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Important Note: Federal Stafford Loans should always be borrowed before borrowing a Grad PLUS or a Private Alternative Loan

 
Federal Direct Unsubsidized Loan
Federal Direct Grad PLUS
Private Alternative Loan
Interest Rate
Fixed at 6.00% for loans disbursed between July 1, 2017 and June 30, 2018 Fixed at 7.00% for loans disbursed between July 1, 2017 and June 30, 2018 Accrues quarterly or monthly at variable rate determined by lender
Interest Rate Cap
9.50% 10.50% Varies by lender and loan
In-School Interest
Yes Yes Yes
Loan Fees (for loans first disbursed)

1.069% between 10/1/16 and 9/30/17

1.066% between 10/1/17 and 9/30/18

4.276% between 10/1/16 and 9/30/17

4.264% between 10/1/17 and 9/30/18

Varies by lender and loan
Enrollment requirements
Minimum half-time Minimum half-time Varies by lender and loan
Credit Check
No Yes (No adverse credit) Yes (Must meet FICO requirements set by lender)
Cosigner Required
No No Varies by lender and loan
Annual Loan Limit

$20,500 – Grad/Prof $47,167 – Dental (years 1,2,3) $40,500 – Dental, year 4
$36,167 - 12 mo. CLPS-PHD
$33,000 - 9 mo. CLPS-PHD

Cost less aid Cost less aid
Aggregate Loan Limit
$138,500 – Grad/Prof $224,000 – Dental and CLPS-PHD No Varies by lender
How to Apply
  • Complete FAFSA
  • Accept loan(s) – CheckMarq Student Center, View Financial Aid, Accept/Decline My Financial Aid
  • Complete FAFSA
  • Complete Grad PLUS Loan Credit Authorization Form from: Marquette Central (www.mu.edu/mucentral) Financial aid Forms
  • Lender Charts and Online Applications at: Marquette Central (www.mu.edu/mucentral), Loans
Master Promissory Note
Yes Yes Varies by lender
Grace Period
6 months Yes Varies by lender
Deferments or Forbearance
Yes Yes Varies by lender
Eligible for Federal Consolidation
Yes Yes No

 

Grad/professional loan comparison chart PDF icon

 

OFFICE OF STUDENT FINANCIAL AID

The Office of Student Financial Aid provides undergraduate and graduate students with resources about types of financial aid and student employment.



FAFSA School Code: 003863

Questions or for more information, contact the Office of Student Financial Aid