Loans | Graduate & Professional

Federal Direct Unsubsidized Loan

The unsubsidized Federal Direct Loan is available to students who file the FAFSA and meet general federal student aid eligibility requirements. Loans can meet or exceed the student’s federally defined need up to annual and aggregate limits determined by the borrower’s degree program. The loan principal may be deferred but interest accrues once the loan is disbursed.

Graduate students can borrow up to $20,500 annually. Doctoral students in optometry, clinical psychology, pharmacy and students in the Master's in Healthcare Administration program can borrow additional amounts specific to their program.

Interest Rate, Fees & Repayment

  • 7.05% for loans disbursed starting July 1, 2023 through June 30, 2024
  • 6.54% for loans disbursed starting July 1, 2022 through June 30, 2023
  • 5.28% for loans disbursed starting July 1, 2021 through June 30, 2022
  • Fixed interest rate
  • Interest paid may be tax-deductible
  • Fees of 1.057% are deducted from the loan when disbursed to the school after October 1, 2020
  • Standard 10-year repayment begins six months after graduation, or ceasing to be enrolled at least half-time. Other repayment options may be available and are described at studentaid.gov
  • Deferment, cancellation, forbearance, forgiveness, and discharge information is available at studentaid.gov.
  • For more information about loan repayment, watch Pacific University's Loan Repayment Video.  

Pacific's official 2018 Cohort Default Rate is 1.7%, lower than the national average of 7.3% and the private school average of 5.2%.

Federal Direct Graduate PLUS Loan

The Federal Direct Graduate PLUS Loan is available to students who file the FAFSA and meet general federal student aid eligibility requirements. To be eligible for the loan, borrowers must not have an adverse credit history. Loans can meet or exceed the student’s federally defined need. Repayment typically begins 60 days after the loan has been fully disbursed, but can be deferred while the student is enrolled at least half-time

Borrowers can apply for up to the cost of attendance minus any other financial aid received. Interest begins to accrue at a fixed rate when the loan is disbursed. Repayment typically begins 60 days after the loan has been fully disbursed, but can be deferred while the student is enrolled at least half-time.

Interest Rate, Fees & Repayment

  • 6.28% for loans disbursed starting July 1, 2021 through June 30, 2022
  • 7.54% for loans disbursed starting July 1, 2022 through June 30, 2023
  • Fixed interest rate
  • Interest paid may be tax-deductible
  • Fees of 4.228% are deducted from the loan when disbursed to the school after October 1, 2020
  • Standard 10-year repayment begins six months after graduation, or ceasing to be enrolled at least half-time. Other repayment options may be available and are described at studentaid.gov
  • Deferment, cancellation, forbearance, forgiveness, and discharge information is available at studentaid.gov.
  • For more information about loan repayment, watch Pacific University's Loan Repayment Video.  

Health Professions Student Loans (HPSL)

Health Professions Student Loans are available to eligible optometry and pharmacy students based on availability of funds and a program-specific definition of demonstrated need. To be considered for the Health Profession Loan, students must submit their FAFSA by April 15th (for the 2024-25 school year only) and provide parent information to the financial aid office. Contact Lisa Christensen for more information. No interest accrues on the loan while the borrower maintains at least half-time enrollment and for a 12-month grace period after they cease to be enrolled at least half-time. Interest will begin to accrue at a fixed rate of 5 percent when the loan enters repayment.

Alternative Loans

A variety of private lenders offer alternative loans funded through non-governmental sources. Once you and your family have considered all of the federal loan options, you can view and compare alternative loan options using FASTChoice or Sparrow. While these tools can help you and your family make an informed decision about the most appropriate loan for you, you are not required to select a lender using FASTChoice or Sparrow.

FASTChoice is a tool that provides detailed information for various loans, as well as the terms and benefits offered by lenders that have provided alternative loans to Pacific University students in prior years. 

On Sparrow, you can search and compare real, personalized private student loan offers from over 15+ lenders through a simple, three-minute application.  Sparrow provides a suite of analytical tools that make student loan comparison easy, digestible, and visual. Using Sparrow to search for your student loans is free and does not impact your credit score.

Pacific University staff members follow the Education Loan Code of Conduct (pdf) in administering education loans.