Other Financing Options
If your family's resources plus the financial aid award are insufficient to meet the full cost for the year, consider one or more of the following financing options:
Graduate Direct PLUS Loans
- Students admitted into a Graduate program may apply for a Federal Direct PLUS loan. Students must first file a FAFSA and receive maximum Stafford eligibility.
- Graduate students must pass a credit check and cannot be in default on an education loan or owe a refund on an education grant to qualify.
- The student may borrow up to the annual cost of attendance minus all other aid awarded to the student.
- The Graduate Direct PLUS loan has a fixed interest rate of 7.9%.
- Repayment begins 6 months after graduating or dropping to less than half-time status. Students enrolled at least half time with Graduate Direct PLUS loans will be placed in an in-school deferment and will remain on an in-school deferment as long as the student remains enrolled at least half-time.
- To learn more about the Federal Direct PLUS loan program, or to start an application, click here.
Private Alternative Loans
- A student, who has exhausted all other financial aid options, may want to consider applying for an alternative educational loan.
- Students enrolled at least half time are eligible, and can apply for this type of loan on their own if creditworthy. If not, a creditworthy cosigner will be required.
- Students can borrow up to cost of attendance minus other aid received.
- Payments are deferred as long as the student remains enrolled half time, but interest will accrue while in school.
- To apply click on the following link: Apply for Private Loans
United Methodist Loan
- The United Methodist Loan is available to a student who is an active, full member of The United Methodist Church for at least one year prior to application.
- The annual loan maximum is $5,000 for full-time students; $2,500 for half-time students.
- A cosigner is required.
- Repayment begins no later than six months after graduation and there is a ten-year repayment period.
- Interest accrues on the principal balance from the date the loan check is disbursed until loan is paid in full.
- There are no prepayment penalties.
- Applications are available online at www.gbhem.org.
UIndy Payment Plan Options
- If payment in full is not possible by the payment deadline, UIndy's Accounting Office does offer interest-free payment plans. For more information, click here.
- An application and processing fee will be assessed.
- VISA, MasterCard, American Express, and Discover are accepted by the university for payment of books and institutional charges.
- Payments can be made by authorized users on the school website.