Educational loans provide funds for your educational, living and personal expenses while completing an MBA program.

Loans make it possible to invest in a future of expanded career opportunities, career satisfaction and increased earning power.

Loans are the most common source of financial assistance for MBA students throughout the U.S.


Direct Unsubsidized Loan

The Direct Unsubsidized Loan is a U.S. federal loan that provides up to $20,500 per academic year to MBA students who are an eligible U.S. citizen or permanent resident.

Interested students must submit the FAFSA; Free Application for Federal Student Aid.

The interest rate for the Direct Unsubsidized Loan for graduate students is 5.8% (as of July 2021). The standard repayment period is 10 years, and can be extended to 20 or 30 years.

The Federal Student Aid website provides timely information about loan amounts and current interest rates for the Direct Unsubsidized Loan.


Direct Graduate Plus Loan

The Direct Graduate Plus Loan is a U.S. federal loan that provides funding in addition to the Direct Unsubsidized Loan to eligible MBA students who are a U.S citizen or permanent resident. Combining the Unsubsidized and PLUS loans allows MBA students to borrow up to the estimated cost of educational, living and personal expenses while an MBA student.

Interested students must submit the FAFSA; Free Application for Federal Student Aid.

The Direct Graduate Plus Loan is a credit-based loan. The repayment term is 10 years. The interest rate is 6.28% (as of July 2021). Special repayment benefits include the Income Based Repayment (IBR) and Public Service Loan Forgiveness (PSLF).


Private Credit-Based Loans for U.S. Students

Students may be eligible to borrow through private credit-based educational loan programs. Private loans generally require a cosigner. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate. Students should research lenders and the features of the loan programs before selecting their lender. Contact Shanan Woods at the Willamette University Financial Aid Office for more information.


Private Credit-Based Loans for International Students

International students may be eligible to borrow funds through private educational loan programs. Private loans generally require a cosigner who is a U.S. citizen or permanent resident. By applying with a creditworthy cosigner, you may improve your likelihood for loan approval and may receive a lower interest rate.

For more information, be sure to read GMAC’s mba.com article titled Your Guide to US Graduate Student Loans for International Students that describes what international students need to know about loans and loan programs. Another great source of information for loans and information about loans for international students is Edupass Smart Student Guide for Studying in the USA.

International students who borrow through a private lender should follow the application process of the lender.


Willamette University financial aid personnel and the Willamette MBA admission staff are available to help you with your questions. Contact the MBAP admission office at mba-p@willamette.edu or (971) 717-7260

Willamette University

MBA for Professionals

Salem Campus

Address
900 State Street
Salem Oregon 97301 U.S.A.
Phone
971-717-7260

Portland Center

Address
200 SW Market Street, Suite 101
Portland Oregon 97201 U.S.A.
Phone
971-717-7260

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