Student loans may be an option for some families. The main difference between loans and scholarships and grants is that loans must be repaid. This can get a little intimidating, but don't worry. Our staff is here to help with your questions and concerns. NOTE: Students must be enrolled in at least 6 credits in order for loans to pay to their accounts.

Entrance counseling is required if you are a student applying for the first time for a federal Direct loan. If you want more information about the rights and responsibilities of borrowing a student loan, ask for an appointment with a financial aid counselor. Exit counseling is also required if you have borrowed federal Direct loans and have graduated or dropped below half-time status. You'll need to update your contact information, and you'll receive reminders of your rights and responsibilities.

If you have a MyVU account, you can find your specific financial aid information with your login to MyVU.  Click on Financial Aid Status in the My Access column.

Federal Direct Stafford Loan
Federal program. First-year eligibility up to $5500; more for second and third years. Interest rate set annually by Congress. There are two types of federal Stafford loans:
Subsidized loan – no interest accumulates until repayment starts; repayment is deferred for six months after graduation or dropping below half-time status (2019-2020 interest rate = 4.53%).
Unsubsidized loan – interest is charged immediately; student can pay interest while in school or let it accumulate until repayment starts; repayment deferred for six months as in subsidized loan (2019-2020 interest rate = 4.53%).

If you have had federal student loans discharged due to disability, you can find information about that on the Federal Student Aid Web site.

Federal Direct Parent PLUS Loan
For dependent students: Parents may be offered a Direct PLUS loan. To apply for this loan, you must fill out the Parent PLUS Loan Application on If the parent's credit is approved, the parent will also need to complete a PLUS Master Promissory

Note. Interest rate and processing costs set annually by Congress (2019-2020 interest rate = 7.08%; 4.236% of loan amount is kept by Federal Student Aid for processing).  Credit check is conducted by the Department of Education. If a parent’s application is denied by the lender, the student is eligible for an additional unsubsidized Direct Stafford loan of up to $4,000 per year.  To apply for this additional federal direct unsubsidized Stafford loan, the student should go to their MyVU.  There follow the directions for accepting Stafford loans, only this time the student will accept the "Additional Unsub - PLUS Denial."

Private Loans
Also sometimes called alternative education loans. Terms and interest rates vary according to lender. Eligibility is based on credit worthiness as determined by the lender. If applied for in the name of a student who has no credit history or poor credit history, a credit-worthy co-signer is needed.  Research private loans under the "Private Loan" link with the INvestED Marketplace and FASTChoice.

Code of Conduct on Private Loans
To comply with the 2008 Higher Education Opportunity Act and to prohibit conflicts of interest for personnel in student financial services, Vincennes University adopts the following code of conduct with respect to lenders of private education loans.  Vincennes University:

  • does not require the use of particular lenders or in any way limit the choice of lenders.
  • processes loan applications through any lender a student or parent chooses.
  • does not solicit or accept anything of value from any lender in exchange for any advantage sought by the lender to make educational loans to students of the university.
  • prohibits employees of student financial services and any employee who otherwise has responsibilities with respect to educational loans from entering into any type of consulting arrangement or other contract to provide to a lender services relating to educational loans.
  • prohibits employees of student financial services and any employee who otherwise has responsibilities with respect to educational loans, who serve on an advisory board relating to educational loans established by a lender from receiving anything of value from the lender in conjunction with service on such an advisory board.
  • prohibits external lenders’ employees, representatives, or agents from providing staffing services to the student financial services office.

Information for Students from Washington State

For Washington State residents seeking information and resources about student loan repayment or seeking to submit a complaint relating to your student loans or student loan servicer, please visit or contact the Student Loan Advocate at