Federal Direct Unsubsidized Loan Program
A Federal unsubsidized loan is available to graduate students by filing a FAFSA. The maximum loan amount is $20,500 annually for graduate students. The interest rate is currently 7.05% fixed. Repayment of the interest and principal begins six months after graduation or enrollment ceases. The U.S. Department of Education provides a loan repayment calculator (estimate of repayment only). Current or former students may view their financial aid history by accessing the Federal Student Aid website.
An entrance counseling and Unsubsidized Loan MPN are required for any student receiving a Federal Direct Loan. You can use our Graduate Student Borrowers MPN and Entrance Counseling Instructions for step by step details on completing these forms.
An exit interview is required for any student that borrowed a Federal Direct Loan after they complete their program or cease at least half time enrollment.
Federal Direct Graduate PLUS Loan
The Graduate PLUS loan is a Federal loan program available to graduate students. Students can complete the application online. This application must be completed every time a new loan needs to be disbursed. The loan amount is determined either by request or by the eligibility remaining towards the cost of attendance. A credit check is required and will be processed by the Federal Government. The current interest rate is 8.05% fixed. Repayment is made through the Direct Loan Program and begins 60 days after the last disbursement of the loan is received. Usually the last disbursement is received in January. Payment deferments are available upon request at Studentaid.gov.
In addition to the Grad PLUS application, student must also complete the Grad PLUS MPN.
For detailed instructions on how to complete the online Grad PLUS application and MPN, please click here.
Private / Alternative Loans
There are several alternative loan programs available to students who need additional funding for school expenses. Alternative loans are not Federal student loans, but are credit based student loans that often require a cosigner. Repayment of alternative loans is usually deferred until the student graduates or ceases to be enrolled at least half-time. Below is a link that will help you through the process of deciding which Private Loan is best for you. FASTChoice makes it easy by providing you with simple but critical information about types of funding and money management. It also clearly presents your new responsibilities if you go on to borrow money. And finally, FASTChoice presents you with a collection of loan products in a way that makes it easy to compare and understand.
To apply for the GI Bill at WLU, a student must be accepted and registered. A veteran student applying for the first time needs to contact the Veterans Certifying Official for detailed information on the application process. If you have received the GI Bill prior to acceptance and registering at WLU, you will need to contact the Veterans Certifying Official for processing a request for Change of Place of Training. Prior to the certification of the GI Bill the student must complete the CERTIFICATION REQUEST FORM and be registered for the terms requested. Questions regarding the GI Bill should be directed to Michelle Filberto, Enrollment Services Coordinator. She can be reached at 304.336.8092 or you can email her at firstname.lastname@example.org. For more information or forms you can visit our Veterans page.
West Liberty University does have a payment plan available for students that need to break up the balance over a 5-month period for the semester. Please visit the Business Office website to set up your payment plan today. Please keep in mind that you must set up a plan each semester, as it does not carry from semester to semester.