SPU Institutional Loan Program
This program, sponsored by SPU, was created to provide assistance to needy students. SPU Institutional Loans carry a simple interest rate of 5 percent and are repayable over a period of 10 years following graduation or dropping below a half-time credit load, or withdrawing from school. There is also a 5 percent origination fee associated with this loan that is deducted once the loan has paid onto the student account. No interest is charged while students are enrolled at least half-time at SPU and during a six-month grace period thereafter.