Thunderbird participates in a variety of student loan programs from federal and private sources that must be repaid. Federal loan programs are options for U.S. citizens and legal residents.


Loan Programs

Federal loan programs are options for U.S. citizens and legal residents.

Private education loan programs are options for all applicants, including international students.

The free Application for Federal Student Aid (FAFSA) and the Financial Aid Data forms are required to determine eligibility. See External Resources.

 

Federal Perkins

Qualifications:
Based on Financial Need
Must be a U.S. Citizen or legal resident

Award Value:
Maximum Amount: $8,000 per fiscal year

Available For:
Entering and continuing students in the full time programs

Interest Rate:
Fixed 5%

Loan Fees:
None

Grace Period:
Nine Months

Direct Subsidized Stafford

Effective July 1, 2012, the Subsidized Stafford Loan will no longer be available to Graduate and Professional Students.

Qualifications:
Financial Need
Must be a U.S. Citizen or legal resident

Award Value:
Maximum Amount: $8,500 per borrower year (2 terms of full-time [12 credits+] enrollment)

Available For:
Entering and continuing students

Interest Rate:
Fixed 6.8%

Loan Fees:
For loans originated after 7/1/2010, loan origination fees will be 1% with an up-front rebate of .5%.

Grace Period:
Six Months

Direct Unsubsidized Stafford

Qualifications:
Not based on financial need
Must be a U.S. Citizen or legal resident

Award Value:
Maximum Amount: $20,500 per borrower year less subsidized amount (2 terms full-time [12 credits+] enrollment)  Effective July 1, 2012: Maximum Amount: $20,500 per borrower year (2 terms full-time [12 credits+] enrollment)

Available For:
Entering and continuing students

Interest Rate:
Fixed 6.8%

Loan Fees:
For loans originated after 7/1/2010, loan origination fees will be 1% with an up-front rebate of .5%. For loans originiated on or after 7/1/2012, loan origination fees will 1% with no rebate.

Grace Period:
Six Months

Federal Direct Grad Plus

Qualifications:
Not based on financial need
Must be a U.S. Citizen or legal resident

Award Value:
Maximum Amount: Up to the published cost of attendance less any other financial aid

Available For:
Entering and continuing students

Interest Rate:
Fixed 7.9%

Loan Fees:
For loans originated after 7/1/2010, loan origination fees will be 4% with an up-front rebate of 1.5% netting a 2.5% deduction from each disbursement. For loans originated on or after 7/1/2012, loan origination fees will be 4% with no rebate.

Grace Period:
Enters repayment within 45-60 days after graduation or enrollment at less than half time. A forbearance may be arranged with the loan servicers that will align repayment to begin with the Stafford loan.

Dougherty Foundation

Qualifications:
Must be a U.S. Citizen
Must be an Arizona resident for a minimum of two years prior to enrollment

Award Value:
$1,000 per trimester maximum
$2,000 per 12 months

Available For:
Entering and continuing students

Interest Rate:
5 – 8%

Loan Fees:
None

Grace Period:
9 months

Private Education Loan Program: Non–government loans

Qualifications:
Must be a U.S. Citizen, legal resident or foreign national with U.S. Citizen or legal resident as co-signer with a good U.S. credit history

Award Value:
Up to published cost of attendance per year, depending on lender, credit, and other financial aid

Available For:
Entering and continuing students

Interest Rate:
Varies depending on lender, Example: Prime +2%, no rate cap

Loan Fees:
Vary depending on credit and lender

Grace Period:
Six Months

Leo S. Rowe Fund

Qualifications:
Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0

Award Value:
2 terms: $7,500

Aggregate Amount: $15,000

Available For:
Entering and continuing students

Interest Rate:
Interest free

Students are expected to return to their home country to assist in development. For more information, please visit their website at http://www.oas.org.rowe/

For all loans except private education and Leo Rowe Fund, the FAFSA should be submitted by the priority filing date.

  • Fall trimester – February 15
  • Spring trimester – September 1

It is important to carefully evaluate your financial situation as you review the loan options. You are encouraged to develop a budget so that you have a clear understanding of your financial needs in conjunction with your aid options. As more financial aid needs include loans beyond the federal programs and/or personal resources, a good credit record is required. Applicants and students who may not have a good credit record or resources to pay for educational expenses (cost of attendance amount) will find it difficult to obtain financing for their education; it may be impossible if prior student loans are delinquent or in default. If you are aware of credit problems, you should begin work now on your credit record. You are encouraged to order a copy of your credit report. See External Resources.

The total financial assistance you are eligible to receive through institutional and outside scholarships, federal and private loans is limited by the published cost of attendance. Items taken into consideration include tuition, fees, health insurance, average housing, meals, books and supplies, transportation, and personal expenses for the student.