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 (Unsubsidized)
The Unsubsidized Federal Stafford Student Loan
provides an opportunity for students to borrow guaranteed funds from the government at a lower interest rate. Graduate students may borrow up
to $20,500. 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.