Apply for Student Loans

Loan Options


Federal student loans are available at Denver Seminary for eligible students who need assistance in addition to grants & scholarships.

Due to the Budget Control Act of 2011, Subsidized loans are no longer available for graduate-level students.

Federal Direct Unsubsidized Loans

Unsubsidized loans are available to every student who completes a FAFSA, is enrolled at least half-time, and maintains Satisfactory Academic Progress.  Interest begins accruing immediately; however, the student is not required to make any payments while in deferment status.

How do I apply?

  1. Complete the Free Application for Federal Student Aid (FAFSA)

  2. Respond to offers through the Award Letter

  3. The following steps are only required for students applying for federal student loans for the first time at Denver Seminary. Once complete, they are valid for the remainder of the degree and thus do not need to be completed again.

First, complete a Master Promissory Note (MPN)
Second, complete Entrance Counseling

If an additional loan disbursement is needed after loans have already been accepted on the Award Letter, please complete a Loan Adjustment Request form (downloadable here).

Unsubsidized Loan Details

  • Eligibility based on completion of the FAFSA, half-time enrollment, maintaining Satisfactory Academic Progress.
  • 1.072% origination fee (withdrawn by lender prior to disbursement).
  • 5.41% fixed interest rate* (begins accruing upon disbursement).
  • Limit of $20,500 per academic year (graduate-level) or annual Cost of Attendance budget (whichever comes first), with an aggregate limit of $138,500.
  • Payments deferred while enrolled at least half-time (5 credits/semester master's-level, 1 credit/semester doctorate-level).
  • No prepayment penalties.
  • 6-month repayment grace period upon dropping below half-time (includes withdrawal, leave of absence and graduation).

Federal Direct PLUS Loans

Federal PLUS Loans should only be utilized after eligibility for Unsubsidized Loans has been exhausted. Eligibility requirements are the same as those for Direct Unsubsdized Loans in addition to completion of the Grad PLUS Loan application.

How do I apply?

  1. Complete the "Request a Direct PLUS Loan" process for a Graduate PLUS Loan at studentloans.gov.

  2. If this is your first time applying for a PLUS loan, complete a Graduate PLUS Master Promissory Note at studentloans.gov.

  3. Assuming the first 2 steps were completed successfully (including passing the credit check), submit a completed a Loan Increase Request form (downloadable here) to the Financial Aid Office.

PLUS Loan Details

  • Eligibility based on completion of the FAFSA, ineligibility for further Federal Unsubsidized Loans, passing a credit check, half-time enrollment, maintaining Satisfactory Academic Progress.
  • 4.288% origination fee (withdrawn by lender prior to disbursement).
  • 6.41% fixed interest rate* (begins accruing upon disbursement).
  • Limit of annual Cost of Attendance budget with no aggregate limit.
  • Payments deferred while enrolled at least half-time (5 credits/ semester master's-level, 1 credit/semester doctorate-level).
  • No prepayment penalties.
  • 6-month repayment grace period upon dropping below half-time (includes withdrawal, leave of absence and graduation).

Federal Loan Deadlines

The deadline to take out a student loan is the last day of the eligible semester/term. This means that a student can take out a loan disbursement at any time during the semester/term as long as the student is a degree-seeking student enrolled at least half-time (5 semester credits), assuming the student has not reached the annual limit ($20,500 for Unsubsidized, Cost Of Attendance (COA) for PLUS). 

A loan that is needed to cover a tuition/fees balance must be accepted/ requested at least three (3) weeks prior to the start of the applicable semester (which is 2 weeks prior to the applicable payment deadline) in order to ensure financial clearance and thus not be dropped from any registered courses. 

Alternative/Private Loans

Alternative loans (also known as private education loans) are typically offered by all major lenders. The terms and conditions of these loans may be less favorable than those of federal Title IV loans.

Note: With a few exceptions, most alternative loans must be certified by the Financial Aid Office. Some students may not be eligible for alternative loans, as the total amount of financial aid must remain within the institution's estimated Cost of Attendance budget (COA).

How do I apply?

Visit the lender's website and/or contact the lender directly. Below are some examples of alternative loan institutions

Compare federal and private loan programs at Discover's StudentLoan.com.

International Student Loans

While international students are not eligible to complete a FAFSA, there may be alternative loan options available. Many major lenders will lend to international students as long as the student has a U.S. citizen as a co-signer.

The following websites might be useful in discovering loan opportunities:

Estimated expenses and budget worksheets can be found on the International Master's Level Students page.

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