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Student Loans

Learn about available loan options.


Is there a difference between Federal Student Loans and Private Educational Loans? What are the differences? Check out Federal Versus Private Loans.


​There are many loan options available, some of which are dependent upon your individual situation. Learn more here, with links to the Federal Student Aid pages for more information.

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 Federal Direct Student Loan

A Federal Direct Loan may be subsidized or unsubsidized depending on your financial need as determined by information on your FAFSA. The subsidized loan is available only to undergraduate students who demonstrate financial need as determined by information on your FAFSA.

For more information on the Federal Direct Loan program, please read Direct Loan Basics for Students.


Eligibility

As the borrower, you:

  • Must be enrolled at least half-time in an eligible undergraduate, graduate or professional degree or certificate program
  • Cannot be in default on any federal student loan or owe a refund on a federal student grant
  • Must have a valid social security number
  • Must be a U.S. citizen or eligible non-citizen (see studentaid.ed.gov's Student Aid Eligibility)
  • Must be registered with th​e Selective Service, if required (male students only). You can check requirements at SSS.gov
  • Continuing students must meet the CU Denver | Anschutz Satisfactory Academic Progress (SAP) standards
  • Must not have drug-related offenses

Features

  • Flexible repayment options
  • There are no pre-payment penalties
  • Can be consolidated with other federal loans
  • One loan servicer
  • The maximum loan amount is the cost of attendance (budget) minus any other financial aid received
  • Fixed interest rates
  • Origination Fee

  • Loan Limits

    Dependent Undergraduate Student ​Subsidized Limit ​Total Limit (includes Unsubsidized Loan)
    ​First Year (Freshman) ​up to $3,500 ​$5,500
    ​Second Year (Sophomore) ​up to $4,500 ​​$6,500
    ​​Third and Fourth Years (Junior & Senior) up to $5,500 ​$7,500
    LIFETIME LIMIT: ​​up to $23,000 ​$31,000
    Independent Undergraduate Student ​Subsidized Limit ​Total Limit (includes Unsubsidized Loan)
    ​First Year (Freshman) ​up to $3,500 ​$9,500
    ​Second Year (Sophomore) ​up to $4,500 ​​$10,500
    ​Third and Fourth Year (Junior & Senior) ​up to $5,500 ​$12,500
    LIFETIME LIMIT: ​up to $23,000 ​$57,500

     

    Graduate Student               Unsubsidized Limit                              Total Limit
    Graduate Student               up to $20,500                  $20,500
    LIFETIME LIMIT:                  $138,500

     

    Please Note: Loan limits are set by Congress. The amount of financial aid you are awarded cannot exceed your cost of attendance. Your loan eligibility may be reduced upon receipt of other resources (i.e., scholarship, tuition waiver, 3rd party payment, etc.).


    Federal Loan Servicer

    Your loan account will be assigned to one of the Federal Loan Servicers. A loan servicer is a company that handles the billing and other services on your federal student loan. The loan servicer will work with you on repayment plans and loan consolidation and will assist you with other tasks related to your federal student loan.

    Don't know your Servicer? After your first loan is processed, your Servicer will mail you a disclosure statement that includes their contact information. You can also find their contact information at NSLDS.ed.gov. Log in using your FSA ID.

    It is important to maintain contact with your loan servicer, so register for FREE at your Servicer's web site to access your account. If your circumstances change at any time during your repayment period, your loan servicer will be able to help.​​​​​


    Repayment

    • Repayment is deferred while you’re in school. Interest will continue to accrue on the unsubsidized loan even if you are granted a deferment on the loan
    • 6-month grace period before repayment begins
    • You may prepay your loans in full at any time or pay more than the monthly repayment amount without penalty
    • Check your account online at your Servicer's web site for detailed repayment information and deferment or forbearance, and consolidation options. Your Servicer's statement will also have their contact information and web address or go to National Student Loan Data System (NSLDS) to find your Servicer's information.
    • Use the Federal Student Aid Loan Repayment Estimator to explore your loan repayment options.
    • More information is available on Student Aid on the web under How to Repay Your Loans.

    A Federal Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan. The result is a single monthly payment instead of multiple payments. Most students already have all of their loans under one Federal Loan Servicer, which makes loan repayment simple and easy. However, some students may have more than one Servicer. If you have more than one Servicer, you may want to consider loan consolidation.

    Visit the Direct Consolidation Loan page for more information and instructions on how to consolidate your federal student loans.​​​​​​​​​​​​​​​​​​​​​​​​​​

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 Fed Graduate PLUS Loan

The Federal Graduate PLUS loan is a federal loan that graduate or professional degree students can use to help pay education expenses. The U.S. Department of Education makes Direct PLUS Loans to eligible borrowers through CU Denver's participation in the Federal Direct Loan Program. More information about the Federal Graduate PLUS Loan can be found on the U.S. Department of Education's PLUS Loans page.


Eligibility

To be eligible for the Federal Graduate PLUS Loan, you:

  • Must be enrolled at least half-time in an eligible graduate degree program
  • Must submit a Free Application of Federal Student Aid (FAFSA) to determine your eligibility.
  • Must be a U.S. citizen or eligible non-citizen (see Basic Eligibility Criteria
  • Must be registered with th​e Selective Service, if required (male students only). You can check requirements at SSS.gov
  • Continuing students must meet the CU Denver Satisfactory Academic Progress (SAP) standards
  • Must not have an adverse credit history. A credit check will be performed during the application process. Examples of adverse credit include:
    • Bankruptcy
    • Delinquent debt of 90 days or more
    • Foreclosure
    • Loan default
    • Repossession
    • Tax Lien
    • Wage Garnishment
    • Write-off of Title IV federal loan debt within preceding 5 years of PLUS Loan application

Features


Requirements

New borrowers must complete the Entrance Counseling and Master Promissory Note (MPN). The loan will not pay until these requirements are completed.

Credit Check: Direct Loan Servicing will run a credit check and notify the student borrower of the results. Adverse credit history* such as bankruptcy, foreclosure, tax lien and default on loan payments may be considered. If your credit check is not approved, please contact Direct Loan Applicant Services at (800) 557-7394 to discuss available options, which usually include:

  • Obtain an endorser (co-signer)
  • Appeal the credit decision
  • Decline the Direct PLUS Loan (please notify the Financial Aid & Scholarships Office)
  • Undecided

*The October 23, 2014 regulations provide that a PLUS loan applicant has an adverse credit history if, in addition to other conditions (e.g., bankruptcy, foreclosure, tax lien, or a default determination), the applicant has one or more debts that are 90 or more days delinquent or that are in collection or have been charged off during the two years preceding the date of the applicant’s credit report, but only if the total combined outstanding balance of those debts is greater than $2,085. Thus, absent any other adverse credit history finding a PLUS Loan applicant whose credit check shows that the total of any debts that are 90 or more days delinquent or that have been placed in collection or charged off is $2,085 or less will not be considered to have adverse credit and therefore, will be eligible for a PLUS Loan.

Beginning on March 29, 2015, a new regulatory provision requires special loan counseling for any PLUS Loan applicant who has an adverse credit history, but who qualifies for a PLUS Loan through the process for reconsideration due to extenuating circumstances or by obtaining an endorser for the loan. While the counseling is mandatory only for these borrowers, the U.S. Department of Education will offer voluntary counseling for all PLUS Loan borrowers. [see U.S. Dept. of Ed. regulation CFR 685.304(a)(2)]


Loan Disbursement

PLUS Loan funds will first be applied to the student borrower's CU Denver account to pay tuition, fees and other institutional charges. Any remaining funds will be refunded to the student borrower by the Bursar's Office.


Federal Loan Servicer

The loan account will be assigned to one of the Federal Loan Servicers. A loan servicer is a company that handles the billing and other services on your federal student loan. The loan servicer will work with the student borrower on repayment plans and loan consolidation, and will assist the student borrower with other tasks related to the Federal Graduate PLUS Loan.

Don't know your Servicer? After your first loan is processed, your Servicer will mail you a disclosure statement that includes their contact information. You can also find their contact information at NSLDS.ed.gov. Log in using your FSA ID.

It is important to maintain contact with the loan servicer, so register for FREE on the Servicer's web site to access the account. If circumstances change at any time during the repayment period, the loan servicer will be able to help.


Repayment

  • Repayment is deferred while your student is at least half-time enrolled and for six months after graduation or dropping below half-time enrollment
  • There are no pre-payment penalties
  • About 4-6 weeks after the first disbursement of the loan, the Federal Loan Servicer will mail a disclosure statement that will include their contact information and web address or go to National Student Loan Data System (NSLDS) to find the Servicer's contact information
  • Use the Federal Student Aid Loan Repayment Estimator to explore your loan repayment options.
  • Additional information about the Direct PLUS Loan is available on the U.S. Department of Education's How to Repay Your Loans page

An Income-Driven Repayment Plan sets your monthly student loan payment at an amount that is intended to be affordable based on your income and family size.

A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan. The result is a single monthly payment instead of multiple payments. Most students already have all of their loans under one Federal Loan Servicer, which makes loan repayment simple and easy. However, some students may have more than one Servicer. If the student borrower has more than one Servicer, loan consolidation may be helpful.

Visit the Direct Consolidation Loan page for more information and instructions on how to consolidate federal student loans.

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 Fed Parent PLUS Loan

The Federal Parent PLUS loan is a federal loan that parents of dependent undergraduate students can use to help pay education expenses. The U.S. Department of Education makes PLUS Loans to eligible borrowers through the CU Denver's participation in the Federal Direct Loan Program. More information about the Federal Parent PLUS Loan can be found on the U.S. Department of Education's PLUS Loans page.

 

Eligibility

Eligible students:


Eligible parents:

  • Must be the student’s biological, adoptive, or step parent
  • Must be a U.S. citizen or eligible non-citizen
  • Must have a valid social security number
  • Must not be in default on any federal student loan or owe a refund on a federal student grant
  • Must not have an adverse credit history. A credit check will be performed during the application process. Examples of adverse credit include:
    • Bankruptcy
    • Delinquent debt of 90 days or more
    • Foreclosure
    • Loan default
    • Repossession
    • Tax Lien
    • Wage Garnishment
    • Write-off of Title IV federal loan debt within preceding 5 years of PLUS Loan application

 

Features

  • The Parent PLUS Loan can be consolidated with the parent borrower's other federal loans
  • A single contact for everything from application to repayment
  • Flexible repayment options
  • There are no pre-payment penalties
  • The maximum loan amount is the cost of attendance or budget minus any other financial aid received
  • Fixed interest rates
  • Origination Fee

 

Requirements

New parent borrowers must complete the PLUS Application and Master Promissory Note (MPN). The loan will not pay until these requirements are completed.

Credit Check: Direct Loan Servicing will run a credit check and notify the parent borrower of the results. Adverse credit history* such as bankruptcy, foreclosure, tax lien and default on loan payments will be considered. If the credit check is not approved, the parent borrower should contact Direct Loan Applicant Services at (800) 557-7394 to discuss available options, which generally include:

  • Obtain an endorser (co-signer)
  • Appeal the credit decision
  • Decline the Direct PLUS Loan (please notify the Financial Aid & Scholarships Office)
  • Undecided

*The October 23, 2014 regulations provide that a PLUS Loan applicant has an adverse credit history if, in addition to other conditions (e.g., bankruptcy, foreclosure, tax lien, or a default determination), the applicant has one or more debts that are 90 or more days delinquent or that are in collection or have been charged off during the two years preceding the date of the applicant’s credit report, but only if the total combined outstanding balance of those debts is greater than $2,085. Thus, absent any other adverse credit history finding a PLUS Loan applicant whose credit check shows that the total of any debts that are 90 or more days delinquent or that have been placed in collection or charged off is $2,085 or less will not be considered to have adverse credit and therefore, will be eligible for a PLUS Loan.

Beginning on March 29, 2015, a new regulatory provision requires special loan counseling for any PLUS Loan applicant who has an adverse credit history, but who qualifies for a PLUS Loan through the process for reconsideration due to extenuating circumstances or by obtaining an endorser for the loan. While the counseling is mandatory only for these borrowers, the U.S. Department of Education will offer voluntary counseling for all PLUS Loan borrowers. [see U.S. Dept. of Ed. regulation CFR 685.304(a)(2)]

 ​

Loan Disbursement

PLUS Loan funds will first be applied to the student's CU Denver account to pay tuition, fees and other institutional charges. Any remaining funds will be refunded to the parent borrower or the student by the Bursar's Office based on the choice that the parent borrower selected on the PLUS Application form.

 


Request for Increase to Parent PLUS Loan


Federal Loan Servicer

The loan account will be assigned to one of the Federal Loan Servicers. A loan servicer is a company that handles the billing and other services on your federal student loan. The loan servicer will work with you on repayment plans and loan consolidation and will assist you with other tasks related to your federal student loan.

Don't know your Servicer? After your first loan is processed, your Servicer will mail you a disclosure statement that includes their contact information. You can also find their contact information at NSLDS.ed.gov. Log in using your FSA ID.

It is important to maintain contact with the loan servicer, so register for FREE on the Servicer's web site to access the loan account. If circumstances change at any time during the repayment period, the loan servicer will be able to help.

 

Repayment

  • On the PLUS Application, the parent borrower, can "opt" to defer repayment while the student is at least half-time enrolled. Otherwise, the loan enters repayment once it is fully disbursed (paid out). Interest will continue to accrue whether or not the loan is granted a deferment/forbearance on the loan
  • There are no pre-payment penalties
  • About 4-6 weeks after the first disbursement of PLUS loan, the Federal Loan Servicer will mail a disclosure statement that will include their contact information and web address or go to National Student Loan Data System (NSLDS) to find your Servicer's contact information
  • Use the Federal Student Aid Loan Repayment Estimator to explore loan repayment options.
  • Additional information about the Direct PLUS Loan is available on the U.S. Department of Education's How to Repay Your Loans page

 

Federal Loan Consolidation

A Direct Consolidation Loan allows the parent borrower to consolidate (combine) multiple federal education loans into one loan. The result is a single monthly payment instead of multiple payments. Most borrowers already have all of their loans under one Federal Loan Servicer, which makes loan repayment simple and easy. However, some parent borrowers may have more than one Servicer. If the parent borrower has more than one Servicer, he/she may want to consider loan consolidation. In addition, if the parent borrower is considering a loan forgiveness program, loan consolidation may be necessary.

Visit the Direct Consolidation Loan page for more information and instructions on how to consolidate federal student loans.​​​​​​​​​​​​​​​​​​​​​​​​

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 Alternative (private) Student Loan

An alternative student loan, or private educational loan, is a credit-based supplemental loan made by private lenders to help “fill the gap” between your Cost of Attendance (COA) and what the Financial Aid & Scholarships Office can award. Alternative student loans are not considered a federal loan so the interest could be higher and variable. Some lenders do offer a fixed interest rate product. The interest rate will be based on the borrower's credit. Students may be required to apply with a co-borrower.

Although this is a “private” student loan, lenders require the Financial Aid & Scholarships Office to certify the loan so that the student does not borrow more than their COA. The Financial Aid & Scholarships Office can help you determine your eligibility for an alternative student loan.​

 

Process

Cost of Attendance - Federal Student Aid Package = Alternative Loan Limit

Eligible students should apply for federal student aid before applying for an alternative student loan. Once your aid amount is determined, subtract that from your estimated COA to determine the difference between the two to make up with an alternative loan. We highly recommend you only borrow what you actually need to bridge this gap.

 

Credit Check

students and co-borrowers must meet the lender’s established minimum credit criteria. Lenders may consider a number of factors when determining loan eligibility such as credit-worthiness and debt-to-income ratio. Students and co-borrowers are encouraged to obtain a free copy of their credit report annually from AnnualCreditReport.com.

 

Evaluating and Selecting a Lender

If you make good choices right from the start in selecting the lender, the whole process will go more smoothly, from application to that final payment. You'll want to compare the following aspects of lender services when deciding which lender to choose:

Interest rates, fees and terms

  • How is your interest rate calculated?
  • Can I get a better interest rate by applying with a co-signer?
  • Are there any additional fees for this loan?
  • What are the terms of the loan?

Customer service

  • Can you reach a live operator quickly to check on the status of your loan during hours convenient for you?
  • Can you set up an online account and will it show you current information and timely updates?

Loan application processes

  • Can you apply online?
  • Is instant loan approval offered?

Repaying your loan

  • How soon do I have to start repaying the loan after graduation or dropping below half-time status?
  • Does the lender offer deferment or forbearance options while I’m in school and after graduation?

Early payment

  • Are there any penalties for paying off the loan early?

Repayment plans

  • What repayment plans and options are available?

Repayment incentives

  • What incentives does the lender offer for borrowers who pay on time or make loan payments electronically?

If you are seeking an alternative student loan you will initiate the process by contacting the lender of your choice (apply using school code 004508-00). Please notify the Financial Aid & Scholarships Office that you have applied for an alternative student loan and the lender you selected. The lender will submit a school certification request to the Financial Aid & Scholarships Office.

Once the Financial Aid & Scholarships Office processes the certification request, your lender will notify you of the total amount certified and the amount and date of each disbursement (disclosure statement). Funds will be sent to the University to pay your tuition bill first. Any remaining funds will be sent to you by the Bursar's Office via direct deposit or mail.​​


Loan Consolidation

Alternative Student Loans from various lenders can be consolidated to create one monthly payment. However, these loans cannot be consolidated into a Federal Loan Consolidation. Contact your lender for more information on consolidating your various alternative student loans.​ The best strategy is to borrow from the same lender.​​​​

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 Short Term Loan

Short-term loans are available to eligible students experiencing an unexpected financial emergency. Loan applications are subject to approval and may be denied where loan repayment is in question, the circumstances do not appear urgent or emergency-related, or the applicant appears to be over-reliant on the emergency loan program in lieu of managing a budget. Loans are generally due in 30 days.

HOW TO APPLY

You must meet with an advisor in the Financial Aid & Scholarships Office to complete the Short-Term Loan Program Acknowledgement Statement and the Short-Term Loan Application and Promissory Note. The maximum loan amount is $500. Exceptions must be approved by an Assistant Director or higher.

You must provide an acceptable photo ID (e.g. CU Denver ID, state-issued photo ID, military ID, passport). The Bursar’s Office will issue a check for the short-term loan amount, usually during the same visit.

DATES OF AVAILABILITY

  • Continuing students: Short-term loans are available no earlier than one week before classes start each semester.
  • New students: Short-term loans are available no earlier than the first day of classes during your first semester at the CU Denver Campus.

ELIGIBILITY REQUIREMENTS

  • Must be at least 18 years old.
  • Must be enrolled at least half-time in an eligible undergraduate, graduate or professional degree or certificate program. Minimum half-time is defined as:
    • 6 hours for undergraduates; 3 hours for graduate; and 5 hours for professional students.
    • 1 thesis or dissertation hour is considered full-time.
  • Must have submitted the Free Application for Federal Student Aid (FAFSA).
  • Must be meeting Satisfactory Academic Progress (SAP) standards​.
  • Must have tuition charges paid in full or have anticipated financial assistance that will not be available for at least one week.
  • Must not have a history of delinquent short-term loans or other outstanding debt to the university.
  • Must not have borrowed a short-term loan for the same semester.
  • Must not be employed by the university (except work-study employees and student hourly employees).
  • Must have a verifiable source of income through Veteran Benefit educational programs (if applicable).

LOAN TERMS

  • Garman Short-Term Loans are interest free for 30 days. A late payment service charge of 1.75% per month will be assessed on all loan amounts not paid by the due date.
  • An administrative fee of $10 is assessed for each short-term loan. This fee is automatically added to the loan balance and is repaid when the loan is repaid.
  • The maximum loan amount is $500. Exceptions must be approved by an Assistant Director or higher.

REPAYMENT TERMS AND PAYMENT OPTIONS

  • The principal loan amount and administrative fee are billed through your student account and are due 30 days from the application date of the loan.
  • Financial aid awards, loans, or other credits to your student account may result in the loan balance being paid before the due date.
  • Borrowers are responsible for repayment whether or not they receive a bill.
  • Borrowers must give the university permission to use their financial aid funds to pay charges other than tuition and fees. To grant permission, go to UCDAccess and click the following: Student Center > Account Inquiry > Account Services > Student Permission.

DEFAULT POLICY

Failure to repay this loan when due may result in any or all of the following:

  • A late payment service charge of 1.75% per month will be assessed for all loan amounts not paid by the due date.
  • Disenrollment from the university, denial of registration, scheduling, transcripts, and issuance of diploma; possible referral to a collection agency; possible suit for payment.
  • Refunds of financial aid funds or other monies awarded or due you from the university may be used to repay the short-term loan.
  • In the event it becomes necessary to enforce the payment of this note, or any part thereof, by action of law, or otherwise, you may be liable for any costs of collections allowed by the Uniform Consumer Credit Code, including reasonable attorney fees.
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