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:
$500 – $3,000 per trimester

Available For:
Entering and continuing students

Interest Rate:
Fixed 5%

Loan Fees:
None

Grace Period:
Nine Months

Subsidized Stafford

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

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

Available For:
Entering and continuing students

Interest Rate:
Fixed 6.8%

Loan Fees:
Will vary depending on the student loan institutions used (up to 3%)

Grace Period:
Six 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 borrower year less subsidized amount (2 terms full–time [12 credits+) enrollment)

Available For:
Entering and continuing students

Interest Rate:
Fixed 6.8%

Loan Fees:
Will vary depending on the student loan institutions used (up to 3%)

Grace Period:
Six 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 8.5%

Loan Fees:
3% origination fee
1% guarantee fee

Grace Period:
Six Months

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:
Fourty Five Days

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.

Short–term Emergency Loan Fund

Qualifications:
Available to all students

Award Value:
Amount $500 – $1500 per request, depending on personal circumstances
Institutional loan that must be paid back within 30 days

Available For:
Entering and continuing students

Interest Rate:
Interest Free

Loan Fees:
None

Grace Period:
Thirty Days

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

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

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.