IWU Loan

Type of aid:Loan - must be repaid
Award amounts:Varies
Filing deadline:Open
Application process:Dependent students must have their parents first apply for a federal Parent PLUS Loan. If the federal Parent PLUS Loan is denied, the student must then borrow their full eligibility of additional Unsubsidized Stafford Loan before consideration can be given for IWU Loan eligibility. Appropriate loan paperwork must be completed once eligibility is established.
Eligibility requirements:Dependent students must have a Parent PLUS Loan denial and maximize their federal student loan borrowing first. Students are encouraged to seek out other alternative loan options before requesting an IWU Loan, since many lenders may offer more attractive terms and repayment conditions. The IWU Loan should be considered as a loan of last resort.
EFC eligibility range:Open
Enrollment requirements:Full-time enrollment each fall and spring semester is strongly encouraged
Grade-level eligibility:All degree-seeking students
Special rules:Repayment on principal and interest begins six (6) months after the date the borrower ceases to be enrolled half-time and no interest accrues until that time. Interest on this loan is a fixed rate of 8.75.
Costs this aid can cover:Any educationally related expense

FAFSA Code: 001822

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