aid (FAFSA).

Select a lender from those provided on our lender list or choose your own and complete that lender’s application process.

Resources

How to shop for a Private | Alternative loan – An Overview

Fixed vs. Variable - Which is right for you?