Below is list of federal loan programs available to undergraduate students.
The loan funds listed here all require that the student file the Free Application for Federal Student Aid (FAFSA) each year.
If you are attending two institutions of higher education simultaneously (even if attendance only overlaps 1 day), this will impact your federal student aid eligibility at both schools, and you must notify the Financial Aid Office immediately.
Loan eligibility is renewable provided that the student continues to meet Financial Aid SAP requirements, has not borrowed the aggregate maximum set by the federal government, and has not completed the graduation requirements for their degree program.
Up to $5,500, determined by year in program and need as determined by the FAFSA
| Total Debt at Repayment* | Monthly Payment Amount | Total Amount Paid | Total Interest Paid |
| $5,000 | $50 | $6,005 | $1,007 |
| $10,000 | $100 | $12,013 | $2,013 |
| $15,000 | $150 | $18,020 | $3,020 |
| $20,000 | $200 | $24,026 | $4,026 |
| $25,000 | $250 | $30,033 | $5,033 |
| $30,000 | $300 | $36,039 | $6,039 |
| $35,000 | $350 | $42,046 | $7,046 |
| $40,000 | $400 | $48,052 | $8,052 |
| $45,000 | $450 | $54,059 | $9,059 |
| $50,000 | $501 | $60,065 | $10,065 |
| *Payment calculated using a fixed interest rate of 3.76% over a 10 year period. | |||
| Total Debt at Repayment* | Monthly Payment Amount | Total Amount Paid | Total Interest Paid |
| $5,000 | $50 | $6,005 | $1,007 |
| $10,000 | $100 | $12,013 | $2,013 |
| $15,000 | $150 | $18,020 | $3,020 |
| $20,000 | $200 | $24,026 | $4,026 |
| $25,000 | $250 | $30,033 | $5,033 |
| $30,000 | $300 | $36,039 | $6,039 |
| $35,000 | $350 | $42,046 | $7,046 |
| $40,000 | $400 | $48,052 | $8,052 |
| $45,000 | $450 | $54,059 | $9,059 |
| $50,000 | $501 | $60,065 | $10,065 |
| *Payment calculated using a fixed interest rate of 3.76% over a 10 year 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.
Up to the student's cost of education, less any other financial aid received.
| Total Debt at Repayment* | Monthly Payment Amount | Total Amount Paid | Total Interest Paid |
| $5,000 | $56 | $6,755 | $1,755 |
| $10,000 | $112 | $13,510 | $3,510 |
| $15,000 | $168 | $20,265 | $5,265 |
| $20,000 | $225 | $27,020 | $7,020 |
| $25,000 | $281 | $33,775 | $8,775 |
| $30,000 | $337 | $40,530 | $10,530 |
| $35,000 | $394 | $47,285 | $12,285 |
| $40,000 | $450 | $54,040 | $14,040 |
| $45,000 | $506 | $60,795 | $15,795 |
| $50,000 | $563 | $67,550 | $17,550 |
| *Payment calculated using a fixed interest rate of 6.31% over a 10 year period. | |||
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.
Willamette University