Getting Started

  • File your FAFSA
  • Watch your email for your aid package
  • Accept or decline the loans on MU Online

Federal Unsubsidized Direct Loan

  • Up to $20,500.00 per academic year
  • In 2020-21 the interest rate is 4.30%
  • There is an up front fee of 1.059% withheld before disbursement
  • The student must maintain at least half time enrollment for this loan (6 credit hours)
  • The student must file a FAFSA - https://studentaid.ed.gov/sa/fafsa
  • The student must complete the loan entrance counseling at https://studentaid.gov/
  • The student must complete the loan agreement (Master Promissory Note) at studentaid.gov

Federal Graduate PLUS Loan

  • We will offer to the Graduate Student the Grad PLUS Loan, up to the cost of attendance
  • This loan is credit based
  • In 2020-21 the interest rate is 5.30% 
  • There is an up front fee of 4.236% withheld before disbursement
  • The student must maintain at least half time enrollment for this loan (6 credit hours)
  • The student must file a FAFSA - https://studentaid.ed.gov/sa/fafsa
  • The student must complete the Graduate PLUS Loan Entrance Counseling at studentaid.gov
  • The student must complete the loan agreement (Master Promissory Note) at studentaid.gov

Other Loan Options

  • Another type of loan you can apply for is an alternative educational loan
  • You can be less than half time (6 credits)
  • Please visit our Loan Program Page for a list of lenders

Other Resources

Refunds

  • Refunds may be used for educational expenses such as fees, housing, food, books, and supplies.
  • Refunds are issued approximately 10 days after the start of your first.
  • If you would like the refund direct deposited to a checking or savings account, please complete the refund form.

Account Questions

  • Please feel free to contact us M-F from 9am-5pm
  • Office of Student Financial Services, Shilling Hall 118
  • Call: 217-424-6317 or email: clondon@millikin.edu