Learn More About Thunderbird

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. Private education loan programs are options for all applicants, including international students. The Free Application for Federal Student Aid and the Financial Aid Data forms are required to determine eligibility.

Loan Programs

Subsidized Stafford

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

Qualifications: Financial need; must be a U.S. citizen or legal resident
Award value: Maximum amount - $8,500 per year
Available for: Entering and continuing students
Interest rate: Fixed 6.8%
Loan fees: Vary depending on the student loan institutions used (up to 3%)
Grace period: 6 months

Unsubsidized Stafford

Qualifications: Not based on financial need; must be a U.S. citizen or legal resident
Award value: Maximum amount - $20,500 per year
Available for: Entering and continuing students
Interest rate: Fixed 6.8%
Loan fees: 1%
Grace period: 6 months

Federal 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: 4% origination fee
Grace period: 45 days

Private Education Loan Program

Non-government loans

Qualifications: Must be a U.S. citizen, legal resident or foreign national living in the U.S. with a U.S. citizen or legal resident as co-signer with a good US 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: 6 months

For all loans except private education, the Free Application for Federal Student Aid (FAFSA) should be submitted by the priority filing date:

Fall term - February 15
Spring term - 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 the External Resources page in the left menu bar.

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 and transportation for on site classes.