Information on Loans

Loans are available through various federal programs that help make them more borrower-friendly. Loans are also available through private sources. Look through the whole list to see which may be best for you.

Federal Loans

These allow you to borrow money for education at a low interest rate. You must repay your loans, with interest.

Federal Direct Loans, Subsidized and Unsubsidized

Eligibility: Must File FAFSA. Need-based.


  • Freshman: up to $5500
  • Sophomore: up to $6500
  • Junior: up to $7500
  • Senior: up to $7500
  • Graduate: up to $20,500 (all Unsubsidized) Not to exceed budget
    For more information: Go to This site will help answer most questions.

What’s the difference between a subsidized and an unsubsidized loan? Find out here.

Important Federal Direct Loan Information

Be sure to complete your Federal Direct Loan Master Promissory Note and Entrance Counseling Form at

The Authorization to Use Title IV Funds form is now completed online prior to accepting your aid on the Port.

Parents PLUS Loan

Eligibility: Must File FAFSA. Non-need-based.

Amount: Up to total cost of attendance.

Comments: For more information go to

Private Loans

Our Financial Aid Office will work with any lender and servicing agency to process a private education loan for our students. Please be advised that these loans may be more expensive than federal loans. The terms and conditions of private loans vary from lender to lender and we encourage all borrowers to review and evaluate each program.

To ensure timely processing of your loan, please monitor your application once submitted. Each lender’s process may vary, but each step must be completed before a disbursement is made to Franciscan University.

We Recommend

FAST Choice from Great Lakes Educational Loan Services, Inc., has a private education loan selection tools that provide basic information on private loans and detailed listings of the various interest rates, borrower benefits, fees and repayment options, allowing you to accurately compare rates and terms side-by-side. We strongly suggest looking at all of your options before making a final selection