Additional Loans
Alternative/Private Education Loan
Private loans are an additional way to finance the costs of higher education when federal direct options are exhausted. They are offered through private lenders whose loans are unassociated with any federal student loan program. Typically, private loans are credit-based, which means that borrowers are required to pass a credit check. In some cases, a cosigner may be required.
Compare Rates and Apply for a Loan
Many lenders have elected to provide accurate rates and terms for students to compare. Two such comparative websites are provided below.
INvested
You may view a list of national and local lenders, or you may begin the INvestEd Marketplace process.
FASTChoice
Begin the FASTChoice process or view more information for an Alternative/Private Education Loan.
IWU will certify your education loan from any lender you choose even if that lender does not appear at one of the links above.
Graduate PLUS Federal Direct Loan
Graduate PLUS Federal Direct Loans are an option for graduate students when subsidized/unsubsidized Federal Direct Loans and other financial aid do not cover their full educational costs. Graduate PLUS Federal Direct Loans have a fixed interest rate for the life of the loan.
You can view more information or complete the steps below in order to be considered for a Graduate PLUS Federal Direct Loan:
Complete the 3-step process below on the Federal Student Aid website to be considered for a Graduate PLUS Federal Direct Loan. You must have an established Federal Student Aid (FSA) username and password in order to complete these items. For each item you must enter "Indiana" in the School State field even if you attend classes in another state or online.
-
Application and Credit Check
Log in using your FSA username and password. Hover over "Loans and Grants" in the navigation bar and select "PLUS Loans: Grad PLUS and Parent PLUS" under the "Get a Loan" heading to the left. Click on the "Learn More" button in the "I am a Graduate or Professional Student" section and on the next page start the "William D. Ford Federal Direct Loan Program: Direct PLUS Loan Application." You must complete the entire application, including the credit check, to be considered. -
Master Promissory Note
Hover over "Loans and Grants" in the navigation bar and select "Master Promissory Note (MPN)" under the "Get a Loan" heading to the left. Click on the "Select MPN Type" button in the "I'm a Graduate/Professional Student" section and on the next page start the "MPN for Direct PLUS Loans." -
Entrance Counseling Session
Hover over "Loans and Grants" in the navigation bar and select "Loan Entrance Counseling" under the "Get a Loan" heading to the left. On the next page, click on the "Start" button in the "I am a Graduate or Professional Student" section.
Parent PLUS Federal Direct Loan
A parent can borrow a Parent PLUS Federal Direct Loan to help pay for the cost of a dependent's undergraduate education. Parent PLUS Federal Direct Loans have a fixed interest rate for the life of the loan.
You can view more information or complete the steps below in order to be considered for a Parent PLUS Federal Direct Loan:
Complete the 2-step process below on the Federal Student Aid website to be considered for a Graduate PLUS Federal Direct Loan. You must have an established Federal Student Aid (FSA) username and password in order to complete these items. For each item you must enter "Indiana" in the School State field even if you attend classes in another state or online.
-
Application and Credit Check
Log in using your FSA username and password. Hover over "Loans and Grants" in the navigation bar and select "PLUS Loans: Grad PLUS and Parent PLUS" under the "Get a Loan" heading to the left. Click on the "Learn More" button in the "I am a Parent of a Student" section and on the next page start the "William D. Ford Federal Direct Loan Program: Direct PLUS Loan Application." You must complete the entire application, including the credit check, to be considered. -
Master Promissory Note
Hover over "Loans and Grants" in the navigation bar and select "Master Promissory Note (MPN)" under the "Get a Loan" heading to the left. On the next page, click on the "Start" button in the "I'm a Parent of an Undergraduate Student" section.
Contact Info
Indiana Wesleyan University
Financial Aid Office
1886 W. 50th St.
Marion, IN 46953
1-866-498-4968
765-677-2516
Fax: 765-677-2030
IWUfinaid@indwes.edu
FAFSA Code: 001822
Free Application for Federal Student Aid