Graduate Student Loans
Student loans can help cover educational expenses not met by scholarships, grants, or other financial aid. As a Simmons graduate student, you may have access to federal and private loan options, each with different eligibility requirements, borrowing limits, and repayment terms.
This overview of your loan options can help you decide where to find the information most relevant to your situation.
Understanding Your Loan Options
Federal Loan Updates & Important Changes
Federal loan programs and eligibility requirements may change based on federal legislation or Department of Education guidance. We encourage you to review current updates frequently.
Federal Loans
Federal student loans are funded by the U.S. Department of Education and typically offer:
- Fixed interest rates
- Flexible repayment options
- Protections such as deferment, forbearance, and income-driven repayment plans
Federal loans are often the first option students consider when borrowing.
Private Education Loans
Private loans:
- Are credit-based
- May require a co-signer
- Have terms that vary by lender
Careful comparison of interest rates, fees, and repayment options is important when considering private loans.
Learn more about Private Loans
Borrowing Wisely & Managing Credit
Understanding credit and loan terms is an important part of borrowing responsibly. We encourage you to explore resources on:
- Building and maintaining credit
- Checking your credit report
- Comparing loan options before borrowing
Need help deciding?
Our Financial Aid team is here to help you understand your options and make informed decisions about borrowing.
Office of Student Financial Services
Student Financial Services is here to assist students and families with managing the cost of higher education and questions about financing your education at Simmons.