Loans for Graduate Students

Criteria for Eligibility

Graduate students who are accepted into a degree program and register for at least half-time credits (5 or more) in a semester may apply for a federal loan through the government’s Direct Loan Program.

Federal Direct Loans carry a fixed interest rate and offer benefits to borrowers such as deferred repayment while the borrower is enrolled at least half-time in school and the possibility of loan forgiveness for teachers in low-income areas or other eligible professions. For more information about the Direct Loan program including current interest rates, borrower benefits and other terms and conditions, visit the government's Federal Student Aid site.

Academic standards need to be met each semester in order to be eligible to receive Federal Direct Loans. For more information on Satisfactory Academic Progress, click here.

How to apply

Follow these steps each semester you wish to apply for federal loans:

1. Complete the Federal Direct Loan Request for Graduate Students
2. Complete the FAFSA
   A new FAFSA must be received each year that you would like to apply for a loan. For courses taken from Summer 2025 through Spring 2026, choose the 2025-26 FAFSA. Click here to complete one now.
3. Sign your Master Promissory Note
   Only required if this is your first time borrowing as a Gordon Graduate student
   First time borrowers must sign a Master Promissory Note (MPN) with the Department of Education. Select the form for "Direct Subsidized/Unsubsidized loan". Click here to complete the MPN now.
4. Complete Loan Entrance Counseling
   Only required if this is your first time borrowing as a Gordon Graduate student
   First time borrowers at Gordon must also complete the Loan Entrance Counseling, a federal requirement to help you understand your loan obligations. Click here to complete this now.
5. Receive Your Award Letter
   Once the steps above have been completed, Student Financial Services will review your eligibility and send an award letter via email. This email will include a link to complete step 6, outlined below.
6. Complete the Loan Disbursement Authorization Form
   To finalize your loan, the last step is to complete the Loan Disbursement Authorization Form.

Enrollment Status

Enrollment status is determined by the total number of credits a student is registered for within a semester:

• Part-time: 1-4 credits
• Half-time: 5-8 credits
• Full-time: 9 credits or more

Disbursement of Funds

Your loan amount will be disbursed to your student account when you have achieved half-time status. This means that you must have attended your qualifying class beyond the withdrawal period. Students who cease to be enrolled at least half-time are not eligible to receive federal loans.

Deadlines for Federal Loans

By the date your bill is due:

• Apply for admission into the graduate program
• Submit a Federal Direct Loan Request to Student Financial Services
• Complete a FAFSA for the relevant award year
• Have a Master Promissory Note and Entrance Counseling completed
• Submit a Loan Disbursement Authorization Form to Student Financial Services

Requesting a Refund

Students with a credit balance may request to withdraw that money in the form of direct deposit or a check, once their loan funds have been officially disbursed. Refund Request Form.

Loan Cancellation or Deferment for Teachers

Learn about federal loan cancellation or deferment for teachers at the government's Student Aid site.

Loans from Private Lenders

Private student loans are available for students who do not wish to or are not eligible to borrow a Federal Loan. We will work with any lender you choose, or you can choose from our preferred lender list here. As with any loan, Gordon College suggests that students review all terms and conditions of any private student loan before borrowing. 

To receive a private student loan you must initiate this loan with the lender of your choice. Once you have begun the application process, please notify [email protected].

Graduate Programs Cost of Attendance (COA) 2025-2026

To help you plan for all of your graduate school expenses, whether you choose to pay up-front or cover through loans, below is the estimated cost of attendance for each graduate program at Gordon. These estimates are based on full-time enrollment in graduate courses (three 3-credit classes per semester), although many students choose to pursue their degree part-time and take one or two classes at a time. In addition to those billed costs, the U.S. government considers food, housing and miscellaneous expenses to be part of the real costs of being a full time student, even though most graduate students are not eligible for housing or a meal plan on the Gordon campus. Therefore, when determining your financial aid package (including loans), we consider tuition, anticipated food and housing costs, and estimated transportation and textbook costs, as listed in the tables below.