Supplemental Loans
Grad PLUS Loans
Beginning this summer American University and The Washington College of Law will participate exclusively in the William D. Ford Federal Direct Loan Program (DL). This means that all federal loans for WCL students will be obtained directly from the Department of Education. Apply for Direct Grad PLUS Loans at the financial aid office (Application). For students, this change provides continued access to funds and a faster, cleaner process, as well as delivering less expensive loans. Grad PLUS borrowers – including continuing students – will need to complete a new Direct Loan Master Promissory Note (MPN).
Private Loans
Grad PLUS may not meet the needs of all. If you can not or choose not to borrow a DL Grad PLUS loan, some lenders may provide alternative (private) loan assistance. With recent changes in the loan industry – particularly for private loans – it is essential that you review lender sites to determine loan availability and benefits. For private loan assistance, apply directly at the lender’s website. To our present knowledge only four lenders currently offer private education loans, they are:
| Chase Select Private Student Loans | http://www.chaseselectloans.com |
| Citibank CitiAssist Law Loans | http://www.studentloan.com |
| Sallie Mae LawLoans Private | http://www.salliemae.com |
| SunTrust Academic Answer Loan | http://www.suntrusteducation.com |
Students who borrow outside the DL process may experience delays in refunds as the processing will take additional time. Please allow a minimum of four weeks processing time when applying for loans outside of the AU and WCL process.
NOTE: Citibank and Sallie Mae have applications specifically for WCL students.
Additional Information:
International students with a qualified co-borrower may borrow from lenders that have programs for international students.
- Advisory – Choose your lender carefully. Certification of eligibility is limited to one lender per loan period.
- Application Deadline - June 1 for incoming students; July 1 for continuing students. On time filing ensures priority processing and timely receipt of funds.
- Late FILING – Delays funds. Applications are certified in the order received as released for processing by the lender.
- Important Disbursement Notice – DL Stafford and Grad PLUS Loan proceeds are posted directly to your student account. Refunds are issued by the Office of Student Accounts (OSA). A request must be submitted to initiate a refund. Requests are submitted through the my.american.edu portal.