Loan Programs

Thunderbird participates in a variety of student loan programs from federal and private sources that must be repaid. These programs are outlined below.

The Free Application for Federal Student Aid (FAFSA) is required to determine eligibility for all loans below, except the “Private Education Loan Program” and the “Leo S. Rowe Fund.” For applicable loans, the FAFSA should be submitted by the preferred filing date:

 

Fall trimester – March 1

Spring trimester – September 15

Thunderbird FAFSA code: G01070

 

See a step-by-step guide for submitting the FAFSA.

 

LOAN PROGRAMS 

Federal Perkins

Qualifications: Must be a US citizen or legal resident; based on financial need

Award value: Maximum $8,000 per fiscal year

Interest rate: 5% (fixed)

Loan fees: None

Grace period: 9 months

Direct Unsubsidized Stafford

Qualifications: Must be a US citizen or legal resident; not based on financial need

Award value: Maximum $20,500 per year (2 terms full-time enrollment - 24 credits+)

Interest rate: 6.8% (fixed)

Loan fees: 1% deducted from disbursement

Grace period: 6 months

Federal Direct Grad Plus

Qualifications: Must be a US citizen or legal resident; not based on financial need

Award value: Up to the published cost of attendance less any other financial aid

Interest rate: 7.9% (fixed)

Loan fees: 4% deducted from disbursement

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 US citizen and an Arizona resident for a minimum of two years prior to enrollment

Award value: Maximum $1,000 per trimester or $2,000 per 12 months

Interest rate: 5% for first six years of repayment, 8% for remaining repayment period on unpaid balance

Loan fees: None

Grace period: 9 months

Private Education Loan Program: Non-government loans

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

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

Interest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)

Loan fees: Vary depending on credit and lender

Grace period: 6 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: $7,500 for 2 terms

Aggregate amount: $15,000

Interest rate: 0%

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