Saint Louis University participates in the William D. Ford Direct Loan Program. Under Direct Loan, loan funds are provided Stafford loans through the U.S. Department of Education's educational loan program.
Stafford loans are available to students who are or will be enrolled at least half-time at an accredited school. Students must apply for these loans by submitting the Free Application for Federal Student Aid (FAFSA) each year. Saint Louis University’s federal school code is 002506.
Once Saint Louis University receives FAFSA information, award letters are sent out to students in March/April for the upcoming academic year. If the student chooses to borrow through the federal Stafford Loan Program, they must complete a Stafford loan Master Promissory Note on the Direct Loan website.
Federal Stafford Loan
Eligibility: U.S. Citizen, eligible non-citizen. Students with an F1 or F2 student visa or a J1 or J2 exchange visitor visa or a G series visa are NOT eligible for federal aid.
Amounts: Up to $20,500 per academic year
Interest Rate: 6.8% fixed
Repayment: Up to 25 years, depending on the total amount borrowed