Suggested deadlines:

While there is no final deadline for student loans, students who intend to use a loan disbursement to pay for tuition costs should have all parts of the application process (including submission of the cost estimator worksheet to the financial aid office) completed by the following dates:

  • Fall Term – July 1
  • Winter Term – November 1
  • Spring Term – December 1
  • Summer Term – April 1

Tips for borrowing:

  • Only borrow what you need
    • Remember that every dollar that is borrowed will be required to be repaid in the future, plus interest. Calculate how much of your school-related expenses can be paid by other sources (scholarships, payment plan) and then apply for a loan for the remaining amount.
  • Make monthly payments while in school
    • Paying off the interest that accrues each month while in school can amount to large savings after you graduate. Some lenders offer lower interest rates for students who make monthly payments while in school
  • Apply with a cosigner if possible
    • Applying with an eligible cosigner can often help students be approved for a lower interest rate. Also, having a cosigner can help students who do not have adequate credit history be approved for a loan who would not otherwise be eligible.
  • Compare interest rates of lenders before applying
    • Find a loan and interest rate that is the best fit for you. If you apply with multiple lenders, remember to cancel loans that you do not intend to use.