Student Loans


The government will pay the loan interest during in-school enrollment periods and grace period for the subsidized loan(s). Qualifying for the subsidized loan is determined from the FAFSA.

Interest Rates & Processing Fees:

  • 4.45% (fixed) interest rate for undergraduate loans disbursed between July 1, 2017 and June 30, 2018
  • 1.069% of the amount borrowed is assessed as a processing fee by the federal government for loans disbursed between October 1, 2016 and September 30, 2017
  • 1.066% of the amount borrowed is assessed as a processing fee by the federal government for loans disbursed between October 1, 2017 and September 30, 2018

To complete additional requirements to receive your Federal Subsidized Loan, please click here

The borrower is responsible for paying all of the interest from the time the loan is disbursed for the unsubsidized loan(s). Paying the interest on this loan while in school will reduce the compounded interest charged over the life of the loan. Borrowers should update all their demographic information as it changes in order to receive important information regarding their loans.

Interest Rates & Processing Fees:

  • 4.45% (fixed) interest rate for undergraduate loans disbursed between July 1, 2017 and June 30, 2018
  • 6.00% (fixed) interest rate for graduate loans disbursed between July 1, 2017 and June 30, 2018
  • 1.069% of the amount borrowed is assessed as a processing fee by the federal government for loans disbursed between October 1, 2016 and September 30, 2017
  • 1.066% of the amount borrowed is assessed as a processing fee by the federal government for loans disbursed between October 1, 2017 and September 30, 2018

To complete additional requirements to receive your Federal Unsubsidized Loan, please click here

The Federal Graduate PLUS loan program is a credit-based loan for student's working on a master's or doctorate program. Students must have applied and utilized their federal loan eligibility first before applying for additional funds.

Interest Rates & Processing Fees:

  • 7.00% (fixed) interest rate for loans disbursed between July 1, 2017 and June 30, 2018
  • 4.276% of the amount borrowed is assessed as a processing fee by the federal government for loans disbursed between October 1, 2016 and September 30, 2017
  • 4.264% of the amount borrowed is assessed as a processing fee by the federal government for loans disbursed between October 1, 2017 and September 30, 2018

Alternative loans are non-federal loans used to supplement financial aid for credit worthy students and their families.

Interest Rates & Processing Fees:

  • Variable based on the credit worthiness of the borrower and cosigner

The Federal Perkins Loan is a long-term, low-interest federal loan program. Eligibility for the loan and the actual amount awarded are determined by the Office of Financial Aid & Scholarships. You must show financial need to be eligible to receive funds under this program. Freshman students are given priority in the awarding of Perkins Loan since they are limited in the amount they may borrow under the Direct Loan program.

Interest Rates & Processing Fees:

  • 5% (fixed) interest rate
  • No processing fee is assessed

To complete additional requirements to receive your Federal Perkins Loan, please click here

The Federal Nursing Student Loan is a low-interest federal loan. This loan is to assist with educational expenses for undergraduate and graduate students who are admitted to the College of Nursing. You must show financial need to be eligible to receive funds under this program. Grand Valley State University is the lender for Federal Nursing Loan funds.

Interest Rates & Processing Fees:

  • 5% (fixed) interest rate
  • No processing fee is assessed

To complete additional requirements to receive your Federal Nursing Loan, please click here



Page last modified February 9, 2016