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Federal Direct Loan
(for U.S. Citizens and Permanent Residents only)
The Federal Direct Loan is a guaranteed student loan. The Federal Government has made the maximum amount of this loan available to all graduate students regardless of credit score or credit history.
- Maximum amount of $20,500 per year (3 allotments of $20,500 are available over the duration of the MBA for Executives program)
- Fixed interest rate of 6.8%
- Origination fee of 1%
- Standard repayment term of 10 years
- Repayment begins 6 months after the last day of classes
- To learn how to apply for a Federal Direct Loan, please visit our Applying for Financial Aid page
- Additional information about the Federal Direct Loan can be found on the Department of Education's website
Federal Direct Graduate PLUS Loan
(for U.S. Citizens and Permanent Residents only)
Since Federal Direct Loans only provide up to $20,500 per year, any additional funds needed to cover tuition and living expenses may be borrowed as a Federal Direct Graduate PLUS Loan.
- Fixed interest rate of 7.9%
- Origination fee of 4%
- Standard repayment term of 10 years
- Repayment begins 60 days after loan has been disbursed but may be deferred until 6 months after the last day of classes
- To learn how to apply for a Federal Direct Loan, please visit our Applying for Financial Aid page
- Additional information about the Federal Direct Loan can be found on the Department of Education's website
Private Loans (Third-Party Lenders)
Although students may finance the full cost of attendance using federal student loans, students my research alternative student loan options through private lenders.
- Most private student loans having floating interest rates based upon Prime or LIBOR, with a margin determined by the borrower's credit score
- Repayment terms are between 10 and 20 years and benefits are minimal
- Private loans typically cannot be consolidated
- Two resources to help students interested in searching for private loans are:
Loans for International Students
- The Darden School international loan program is only available to international students who will reside in the U.S. throughout the MBA for Executives program
- International students may borrow up to $65,000 each year through this program
- International students who have U.S. Citizen or Permanent Resident co-signer are encouraged to research other third-party loan options, as they may find more favorable terms than those offered by this program
- To learn more about financial aid for international students, visit our Applying for Financial Aid
Loan Calculators