Loans

Direct Loans are low-interest loans available to degree-seeking students enrolled at least half time. The lender is the US Department of Education, authorized under the William D. Ford Federal Direct Loan Program. An origination fee will be deducted from each disbursement by the Department of Education. Unsubsidized loans are not based on need, although you must file the FAFSA to be considered. Interest will be charged from the time the loan is disbursed to you until it is paid in full. You can choose to pay the interest while you are in school or allow it to accumulate. However, allowing it to accumulate will increase the total amount you have to repay. Interest is capitalized once at repayment, forbearance, deferment, and consolidation. For more information on Direct Loans visit the Federal Student Aid website. 

The Direct Graduate PLUS Loan is available to degree-seeking students enrolled at least half time. The Direct Graduate PLUS Loan has a fixed interest rate set by the US Department of Education every July 1. An origination fee will be deducted from each disbursement by the Department of Education. This loan is not based on need, although you must file the FAFSA to be considered and must first be offered Federal Direct Unsubsidized Loan eligibility. You may borrow up to the full cost of attendance (as defined by the Emory Office of Financial Aid) minus other aid. Interest will be charged from the time the loan is disbursed until it is paid in full. Repayment begins six months after the borrower ceases to be enrolled at least half time, withdraws, or graduates. The Direct Graduate PLUS Loan is credit based but the required credit criteria may be less stringent than for private education loans. 

Private educational loans can be an important funding source for students who need more loan funds than the federal programs provide. However, maximum federal loan eligibility should be used before a private loan is considered. Students must be enrolled in a degree-seeking program to apply for a private educational loan. The terms of private loans vary significantly and require a credit check and/or debt-to-income ratio check on the borrower and/or co-borrower. A co-borrower may be required, and lower interest rates may be available to students who choose to have a co-borrower.

In an effort to assist students and families in choosing a lender, the Office of Financial Aid has compiled a lender list of private loan providers to Emory University students over the past three years. Please note that you are not required to use any of these lenders—the choice of lender is yours. The Office of Financial Aid will process your loan with any lender you choose. Further, the list of lenders is not in any order of preference. Choose your lender carefully, with the intent that you will remain with that lender throughout your studies at Emory.

The US Congress mandated that private loan lenders collect a self-certification form before disbursing a private educational loan. The Applicant Self-Certification Form contains both the form and the instructions on where to locate the required financial aid information for section 2. The form must be returned to the lender and should not be submitted to the Office of Financial Aid.