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Financial Aid
Member, Texas Tech University System The Princeton Review - 373 Best Colleges, 2011 Edition

ASU Students

Long-Term Loans

Available Loans

ASU offers several types of loans to students and their families. Please visit the list of loans for more information.

Repayment Information

Accepting a loan is a serious legal obligation. It is imperative that all student borrowers have a thorough understanding of all terms and conditions of the loan. Financial Aid Office staff members are available to answer questions concerning interest rates, repayment terms, etc.

The table below demonstrates the loan repayment plan for a total loan amount of $15,000 (the average indebtedness of ASU students). The chart compares the loan at several interest rates with the maximum repayment period of 120 months.

Interest Rate Monthly Payment Total Interest
5% $159.10 $4,092.00
6% $166.53 $4,983.69
7% $174.16 $5,899.20
8% $181.99 $6,838.80
9% $190.01 $7,801.20

Entrance and Exit Counseling Requirements

Students who receive funding through federal loan programs must complete entrance counseling before receiving the first loan disbursement. ASU requires entrance counseling before loans can be disbursed. Prior to graduating, transferring or dropping below half-time status, all federal loan recipients must complete exit counseling. Entrance and exit counseling are required to inform borrowers of their rights and responsibilities as loan recipients and to allow an opportunity for questions concerning the program requirements and repayment options. Entrance and exit counseling can be done online.

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Long-Term Loan Information

Looking for more long-term loan information? Check out these pages:

Emergency Short-Term Loans

Students who have maintained a satisfactory repayment record are eligible to apply for emergency loans.

These loans are typically used if a student does not have funds for a tuition installment payment as a result of an unexpected circumstance, such as the delay of awarded financial aid.

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Did You Know?

You can meet loan entrance and exit counseling requirements online.

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