- Origination fee: 5%
- Interest rate: 5%
- Interest accrual/repayment: begins 6 months after going below least half time enrollment at SPU
- Repayment period: 10 years
- Minimum monthly payment: $50
- Loan Servicer: Heartland ECSI
Initial eligibility application: Free Application for Federal Student Aid (FAFSA)
Download complete details with the SPU Institutional Loan Fact Sheet:
If you’re awarded an SPU Institutional Loan you will receive an email in July with details about loan requirements.
Emergency short-term loan funds
In an emergency, you may also borrow a limited amount of money for up to 30 days. Pick up an application form at Student Financial Services.