Loan Information

Federal Direct Stafford Loan (Unsubsidized only beginning July 1, 2012)

Loans are available to students enrolled for at least three credit hours per semester. You may borrow up to $20,500 per academic year. The total amount outstanding that you may borrow for undergraduate and graduate study is $138,500, with no more than $65,500 in subsidized loans. The annual interest set for disbursement periods between July 1, 2017 and June 30, 2018 is a fixed rate 6.00%. This is the established rate set for the life of that loan. The unsubsidized Federal Direct Stafford Loan requires that the interest must be paid by the student, on a quarterly basis, while the student is enrolled in school. Deferment of the interest payments is available.

A Free Application for Federal Student Aid must be filed at prior to certification of a loan application by the school. You must maintain satisfactory progress to renew your loan. 

You must also file a Federal Direct Stafford Master Promissory Note at to apply for a Federal Direct Stafford Loan. If you borrowed previously, your Federal Direct Stafford Master Promissory Note is good for 10 years.  In addition, you need to complete entrance counseling (see next section below).

The interest paid toward your Federal Direct Stafford Loans may be tax deductible. Check with your accountant or with the Internal Revenue Service at for additional information.

There may be up to a 1.066% loan origination fee deducted from the face value of the loan.

Entrance and Exit Counseling

Federal law requires that when you borrow through the Federal  Direct Stafford Loan Program for the first time; you must complete an entrance counseling. This can be completed at

In addition, when you graduate, withdraw or enroll less than half-time, you must complete exit counseling. Exit counseling can also be completed at

Federal Direct Graduate PLUS Loan

Graduate students may borrow up to the student’s cost of attendance minus any financial aid that the student is expected to receive. Students must be enrolled in at least 3 credits per semester and be creditworthy. The annual interest rate set for loans disbursed between July 1, 2017 and June 30, 2018 is a fixed rate of 7.00%. This is the rate for the life of that loan. Repayment of principal and interest begins 60 days after the loan is fully disbursed. A deferment option is available.

Loan fees of 4.264% will be deducted by the Federal Government from the face value of the loan.  

The interest paid toward your Federal Graduate PLUS Loans may be tax deductible. Check with your accountant or with the Internal Revenue Service at for additional information.

To apply, you will need to complete a Free Application for Federal Student AId (FAFSA) at and a Federal Graduate PLUS Master Promissory Note at



Exit Interviews for Perkins Loans

Federal law requires that every student who has obtained a Federal Perkins Loan through Philadelphia University must have the opportunity for an exit interview before leaving the University. During this brief meeting, a representative from the Financial Aid Office will explain provisions for loan repayment and privileges for deferment of payment to the student borrower. The financial aid office will contact the borrowers prior to their anticipated graduation dates to remind them of the necessity for an exit interview. However, each student is responsible for scheduling the interview even if he or she withdraws from the University at any time prior to graduation. Exit interviews can be completed at

Repayment Information

The U.S. Department of Education's National Student Loan Data System (NSLDS) provides information on your federal loans including loan types, disbursed amounts, outstanding principal and interest, and the total amount of all your loans. To access NSLDS, go to

For more information click on the following topic:

Veterans and Veterans' Dependents Benefits

If you are veteran who served on continuous active duty for 181 days or more after January 31, 1955, you may be eligible for educational benefits under the Montgomery G.I. Bill® or Veterans Educational Assistance Program (VEAP). In addition, a variety of loans, employment opportunities and other forms of financial assistance are available to veterans. If you are a dependent of a veteran who died or is permanently disabled as a result of service in the Armed Services, or if you are serving in the services, you may be eligible for educational benefits. For further information contact the Financial Aid Office.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA)

International Students

International students applying for, or currently holding student visas or any type of non-immigrant visa, are not eligible for federal funds, including Federal Perkins Loan, Federal Work Study and the Federal Stafford Loan.

Tuition Payment Plan.

At the point of registration, students may remit one-third of the balance due if they choose to participate in the deferred payment plan. A fee of 1% per month on the outstanding balance will be assessed. Students will be invoiced for the remaining payments.  Contact Student Accounts at or go to to sign up.

Alternative Loans

An alternative loan can help to pay the student’s remaining expenses after financial aid has been applied to the bill. The alternative loans are credit-based and offer flexible repayment options. Alternative loans are to be used to supplement other forms of financial aid. Alternative loans are student loans, with the student listed as the borrower.  Most alternative loans will require that the student also have a credit worthy co-signer in order to be eligible.  Interest rates are variable and are set by the individual lender.  Additional information about alternative loans is available in the financial aid office.