SPU Institutional Loan Program

Lender: Seattle Pacific University
Initial eligibility application: Free Application for Federal Student Aid (FAFSA)
Eligibility requirements: Demonstration of financial need, enrolled at least half time (6 credits Undergraduate / 3 credits Graduate), making satisfactory academic progress

Origination fee: 5%
Interest rate: 5%
Interest accrual/repayment: begins 6 months after ceasing at least half time enrollment at SPU.
Repayment period: 10 years.
Minimum Monthly Payment: $50

Students receiving an SPU Institutional Loan will be notified via their SPU email regarding paperwork required for the loan in July.