Decrease font Decrease font
Decrease font Decrease font
Enlarge font Enlarge font
Enlarge font Enlarge font

Thunderbird participates in a student loan program offered through private sources – banks and other organizations whose only business is student loans. These loans must be repaid. This program is only open to U.S. citizens and legal residents or eligible non-citizens such as permanent residents of the U.S.

Loan Programs

Loan Application Process

  • Step 1: Visit the Web sites listed on the External Resources page or contact a lender of your choice for loan details. Review the Private Education Loan section below for terms and application process.

  • Step 2: Contact Thunderbird's Financial Aid Office with any questions and information regarding the loan amount possible to borrow.

  • Step 3: Be aware of your credit information and request a copy of your credit report so you know whether or not you have any credit issues that should be resolved before applying for this loan. To obtain a copy of your credit report, choose from one of the following:

  • Step 4: Apply online for the private education loan – but no earlier than six months prior to the beginning of your program. The credit information is not valid for more than that amount of time for most lending organizations.

  • Step 5: Respond to any request for information by the lender.

  • Step 6: Thunderbird is notified once a loan has been approved by the lending organization. The Financial Aid Office confirms your eligibility for and will certify the loan and inform the lender approximately one month prior to the start of the program. You are notified when this step occurs.

  • Step 7: Funds arrive and are applied to tuition charges. The Financial Aid Office reconfirms your eligibility for the loan. You are notified when this step occurs.

Private Education Loan Program

Non-government Loan

  • Qualifications: Must be a U.S. citizen, legal resident or eligible non-citizen such as a permanent resident of the U.S.

  • 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; for example: Prime +2%, no rate cap.

  • Loan Fees: Vary depending on credit and lender.

  • Grace Period: Six months.

It is important to carefully evaluate your financial situation as you review this loan option. You are encouraged to develop a budget so that you have a clear understanding of your financial needs; a good credit record is required. Applicants and students who may not have a good credit record or resources to pay for educational expenses 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.

The total financial assistance you are eligible to receive is limited to tuition and transportation expenses.

contact

For further questions, please contact:

Financial Aid Department
Phone: +1 602-978-7130
Fax: +1 602-978-7787
E-mail: finaid@thunderbird.edu