Graduate Loans


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To be eligible students must complete a FAFSA, be admitted to a degree program, and must be enrolled at least half-time. 

Federal Direct Loan

The Unsubsidized Direct Loan is awarded to graduate students up to $20,500 per year and interest accrues while enrolled at least half time. Please see items to complete to fund these loans here under heading 'Graduate Direct Loan'

Teaching Credential Only

The Subsidized Direct Loan is awarded on the basis of financial need up to $5,500 per year for teaching credential students and are interest free while enrolled at least half time. Independent teaching credential students may borrow up to additional $7,500 in Unsubsidized Direct Loan that accrues interest while enrolled at least half time.

Graduate PLUS Loan

The Graduate PLUS Loan is available to all eligible students enrolled at least half-time in a graduate degree program; need to apply for PLUS Loan and meet federal credit eligibility requirements. Eligible graduate students can borrow up to Cost Of Attendance (COA) in the PLUS Loan after other eligible aid. To apply go here and complete items under heading 'Graduate Plus Loan' 

Private/Alternative Education Loans

Private/Alternative Education loans are another option to help bridge the gap between the actual cost of your education and the federal student loans. These loans are offered by private lenders and eligibility primarily depends on the borrower's credit score and income to debt ratio. To review go to > type in 'Saint Mary's College of California' > select 'graduate' or 'MBA'. Compare lenders and review terms, if decide to apply can choose any participating lender and typically recieve an immediate decision.

Students considering private loans need to be aware of the differences between federal student loans and private student loans. Private loans may carry higher interest rates and fees than federal loans. Private loans can offer variable interest rates that can increase or decrease over time, depending on market conditions. private loan interest rate typically depends on the borrower's and/or co-signer's credit score and income to debt ratio. Students should confirm interest rate and any associated fees before accepting private loans.

In comparison, federal Direct Loans are required by law to provide a range of flexible repayment options including income-based and income-contingent repayment plans as well as potential loan forgiveness benefits that private lenders are not required to provide. Federal Direct Loans are available to most students regardless of income.

Calculating Repayment

To assist you in calculating an estimated loan payment visit the to view your loan history. After retrieving your total outstanding loans go to Federal Student Aid and calculate your estimated repayment.