Supplemental Loans
Grad PLUS Loans
Effective the 2009/2010 award year, American University Washington College of Law participates exclusively in the William D. Ford Federal Direct Loan Program (DL). This means that all federal loans for WCL students are obtained directly from the Department of Education. New procedures apply. A WCL Grad PLUS application must be filed. The form is online at: http://www.wcl.american.edu/finaid/2009/09direct_grad_app.pdf?rd=1. Prior year Grad PLUS borrowers must also complete a new Direct Loan Master Promissory Note (MPN). Note: Students who borrow Grad PLUS funds outside the university DL process may experience delays in receiving funds as processing will take longer. Allow a minimum of four weeks for funds to arrive.
Private Loans
Grad Plus may not meet the needs of all. If you cannot or choose not to borrow a DL Grad PLUS loan, private loan funding may be an option. A limited number of lenders continue to offer alternative (private) loan assistance. Because of ongoing uncertainty in the student loan market it is essential that you review lender sites to determine loan availability and benefits. Application is made on the lender’s website. Lenders currently known to offer private education loans are:
| Chase Select Private Student Loans | http://www.chaseselectloans.com |
| Citibank CitiAssist Law Loans | http://www.studentloan.com |
| Sallie Mae Smart Option Student Loan | http://www.salliemae.com |
| SunTrust Academic Answer Loan | http://www.suntrusteducation.com |
Additional Information:
International Students – Loans are available through a limited number of lenders with programs for international students. A qualified co-borrower is required.
- 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.