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Loan Programs

Below is brief comparison of the types of student loan programs available to graduate students. 

Federal Direct Unsubsidized

Loan Terms

  • Fixed interest rate of 4.30% (As of 07/01/20)
  • Origination fee of 1.062%
  • 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 $20,500

Application Requirements

Sample Repayment Schedule

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.
Federal Graduate PLUS Loan

Loan Terms

  • Fixed interest rate of 5.30% (As of 07/01/20)
  • Origination fee of 4.248%
  • 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 the cost of attendance minus other financial aid (individual eligible amounts will be listed on the award letter).

Application Requirements

Sample Repayment Schedule

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.
Bar Study Loan

Lenders

Students are responsible for searching for and choosing a lender for the bar study loan.

Loan Terms

Varies based on lender and creditworthiness of borrower and co-signer (if required).

Yearly Amounts

Varies based on lender.

Application Requirements

  • Third year law student or recent graduate
  • Pass credit check
  • Complete paperwork as required by the lender

(Please note that these funds are disbursed directly to the student, unlike the federal loans.)

Willamette University

Office of Financial Aid

Address
1st Floor Waller Hall
Willamette University
900 State Street
Salem Oregon 97301 U.S.A.
Phone
503-370-6273 voice
877-744-3736 toll free
Email
finaid@willamette.edu

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