George Fox University participates in the Direct Loan Program for the Federal Unsubsidized Stafford Loan. Eligibility for the Unsubsidized Stafford is determined by filling out the FAFSA, being enrolled at least half-time and other enrollment factors. Students are responsible for the interest charged to their Unsubsidized Stafford Loan.  The interest rate for 2013-14 for the Graduate Unsubsidized Stafford Loan will be 5.41%. This loan has a fixed interest rate. Repayment begins 6 months after graduation or attending less than half-time.

Maximum Total Debt from Stafford Loans When You Graduate (aggregate loan limits)
Dependent Students $31,000—No more than $23,000 of this amount may be in subsidized loans.
Independent Undergraduate Students (and Dependent Students whose parents cannot borrow from the PLUS loan program) $57,500—No more than $23,000 of this amount may be in subsidized loans.
Graduate and Professional Degree Students $138,500—No more than $65,500 of this amount may be in subsidized loans. The graduate debt limit includes Stafford Loans received for undergraduate study.

Graduate students may also consider the Federal Direct Grad PLUS Program if additional aid is needed beyond the Stafford Loan Program. To be eligible for a Grad PLUS Loan students must file the FAFSA and be able to pass a credit check.  Students that have adverse credit may still be able to borrow with a credit worthy co-borrower. The interest rate for the Grad PLUS is fixed at 6.41%. The Grad PLUS loan interest is unsubsidized and is the responsibility of the student. Students can choose to pay the interest while in school or to defer payment.  Unpaid interest will be added to the students loan balance.  There will be a 4.2% origination fee that will be deducted from the Grad PLUS before it disburses to the student account.

For additional information on federal student loans, click here

Alternative Loans

Alternative loans are private loans that are not part of the federal financial aid program. Interest rates and fees vary greatly and may depend on the borrower’s credit-worthiness. Generally, students are required to have a co-signer. Loan amounts cannot exceed the cost of attendance less other financial aid.

You can view and compare private loan options from lenders that have provided private loans to George Fox students in the past. While these resources will help you make an informed decision about the most appropriate loan for you, please note that you are not required to select a lender on this list.

Note: You cannot borrow more than the cost of education as determined by the budget for the school year.

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