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Graduate Financial Aid

»Loans For Graduate Students

On July 4, 2025, the One Big Beautiful Bill Act was signed into law. The act includes changes to the Federal Direct Loan Programs. Details of the changes are under review, and we will provide updates as more information becomes available from the U.S. Department of Education. Last updated 10/22/25
 
For many students, educational loans are necessary in order to help pay for tuition and other educational related expenses. They differ from grants and scholarships, in that they must be repaid to a lender.
 
Graduate students can borrow up to the Cost of Attendance minus any financial aid or other resources. Eligibility for different loan types varies, so it is important to explore all options to determine what options work best for you.
 

Federal Direct Student Loans

Chapman University participates in the Federal Direct Loan Program where funding comes directly from the Federal Government. Federal loans provide the option to cover tuition and fees as well as living expenses associated with completing a graduate degree. 

Students must complete the FAFSA ,be a US citizen or eligible non-citizen, meet Satisfactory Academic Progress standards, be enrolled at least half-time, complete a Master Promissory Note for each loan type borrowed, and complete Loan Entrance Counseling.

Complete Your FAFSA
 
 

Federal Direct Unsubsidized Loan

Eligibility for this loan is changing due to the One Big Beautiful Bill Act. Students who have/or will have borrowed a federal student loan by July 1, 2025 in their current graduate program will be considered legacy borrowers and will have different annual and aggregate loan limits.
  • Annual limits for new borrowers: $20,500 for graduate programs, and $50,000 for professional programs (details of which programs qualify is still being determined).
  • Annual limits for legacy borrowers:$20,500, except for Pharm.D students who can receive up to $37,167 annually.
  • The maximum amount may be limited by the actual cost of attendance.
  • Borrower pays all interest, which begins accruing upon first disbursement.
  • The interest rate and origination fee information can be found here.

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Federal Direct Graduate PLUS Loan

Eligibility for this loan is being phased out. Students currently enrolled in their graduate program and students beginning enrollment in Spring 2025 and Spring 2025 will be allowed to borrow Grad PLUS for up to 3 years (or until the end of their program), provided they have or will have borrowed a federal student loan by July 1, 2025. Students starting their program in Fall 2026 or after will not have access to this loan program


  • Borrowers must meet credit requirements for this loan. Credit approval is based on federally mandated criteria, not a credit score. In order to qualify students must not have an adverse credit history.
  • The maximum amount is limited by the actual cost of attendance minus the combined amount of all other scholarships, grants, federal, and institutional aid.
  • There is no aggregate maximum on this loan.
  • Interest accrues while the student is in school and during grace periods and eligible deferment periods.
  • interest rate and origination fee information can be found here.

Federal Student Loan Repayment

For the Federal Direct Unsubsidized and the Graduate PLUS Loan, repayment starts 6 months after the student graduates, leaves school, or drops below half-time status. Students are required to complete Loan Exit Counseling.

The Department of Education uses servicers to manage federal student loans. Servicers will be assigned once funds start disbursing, and servicers will typically reach out to students to let them know that they will be servicing the loans. Students will contact their servicer to set up payments plans, make payments, and ask questions.

Students can find general information about how to repay federal loans at the Federal Student Aid website.

Students interested in loan forgiviness programs, including Public Service Loan Forgiviness, can find more information here.

Private Student Loans

Private student loans are credit-based loans made available by private lenders to eligible students. It is recommended that students investigate their federal loan options fully before considering private loans. International students may apply for private student loans, either with a lender that specifically lends to international students (limited), or they may need a U.S. cosigner. 


Choosing a private loan lender is an important decision. As a courtesy Chapman University has partnered with ELMSelect to provide you with a platform for reviewing private loan options. Chapman University has not paid for, nor do we receive any compensation for students utilizing these services. You are not required to use this service or only lenders provided by this service. If you have a lender who is not listed, you can apply directly with that lender and have them contact the Graduate Financial Aid Office to facilitate the certification process. We encourage you to always consider your federal loan options first and to contact the Graduate Financial Aid Office if you have any questions.

Once you indicate your program, you will be presented with a number of lenders with basic information. By clicking "View" you can learn more about the lender and what they offer and save lenders to compare. You can use the filters at the top of the page to sort the lenders in various ways.

Lenders listed in Chapman University’s ELMSelect Portal have all previously approved and disbursed loans to Chapman students in the last 3 academic years.

ELM Select Logo

 


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Things to Consider

When considering which lender to use, students should inquire about:

  • Are fees charged up front and upon repayment?
  • The interest rate: Is it variable? Is there a rate cap (maximum rate)?
  • Are there any repayment incentives?
  • Can principle and/or interest be deferred, and for how long?
  • How often is the interest capitalized?

Once a student has been approved for a private loan, the lender will communicate with Chapman University electronically. Students should allow 3-4 weeks for loan processing, certification, and disbursement of funds. Students should inform the Office of Graduate Financial Aid of their intent to borrow a private loan. 

Private student loans are counted as aid and are limited to no more than the Cost of Attendance minus other aid the student is receiving. Students who have borrowed their maximum awarded federal loans cannot use private loans to borrow additional funds.

Bar Study Loans for Law Students

Bar loans are designed to help Law students pay for Bar preparatory classes and living expenses while studying for the Bar Exam. Generally, these can be borrowed during the student’s final year of study or up to six months after graduation.

Students are encouraged to contact the Office of Graduate Financial Aid to find out if they have any remaining eligibility in their federal financial aid budget before applying for a Bar Exam Loan. Students should only borrow a Bar Exam Loan if all federal aid has been exhausted.

Bar Loans are private loans, so the interest rates and fees may be higher than those of a federal loan and they cannot be included in federal loan consolidation. The loan is credit-based and may require a cosigner.

Residency Loans for Health Professions

Residency and Relocation loans are designed to help students in certain health professions who will have costs associated with taking board examinations, traveling for interviews, and moving for a residency. Generally, these can be borrowed during the student’s final year of study or up to a year after graduation.

Students are encouraged to contact the Office of Graduate Financial Aid to find out if they have any remaining eligibility in their federal financial aid budget before applying for these loans. Students should only borrow a Residency and Relocation loan if all federal aid has been exhausted.

Residency and Relocation loans are private loans, so the interest rates and fees may be higher than those of a federal loan and they cannot be included in federal loan consolidation. The loan is credit-based and may require a cosigner.