Pepperdine University Admissions Office

Federal Direct STafford LOan and Graduate PLUS LOan

Student Loans
A loan is aid that must be repaid. Total aid awarded in grants, scholarships, and loans may not exceed a student's total cost of attendance. Students who require additional funds may apply for a Graduate PLUS Loan. See below for more information about these loans.

Please also refer to our Loan Repayment page on the menu at the left for information about repaying your student loans.

Federal Direct Unsubsidized Loan  
Graduate students may borrow up to a maximum of $20,500 per academic year in a Federal Direct Unsubsidized Stafford Loan. The Unsubsidized Stafford Loan accrues interest while the student is enrolled, and a student may choose to pay the interest monthly or have it capitalized until repayment. The Federal Direct Stafford Loan maximum for Psy.D. students is $33,000 per academic year.

NOTE: The maximum loan limit per academic year is $20,500 ($33,000 for Psy.D. students).

Direct Loan funds, minus the 1% origination fee (4% origination fee for the Graduate PLUS Loan) are disbursed through the school at the beginning of each term.  Effective July 1, 2011, the interest rate is 6.8% (fixed).

Graduate PLUS Loan
The Graduate PLUS Loan is an option for students who need additional funding beyond what is available through the Federal Stafford Loan program. The Graduate PLUS Loan is a federally-guaranteed loan that requires credit approval from the lender.  It is generally available to students who do not have adverse credit.  Effective July 1, 2007, the interest rate is 7.9% (fixed) and the origination fee is 4%. The Graduate PLUS Loan may be borrowed for up to a student's Cost of Attendance.

Loan History
To check your loan history and details of all loans borrowed for your undergraduate or graduate education, go to www.nslds.ed.gov.

Loan Forgiveness Program  
Students who intend to pursue a career teaching at the K-12 level may be eligible to have a portion of their Federal Stafford Loans forgiven through the California Assumption Program of Loans for Education (APLE).Additional information and applications for the APLE program may be obtained by calling the California Student Aid Commission at (916) 526-7590.

Loan Default
After you leave school and start to repay your student loans, it's important to stay in touch with your student loan lender, especially if you are having difficulty making payments because there may be alternative repayment options available to you. If you need contact information for your lender, please contact the GSEP Financial Aid Office at 310-568-5775 or gsepfaid@pepperdine.edu.

Defaulting on a student loan is serious. Default is reported to all national credit bureaus. This could mean that you would not be able to obtain a credit card, mortgage or a car loan. Your name will also be given to the Internal Revenue Service (IRS) who may take your State and Federal Income Tax refund. You will lose your rights to deferments and forbearances. Finally, legal action may be taken against you and the interest rate you pay on your loan may increase, and your wages may be garnished. In addition, you will not be eligible for financial aid at any school until your default status has been resolved satisfactorily.