Loans
The following loans are available to students to help meet their financial need. These must be repaid according to a monthly schedule after graduation or within 60 days of disbursement.
William D. Ford Direct Loan Program
Attention All Loan Borrowers:
Due to new Federal guidelines, Trinity International University will be changing loan programs starting with the 2010-2011 school year.Up to this point, TIU has been participating in the Federal Family Education Loan (FFEL) Program in which our students chose a lender to fund their Stafford Loans. The new program TIU will be utilizing for all students starting with the Fall 2010 semester is called the William D Ford Direct Loan Program. This program allows students to borrow loan funds directly from the Federal Government. Please click here for more information: Direct Loan Program Information.
Federal Perkins Loan
The Federal Carl D. Perkins Loan is a low-interest loan that students take out on their own behalf. The FAFSA must be completed in order to be eligible. The interest rate is fixed at 5 percent. Trinity determines eligibility. Repayment begins 9 months after graduation or if the student drops below part time.
The Federal Government requires all new, first-time loan borrowers to complete Loan Entrance counseling. If you receive this loan you must complete online Perkins Entrance Counseling. Please click here to complete your entrance counseling.
Direct PLUS Loan
The Direct PLUS (Parental Loan to Undergraduate Students) loan is a low-interest loan that parents take out on the student's behalf. The FAFSA must be completed in order to be eligible. The interest rate is fixed at 8.5%. Repayment begins within 60 days after the loan is disbursed. Click here for more information: Direct PLUS Loan Program Information..
Alternative/Private Education Loans
This is a variable rate loan that students take out on their own behalf. This loan requires a credit check and generally, a cosigner. Interest rates vary depending on the lender. Please note that an alternative loan should be considered a loan of last resort. You may qualify for Title IV loans (Perkins loans, William D. Ford Direct or Direct Plus) and should first explore these options before seeking an alternative/private education loan. For more information, click here: Alternative Loans.
In-School Loan Consolidation
For a limited time, many students are eligible to consolidate student loans while in school instead of waiting until they leave school. Please click on these links for more information about in-school loan consolidation and loan consolidation in general: https://www.mygreatlakes.org/borrower/login/borrower/inschool_consolidation.html and http://loanconsolidation.ed.gov/
