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Undergraduate Loans

Loan Programs Designed for Undergraduate Students

There are several types of loans available to undergraduate students to help fund their education.

Types of Loans

Federal Direct Loans

Federal Direct Loans include subsidized and unsubsidized and PLUS (parent loan for dependent students) options.

  • Subsidized: For undergraduate students with demonstrated financial need, as determined by the FAFSA. The Federal government pays the interest on this loan while the student is enrolled in school on at least a half-time basis.
  • Unsubsidized: This type of loan is not based on financial need. Interest is charged while the student is in school, grace and deferment periods. Interest accrued during these periods will be capitalized onto the principal amount borrowed when the student drops below half-time enrollment. When students complete the Master Promissory Note (MPN) they are given the option of making interest payments during the in-school period.
  • PLUS: This is an unsubsidized loan for the parents of dependent students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods and repayment normally begins 60 days after the loan is fully disbursed. 

    A FAFSA is required to determine the parents' eligibility along with a credit check of the parents' credit worthiness.

Alternative Loans

Once you have exhausted all federal grant, loan and work opportunities along with institutional aid funds, but still do not have the personal resources to pay any remaining balance owed to Creighton, a non-federal private alternative loan may be an option to consider.

Creighton Undergraduate Institutional Loan Program

The Creighton Undergraduate Loan Program allows undergraduate students to borrow a limited amount of loan funds through the University. The interest rate is fixed at 6%, no interest accrues while a student is enrolled at least half time and repayment begins 9 months after graduation or less than half-time enrollment, whichever comes first.

Federal Nursing Loans

Federal Nursing Loans are low-interest loans for nursing students in need through the Department of Health and Human Services. Award amounts vary each year depending upon available funds. The interest rate is fixed at 5%, no interest is charged while a student is enrolled at least half-time, and repayment begins nine months after graduation or less than half-time enrollment, whichever comes first.

More Loan Information

Federal loans and most private loans are disbursed electronically to your student account at the Business Office. Provided all requirements are met, loan funds generally disburse about three days before classes start each term. If your financial aid exceeds direct costs, the Business Office will refund the balance to you generally within two business days by signing up for direct deposit on the NEST.

If you are seeking information on your past and present loans, visit studentaid.gov.

The Federal Student Aid Ombudsman works with federal student loan borrowers to resolve loan disputes or problems from an impartial, independent viewpoint. If you have a problem with a federal student loan, you should contact the holder of the loan and try to resolve the problem. If you can't resolve the problem, contact the FSA Ombudsman Group at 877.557.2575.

Resources and Next Steps