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Student Financial Assistance

Graduate Student Loan Information


What is a student loan for a graduate student?

A student loan is a low-interest loan that a student obtains while enrolled in school.  Student loans must be repaid by the borrower, and the repayment period typically begins six months after the student graduates or ceases enrollment.  The Department of Student Financial Assistance advises all students to borrow only what is absolutely necessary to pay college expenses.

Loan limits reflect the gross amount a student is eligible to be awarded.  This gross amount is reduced by an origination fee charged by the Department of Education, resulting in the actual net amount received by the student.


Students may access the National Student Loan Database System (NSLDS) to check their total amount of loans borrowed.  An FSA ID is required to access such information (this is the same FSA ID used to submit the FAFSA). 


NEW!  Beginning July 1, 2012 Graduate students will only be eligible to receive Unsubsidized Stafford Loans.

Interest Rate: 6%

"Unsubsidized" means a student is responsible for paying the interest from the time the loan is disbursed.  While enrolled in school at least 1/2 time, a student can defer interest payments and capitalize the interest.

"Capitalization" is the process by which interest is added to the loan balance, increasing the loan's size and cost.  To reduce the cost of borrowing, consider making interest payments while in school.


What action must a graduate student take to receive a loan?

Independent graduate students have to complete the Free Application for Federal Student Aid (FAFSA) and meet other eligibility criteria (admittance into an eligible graduate degree program, maintaining Satisfactory Academic Progress, and enrollment of at least half-time).    

The student will be sent an Award Notification to their WKU Email Account (if registered) or to the email account on record with the university/reported on FAFSA (if not registered).  The Award Notification will provide the amount of loan eligible to borrow based on the student's cost of attendance.

Return to loans


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 Last Modified 5/11/17