Institutional Loan Program

The SPU institutional loan is a low-interest loan available to undergraduate students who demonstrate high financial need.

SPU Institutional Loan Details

  • Seattle Pacific University is the lender.
  • Heartland ECSI is the servicer.
  • The current interest rate is 5% (fixed). Interest will begin to accrue at the time of repayment.
  • The origination fee is 5%.
  • Repayment begins at the conclusion of a 6 month grace period. The grace period begins when the student drops below half-time status or leaves SPU.
  • The minimum monthly repayment amount is currently $50. The monthly payment due may be more if the amount borrowed requires larger payments to pay the loan in full within the maximum repayment term of 10 years.

Awarded an Institutional Loan?

Please login and complete the requirements here (Use SPU ID number if SSN does not work). You should also receive an email from Heartland ECSI regarding the institutional loan requirements.

Institutional Loan Deferment and Forbearance

The SPU Institutional Loan cannot be included in a Federal Loan Consolidation. Borrowers may be eligible for the following:

  • Deferment is available when students are enrolled at least half-time at Seattle Pacific University. During periods of deferment, students are not required to make payments and interest does not accrue on this loan. Deferment for the SPU Institutional Loan is only available if students are enrolled at SPU
    •  Undergraduate Enrollment: In-school deferment requires at least half-time (6 UG credits) enrollment at SPU.
    • Graduate Enrollment: In-school deferment requires at least half-time (3 GR credits) enrollment at SPU. Eligibility for in-school deferment for graduate enrollment is available for a maximum of two years.
  • Forbearance may be available for periods of no more than 12 months at the discretion of SPU. During periods of forbearance, interest continues to accrue on the unpaid principal balance of the loan. The maximum repayment period of the loan remains 10 years, including any periods of forbearance. Approval requires completion of a forbearance request and submission of all requested documentation.
    • Hardship Forbearance may be requested due to a borrower's extraordinary circumstances such as unemployment, poor health or other personal problems that have a short-term impact on the borrower's ability to make payments on the loan.
    • Educational Forbearance may be requested for periods of up to 12 months if borrowers are enrolled full-time at another accredited, post-secondary educational institution.

If you are unable to make your payments, please contact Seattle Pacific University at or 206-281-2062 immediately to discuss options that may be available to assist you.