Loan Programs

To receive a Stafford Student Loan and other types of need-based jobs and loans, you must complete a Free Application for Federal Student Aid (FAFSA) and Drexel's Institutional Financial Aid Application. It is recommended that you complete your application by May 1.

Note: Students must enter "Drexel University" and Drexel's school code number 003256 on the FAFSA.

Federal income tax forms are not required with the FAFSA, although you may be required to supply copies of your income tax forms at a later date.

Federal Stafford Student Loan

An applicant who qualifies for this subsidized loan pays no interest or principal until after leaving school.

A graduate student may borrow up to $8,500 per year. Every student applying for a Federal Stafford Student Loan must undergo a needs analysis to determine an expected family contribution. The interest is currently fixed at 6.8 percent. The government will pay the interest on loans until six months after the borrower has terminated studies.

Learn more about the Federal Stafford Student Loan.

Unsubsidized Federal Stafford Student Loan

The Unsubsidized Federal Stafford Student Loan provides an opportunity for students who fail to meet the income and financial need standards of the subsidized Federal Stafford Student Loan to benefit from the same low interest rate. The Unsubsidized Federal Stafford Student Loan can be issued for the full amount of eligibility or in combination with a subsidized Federal Stafford Student Loan. Graduate students may borrow up to $12,000 (can supplement subsidized loans); students may borrow up to $8,500 in additional unsubsidized amounts if not qualified for subsidized loans. The interest must be paid by the student unless a deferment is requested while he or she is enrolled in school. Repayment of the principal starts six months after the student leaves school. Students may take up to 10 years to repay the loan.

Learn more about the Unsubsidized Federal Stafford Student Loan.

Graduate PLUS Loan

The Graduate PLUS Loan is made available to graduate and professional students who are enrolled at least half-time and have exhausted their Stafford Loan eligibility for the academic year or who have reached their aggregate limit and meet the necessary requirements for the program.

Learn more about the Federal PLUS Loan.

Private Education Loan

A private education loan is a credit-based consumer loan that can be used to pay any education-related expenses, including tuition and fees, books, and transportation. When the lender has determined if the student meets the approval criteria, the lender will contact Drexel for the school certification. After the certification has been provided, the lender will issue a disclosure statement detailing the loan agreement. If you request to borrow an amount that exceeds eligibility, Drexel will reduce the requested amount to comply with federal guidelines.

Learn more about the Private Education Loan.