Federal Loans
Direct Student Loans
Federal Direct Student Loan recipients borrow directly from the federal government.
Undergraduate Federal Direct Student Loans can be subsidized – meaning interest does not accrue while the student is enrolled at least half-time, or unsubsidized – interest begins accruing at the time of disbursement. Subsidized loan eligibility is need based which is determined by FAFSA results and the amount of other financial assistance received. Changes in financial assistance or financial need can affect a student’s eligibility for subsidized loans.
All Federal Direct Student Loans for graduate students are unsubsidized.
PLUS Loans
Nursing Loan
Nursing Student Loans are federal loans which are awarded to nursing majors based on financial need as determined by FAFSA results. The interest rate is 5%. Repayment and interest accrual begins nine months after the student ceases to be enrolled at least half-time.
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Private Loans
Private student loans should be considered “last resort” opportunities. You should utilize all other financing options before applying for a private product. Remember, federal student loan programs are less expensive than private loans and should be considered first. Private loan interest typically begins accruing immediately and fluctuates with market rates. Undergraduate private loan borrowers will be required to have a cosigner.
The lender, not Bradley, determines eligibility for a private loan. However, the university is required to certify your enrollment and calculate the amount you can borrow. Total loan amount is limited to the cost of attendance minus financial assistance. Proceeds from these loans are disbursed through Bradley.
The university does not endorse or recommend any specific private loan products.