Undergraduate Loans

Loan Terms

• Fixed interest rate of 6.53% (As of 07/01/24)
• Origination fee of 1.057%
• Interest begins accruing as soon as repayment begins
• Repayment will begin 6 months after you graduate, withdraw, or are enrolled less than half-time
• 10 year repayment period

Yearly Amounts

Up to $5,500, determined by year in program and need as determined by the FAFSA

Application Requirements

• Valid FAFSA filed and available to Willamette
• Master promissory note (MPN)
• Entrance counseling

Sample Repayment Schedule

Loan Terms

• Undergraduate fixed interest rate of 6.53% (As of 07/01/24)
• Origination fee of 1.057%
• Interest begins accruing as soon as funds are disbursed
• Repayment will begin 6 months after you graduate, withdraw, or are enrolled less than half-time
• 10 year repayment period

Yearly Amounts

• Up to $7,500, determined by year in program and amount of subsidized direct loan awarded, if any.

Application Requirements

• Valid FAFSA filed and available to Willamette
• Master promissory note (MPN)
• Entrance counseling

Sample Repayment Schedule

Loan Terms

• Fixed interest rate of 9.08% (As of 07/01/24)
• Origination fee of 4.228%
• Interest begins accruing as soon as funds are disbursed
• Repayment will be scheduled for 60 days after the loan is fully disbursed, but can be deferred until after the student graduates, withdraws, or is enrolled less than half-time
• 10 year repayment period

PLUS loans enable parents with good credit histories to borrow to pay the educational expenses of their dependent children. Generally, repayment begins 60 days after the loan is fully disbursed, unless deferred.

Yearly Amounts

Up to the student's cost of education, less any other financial aid received.

Application Requirements

• Valid FAFSA filed and available to Willamette
• Parent PLUS Application
• Master promissory note (MPN)
• Entrance counseling

Sample Repayment Schedule

Loans must be repaid under the terms and conditions described for each program.

When you graduate, withdraw, or are enrolled less than half-time you are required to complete exit counseling.  This counseling will review loan repayment terms and conditions among other loan repayment topics.  You can complete loan exit counseling for Federal Direct Loans at studentaid.gov and at ECSI for the Perkins Loan.