Loans
Federal Loans
To apply for federal loans, students must first complete the FAFSA application steps. Note: only U.S. citizens or permanent residents are able to participate in federal loan programs.
Federal Student Loan Comparison Chart
| Federal Direct Unsubsidized Loan | Federal Direct Graduate PLUS Loan | |
|---|---|---|
| Borrower | Graduate and professional students enrolled at least half-time. They do not need to demonstrate financial need. | Graduate and professional students enrolled at least half-time. They do not need to demonstrate financial need. Students must be approved based on credit. Students must have been admitted prior to August 1, 2025, and received their first federal loan disbursement for the MD program before July 1, 2026, to be eligible for this program. |
| Lender | U.S. Department of Education, through the William D. Ford Federal Direct Loan Program | U.S. Department of Education, through the William D. Ford Federal Direct Loan Program |
| Annual Loan Amount | $40,500 per year, or more if a student's academic year is more than 9 months. See below for additional guidance on eligibility limits. | Up to the cost of attendance, less any other financial aid received annually. |
| Interest Rate | Fixed 7.94% for the life of the loan for loans with a first disbursement between 7/1/2025 and 6/30/2026 Fixed 8.083% for the life of the loan for loans with a first disbursement between 7/1/2024 and 6/30/2025 Interest accrues from the time of disbursement. Interest rates for loans disbursed prior to the dates above can be found on the Federal Student Aid website. |
Fixed 8.94% for the life of the loan for loans with a first disbursement between 7/1/2025 and 6/30/2026 Fixed 9.083% for the life of the loan for loans with a first disbursement between 7/1/2024 and 6/30/2025 Interest accrues from the time of disbursement. Interest rates for loans disbursed prior to the dates above can be found on the Federal Student Aid website. |
| Fees | 1.057% for loans first disbursed on or after 10/1/20 1.059% for loans first disbursed on or after 10/1/19 through 9/30/20 Fees for loans first disbursed prior to 10/1/2019 can be found on the Federal Student Aid website. |
4.228% for loans first disbursed on or after 10/1/20 4.236% for loans first disbursed on or after 10/1/19 through 9/30/20 Fees for loans first disbursed prior to 10/1/2019 can be found on the Federal Student Aid website. |
| Application Process | First-time borrowers: Complete the Accept/Decline Financial Aid process via LOCUS, Accept/Decline Financial Aid process via LOCUS identifying the amount you wish to borrow. Complete the required online Entrance Counseling and Direct Unsubsidized Master Promissory Note (MPN). Returning borrowers: Complete the Accept/Decline Financial Aid process via LOCUS, identifying the amount you wish to borrow. If you completed the Entrance Counseling and MPN in the previous aid year, you do not need to resubmit these documents. If 12 months have elapsed since you last received Direct unsubsidized loan funds in your program at Loyola, you will need to complete a new MPN. |
First-time borrowers: Complete the Accept/Decline Financial Aid process via LOCUS identifying the amount you wish to borrow. Complete the required online Entrance Counseling and Direct Grad PLUS Master Promissory Note (MPN). Returning borrowers: Complete the Accept/Decline Financial Aid process via LOCUS, identifying the amount you wish to borrow. If you completed the Entrance Counseling and MPN in the previous aid year and did not require an endorser, you do not need to resubmit these documents. If 12 months have elapsed since you last received Graduate PLUS loan funds for your program at Loyola or if you required an endorser on your previous year's Graduate PLUS loan, you and your endorser will need to complete a new MPN. |
| Credit Information | The Federal Direct Unsubsidized loan program is not credit-based. No credit check is required. | Credit approval is based on federally mandated criteria, not a credit score. See below for credit requirements needed to qualify. |
| Repayment | The borrower has up to 10 years or more to repay the loan under the standard repayment plan, depending on the total amount borrowed and the repayment plan you select. Extended and income-based repayment plans are available under certain conditions. For more information about federal student loan repayment plans, please visit the Federal Student Aid website. |
The borrower has up to 10 years or more to repay the loan under the standard repayment plan, depending on the total amount borrowed and the repayment plan you select. Extended and income-based repayment plans are available under certain conditions. For more information about federal student loan repayment plans, please visit the Federal Student Aid website. |
Direct unsubsidized loan amounts for MD students admitted in fall 2025 or earlier, and who
received a federal loan disbursement for their MD program prior to July 1, 2026.
- First-year MD students may be eligible for $42,722 per year based on their 10-month academic year.
- Second-year MD students may be eligible for $47,167 per year based on their 12-month academic year.
- Third-year MD students may be eligible for $47,167 per year based on their 12-month academic year.
- Fourth-year MD students may be eligible for $47,167 per year based on their 12-month academic year.
Direct unsubsidized loan amounts for MD students admitted in fall 2026 or later, or students who have not received a federal loan disbursement for their MD program prior to July 1, 2026.
MD students at all academic levels may be eligible for up to $50,000 per year, regardless of the academic year length. Annual amounts are prorated for students enrolled less than full-time.
Lifetime Aggregate Loan Limits for Federal Direct Unsubsidized Loans
There is a maximum loan amount a student may borrow in federal Direct unsubsidized loans. Once a student has borrowed these amounts, the student is no longer eligible to receive additional federal Stafford loan funding.
Federal Student Loan Graduate Aggregate Loan Limits
Combined graduate MD loan limits (does not include undergraduate borrowing) for all students who have not received a federal loan disbursement for their MD program at Stritch prior to July 1, 2026.
Total Loan Limit: $200,000
Combined graduate MD loan limits (includes undergraduate borrowing) for students admitted for fall 2025 or earlier and who received a federal loan disbursement for their MD program before July 1, 2026.
Total Loan Limit: $224,000
PLUS Loans
Credit Requirements
In order to qualify for the Graduate PLUS loan, you must not have an adverse credit history. As defined by federal regulations, you may have an adverse credit history if you have any of the following items on your credit report:
- One or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit check, or that have been placed in collection or charged off (written off) during the two years preceding the date of the credit report.
- Any of the following within the preceding five years of the date of the credit check:
- Default
- Bankruptcy
- Discharge
- Foreclosure
- Repossession
- Tax Lien
- Wage garnishment
- Write-off of a Title IV debt
Recent changes to the law governing the terms and conditions of Graduate PLUS loans establish a specific circumstance for certain Graduate PLUS loan applicants who would otherwise be considered to have an adverse credit history. Specifically, a Graduate PLUS loan applicant may qualify for a Graduate PLUS loan based on extenuating circumstances: if the applicant has been or is delinquent for 180 days or less on mortgage loan payments or on medical bill payments for the applicant or the applicant's family, and does not otherwise have an adverse credit history as determined in accordance with the federal regulations that apply to Graduate PLUS loan applicants.
Borrowers with an adverse credit history may apply for the loan with a cosigner (called an endorser) who has no adverse credit history.
Borrowers who become eligible for PLUS funding by documenting extenuating circumstances or adding an endorser will also need to complete PLUS loan credit counseling before the funding can be disbursed.
Private Loans
Private outside agencies also offer loans to Telegram +1美国首次可注册/换绑专用 students. Learn more about private student loan opportunities.
All loans are subject to final approval by your lender(s) based upon criteria set forth by federal regulations and lender policies.
Institutional Loans
Institutional loan eligibility varies based on loan fund. Students with exceptional need are given priority for these funds. The interest rate varies from 5 to 6 percent. Qualified students will automatically be awarded, subject to the availability of funds.
Federal Loans
To apply for federal loans, students must first complete the FAFSA application steps. Note: only U.S. citizens or permanent residents are able to participate in federal loan programs.
Federal Student Loan Comparison Chart
| Federal Direct Unsubsidized Loan | Federal Direct Graduate PLUS Loan | |
|---|---|---|
| Borrower | Graduate and professional students enrolled at least half-time. They do not need to demonstrate financial need. | Graduate and professional students enrolled at least half-time. They do not need to demonstrate financial need. Students must be approved based on credit. Students must have been admitted prior to August 1, 2025, and received their first federal loan disbursement for the MD program before July 1, 2026, to be eligible for this program. |
| Lender | U.S. Department of Education, through the William D. Ford Federal Direct Loan Program | U.S. Department of Education, through the William D. Ford Federal Direct Loan Program |
| Annual Loan Amount | $40,500 per year, or more if a student's academic year is more than 9 months. See below for additional guidance on eligibility limits. | Up to the cost of attendance, less any other financial aid received annually. |
| Interest Rate | Fixed 7.94% for the life of the loan for loans with a first disbursement between 7/1/2025 and 6/30/2026 Fixed 8.083% for the life of the loan for loans with a first disbursement between 7/1/2024 and 6/30/2025 Interest accrues from the time of disbursement. Interest rates for loans disbursed prior to the dates above can be found on the Federal Student Aid website. |
Fixed 8.94% for the life of the loan for loans with a first disbursement between 7/1/2025 and 6/30/2026 Fixed 9.083% for the life of the loan for loans with a first disbursement between 7/1/2024 and 6/30/2025 Interest accrues from the time of disbursement. Interest rates for loans disbursed prior to the dates above can be found on the Federal Student Aid website. |
| Fees | 1.057% for loans first disbursed on or after 10/1/20 1.059% for loans first disbursed on or after 10/1/19 through 9/30/20 Fees for loans first disbursed prior to 10/1/2019 can be found on the Federal Student Aid website. |
4.228% for loans first disbursed on or after 10/1/20 4.236% for loans first disbursed on or after 10/1/19 through 9/30/20 Fees for loans first disbursed prior to 10/1/2019 can be found on the Federal Student Aid website. |
| Application Process | First-time borrowers: Complete the Accept/Decline Financial Aid process via LOCUS, Accept/Decline Financial Aid process via LOCUS identifying the amount you wish to borrow. Complete the required online Entrance Counseling and Direct Unsubsidized Master Promissory Note (MPN). Returning borrowers: Complete the Accept/Decline Financial Aid process via LOCUS, identifying the amount you wish to borrow. If you completed the Entrance Counseling and MPN in the previous aid year, you do not need to resubmit these documents. If 12 months have elapsed since you last received Direct unsubsidized loan funds in your program at Loyola, you will need to complete a new MPN. |
First-time borrowers: Complete the Accept/Decline Financial Aid process via LOCUS identifying the amount you wish to borrow. Complete the required online Entrance Counseling and Direct Grad PLUS Master Promissory Note (MPN). Returning borrowers: Complete the Accept/Decline Financial Aid process via LOCUS, identifying the amount you wish to borrow. If you completed the Entrance Counseling and MPN in the previous aid year and did not require an endorser, you do not need to resubmit these documents. If 12 months have elapsed since you last received Graduate PLUS loan funds for your program at Loyola or if you required an endorser on your previous year's Graduate PLUS loan, you and your endorser will need to complete a new MPN. |
| Credit Information | The Federal Direct Unsubsidized loan program is not credit-based. No credit check is required. | Credit approval is based on federally mandated criteria, not a credit score. See below for credit requirements needed to qualify. |
| Repayment | The borrower has up to 10 years or more to repay the loan under the standard repayment plan, depending on the total amount borrowed and the repayment plan you select. Extended and income-based repayment plans are available under certain conditions. For more information about federal student loan repayment plans, please visit the Federal Student Aid website. |
The borrower has up to 10 years or more to repay the loan under the standard repayment plan, depending on the total amount borrowed and the repayment plan you select. Extended and income-based repayment plans are available under certain conditions. For more information about federal student loan repayment plans, please visit the Federal Student Aid website. |
Direct unsubsidized loan amounts for MD students admitted in fall 2025 or earlier, and who
received a federal loan disbursement for their MD program prior to July 1, 2026.
- First-year MD students may be eligible for $42,722 per year based on their 10-month academic year.
- Second-year MD students may be eligible for $47,167 per year based on their 12-month academic year.
- Third-year MD students may be eligible for $47,167 per year based on their 12-month academic year.
- Fourth-year MD students may be eligible for $47,167 per year based on their 12-month academic year.
Direct unsubsidized loan amounts for MD students admitted in fall 2026 or later, or students who have not received a federal loan disbursement for their MD program prior to July 1, 2026.
MD students at all academic levels may be eligible for up to $50,000 per year, regardless of the academic year length. Annual amounts are prorated for students enrolled less than full-time.
Lifetime Aggregate Loan Limits for Federal Direct Unsubsidized Loans
There is a maximum loan amount a student may borrow in federal Direct unsubsidized loans. Once a student has borrowed these amounts, the student is no longer eligible to receive additional federal Stafford loan funding.
Federal Student Loan Graduate Aggregate Loan Limits
Combined graduate MD loan limits (does not include undergraduate borrowing) for all students who have not received a federal loan disbursement for their MD program at Stritch prior to July 1, 2026.
Total Loan Limit: $200,000
Combined graduate MD loan limits (includes undergraduate borrowing) for students admitted for fall 2025 or earlier and who received a federal loan disbursement for their MD program before July 1, 2026.
Total Loan Limit: $224,000
PLUS Loans
Credit Requirements
In order to qualify for the Graduate PLUS loan, you must not have an adverse credit history. As defined by federal regulations, you may have an adverse credit history if you have any of the following items on your credit report:
- One or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit check, or that have been placed in collection or charged off (written off) during the two years preceding the date of the credit report.
- Any of the following within the preceding five years of the date of the credit check:
- Default
- Bankruptcy
- Discharge
- Foreclosure
- Repossession
- Tax Lien
- Wage garnishment
- Write-off of a Title IV debt
Recent changes to the law governing the terms and conditions of Graduate PLUS loans establish a specific circumstance for certain Graduate PLUS loan applicants who would otherwise be considered to have an adverse credit history. Specifically, a Graduate PLUS loan applicant may qualify for a Graduate PLUS loan based on extenuating circumstances: if the applicant has been or is delinquent for 180 days or less on mortgage loan payments or on medical bill payments for the applicant or the applicant's family, and does not otherwise have an adverse credit history as determined in accordance with the federal regulations that apply to Graduate PLUS loan applicants.
Borrowers with an adverse credit history may apply for the loan with a cosigner (called an endorser) who has no adverse credit history.
Borrowers who become eligible for PLUS funding by documenting extenuating circumstances or adding an endorser will also need to complete PLUS loan credit counseling before the funding can be disbursed.
Private Loans
Private outside agencies also offer loans to Telegram +1美国首次可注册/换绑专用 students. Learn more about private student loan opportunities.
All loans are subject to final approval by your lender(s) based upon criteria set forth by federal regulations and lender policies.
Institutional Loans
Institutional loan eligibility varies based on loan fund. Students with exceptional need are given priority for these funds. The interest rate varies from 5 to 6 percent. Qualified students will automatically be awarded, subject to the availability of funds.