Applying for Educational Loans
Federal Loans
In order to simplify the loan process for our students and parents, APU switched to Federal Direct Loans as of the 2009-10 school year. Review general frequently asked questions about Direct Loans. For information specifically applicable to you, please select the appropriate option below:
Federal Direct Stafford Loan (students)
How to apply:
- Complete the FAFSA.
- Once you receive your financial aid award letter, go to the student portal at home.apu.edu to accept, reduce, or decline your Direct Stafford Loan.
- New borrowers also need to complete the Online Stafford Loan Entrance Counseling at www.studentloans.gov. (After signing in, click on the Complete Entrance Counseling link.)
- New borrowers also need to complete the Online Stafford Loan Master Promissory Note at www.studentloans.gov. (After signing in, click on the Complete Master Promissory Note link. Then select the Subsidized/Unsubsidized link.)
Federal Direct PLUS Loan (parents)
How to apply:
- Complete the FAFSA.
- Once your student receives a financial aid award letter, complete the Parent PLUS Loan Worksheet.
- New borrowers also need to complete the Direct Parent PLUS Loan Master Promissory Note at www.studentloans.gov.
Alternative Loans
A private student loan is a nonfederal loan issued by a lender such as a bank or credit union. Private student loans often have variable interest rates, require a credit check and a co-signer, and do not provide the benefits of federal student loans. These loans are designed to cover costs that are not eligible to be paid by a Federal Direct Loan, i.e. a past-due balance from a previous semester or less than half-time attendance.
Federal Direct Loans generally have more favorable terms and conditions than private loans. We recommend that you utilize all Direct Stafford Loan eligibility before turning to private loans.
Students who need additional funds beyond the Stafford Loan should consider the Direct PLUS Loan before applying for a private loan.
Azusa Pacific University uses a wide range of private lenders based upon their ability to provide good service to our students. Students may apply for a private loan from a list of recommended lenders or feel free to choose another lender who provides education loans.
APU’s private lender list is without prejudice and is for the sole benefit of students attending the institution. Employees responsible for processing loans adhere to a strict student loan Code of Conduct.
