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 every 200 calendar days. Prior to graduating, transferring or dropping below half-time status, all federal loan recipients must complete exit counseling. Entrance and exit counseling is 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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