Student loans can provide you with additional funds to help pay for your education at Saint Louis University. The federal government sponsors a variety of student loan programs, but private financing is also available. To be eligible for federal student loans, you’ll need to complete the Free Application for Federal Student Aid (FAFSA).
After you’ve been accepted to SLU and filled out your FAFSA, you’ll receive a financial aid award that details the federal student loans for which you are eligible. To accept or decline your student loans, log in to Banner Self-Service using your MySLU account information and click on the “Financial Aid” tab. You’ll also be required to complete and sign a formal agreement to repay your loan known as a Master Promissory Note.
You may qualify for a low-interest loan through the federal Perkins loan program if you are an undergraduate or graduate student with exceptional financial need. Perkins loans are similar to other federal student loans, except they have a longer grace period and no fees.
To qualify for a Perkins loan at SLU, you must:
Accepting a Perkins Loan
For any additional questions, please contact the SLU Perkins Loan department at firstname.lastname@example.org or 314-977-2407.
The Direct PLUS Loan program is another borrowing option for parents of dependent undergraduate students that can help pay for education expenses not covered by other financial aid.
A credit check, performed by the U.S. Department of Education at the time of application, is required to determine eligibility for PLUS loans. The maximum loan amount is the cost of attendance (as determined by SLU) minus any other financial assistance that you’ve received, but you should be careful not to borrow more than you can afford to repay. If you have any questions about determining the right amount for your situation, contact a financial aid counselor.
What Happens if My Federal PLUS Loan is Denied?
There are still options to help pay for your education if you are not eligible for a PLUS loan. If you are denied, SLU’s Office of Student financial Services may offer you a federal Direct Unsubsidized loan ($4,000 for freshman and sophomores; $5,000 for juniors and seniors).
Exploring loans from a private lender is another option. However, since these loans often have variable, uncapped interest rates, we encourage you to exhaust federal loan programs first.
The federal Direct Unsubsidized loan and the Direct PLUS loan programs are available to graduate student borrowers. Similar to the process for undergraduate students, you will need to file a FAFSA to receive an offer of financial aid, which you accept or decline through Banner Self-Service.
You can borrow up to $20,500 through the Direct Unsubsidized loan program, and it should be the first borrowing option you consider. Any unmet costs can be met by a Direct PLUS loan, which will allow you to borrow up to the cost of attendance (minus all other financial aid you’ve received).
A private loan is an educational loan for credit worthy borrowers (student, parent, or other) which is offered by banks and other organizations. These loans are not federally funded through the Federal Direct Loan Program. The interest rates and terms vary by lender and are usually tied to the prime rate or LIBOR index.
Private loans are credit-based loans and in most cases, a creditworthy cosigner is required. Be sure to follow each step of your lender's process when applying for a private student loan. Should you need assistance, contact your lender as they will walk you through their process and update you on the status of your loan.
|Lender||Application Disclosure Statement|
|Affinity Federal Credit Union||Application Disclosure|
|Anheuser-Busch Employees CU/American Eagle Div||N/A2|
|Baxter Credit Union PEL||N/A2|
|Chase Select Undergrad Alt Loan||No Longer Offering Student Loans|
|Citizens Bank||Application Disclosure|
|College Ave||Application Disclosure|
|Commerce Bank||Undergrad Disclosure ; Grad Disclosure|
|Digital Federal Credit Union||N/A2|
|Discover Student Loans||Application Disclosure|
|Eli Lilly Federal Credit Union||N/A2|
|Fifth/Third Bank||No Longer Offering Student Loans|
|Fort Morgan State Bank||Application Disclosure|
|Fynanz||No Longer Offering Student Loans|
|IH Mississippi Valley Credit Union||N/A2|
|Iowa Student Loan||Application Disclosure|
|KEMBA Credit Union||N/A2|
|KY Advantage Parent Loan||No Longer Offering Student Loans|
|Landmark Credit Union||N/A2|
|Liberty Bank||No Longer Offering Student Loans|
|MEFA||Undergrad Disclosure ; Grad Disclosure|
|Minnesota Office of Higher Education||Application Disclosure|
|Missouri Scholarship & Loan Foundation (MOFELP)||Application Disclosure|
|NASA Federal Credit Union||N/A2|
|Notre Dame Federal Credit Union||Application Disclosure|
|Ohio Catholic Federal Credit Union||N/A2|
|Ohio Educational Credit Union||N/A2|
|Old National Bank||Application Disclosure|
|PNC Bank - Educational Loan Center||Application Disclosure|
|Regions Bank||Application Disclosure|
|Rhode Island Student Loan Authority||Application Disclosure|
|Safe Credit Union||Application Disclosure|
|Sallie Mae||Application Disclosure|
|San Antonio Federal Credit Union||N/A2|
|Scott Credit Union||Application Disclosure|
|SunTrust Bank||Application Disclosure|
|Technology Credit Union||Application Disclosure|
|Thrivent Federal Credit Union||Application Disclosure|
|Union Federal Private Student Loan (funded by SunTrust)||Application Disclosure|
|University of Illinois Employee Credit Union||Application Disclosure|
|Wells Fargo||Application Disclosure|
|West Community Credit Union||N/A2|
SLU’s Student Loan Collections facilitates repayment, deferment, loan forgiveness and fulfills exit requirements on federal and institutional programs, such as the Federal Perkins, Nursing Student, Nursing Faculty and Primary Care loans, as well as loans for disadvantaged and institutional debt.
Office hours are 8 a.m. to 5 p.m. (Central time) Monday through Friday. For more information, contact Marguerite Kupferer at email@example.com or call 314-977-2404.
Visit uaservice.com to change your billing address, application of financial relief, employment benefits and student deferment when you continue your educational studies.
Contact University Accounting Services at 800-999-6227 or send forms and correspondence to:
University Accounting Service
PO Box 932
Brookfield, WI 53008-0932
If not using electronic payment portal, please send payments to:
University Accounting Service, LLC
PO Box 5865
Carol Stream, IL 60197-5865
Please make checks payable to Saint Louis University.
Saint Louis University achieves its mission of teaching, research and community service in a manner consistent with its Catholic, Jesuit mission and philosophy. All employees, including administrators, faculty and staff, are expected to conduct themselves in a manner which is also consistent with this mission and philosophy.
This policy establishes a code of conduct that reiterates and reflects Saint Louis University's continuing commitment to conducting financial aid practices with integrity, free from conflicts of interest, in the interest of students, and in compliance with applicable law.
This code of conduct applies to all employees, including administrators, faculty and staff, including, but not limited to, individuals who are employed in the Office of Student Financial Services or who otherwise have responsibilities with respect to educational loans.
For purposes of this policy, certain key terms are defined as follows:
Preferred Lender Arrangement: An arrangement or agreement between a lending institution and Saint Louis University
Revenue Sharing Arrangement: Any arrangement between Saint Louis University and a lending institution that results in the lending institution paying a fee or other benefits, including a share of the profits, to Saint Louis University, its officers, employees or agents as a result of Saint Louis University's recommending the lender to its students or the families of those students.