Loans

William D. Ford Direct Loan Program

The University participates in the William D. Ford Federal Direct Loan Program, in which borrowers obtain federal loan funds directly from the U.S. Department of Education. Loans are borrowed money and must be repaid by the student.

Federal Direct Unsubsidized Loan

Graduate students who file a FAFSA and enroll at least half time may qualify for a Direct Unsubsidized Loan, a long-term, low-interest loan. The interest rates for Direct Unsubsidized Loans first disbursed on or after July 1, 2025 and before July 1, 2026 is fixed at 7.94%. A loan fee of 1.057% is deducted from the gross loan amount before any loan proceeds are sent to Xavier University. Loan repayment begins six months after the borrower ceases to be enrolled at least half time.

First-time borrowers must complete two requirements to accept the unsubsidized loan. Entrance Counseling provides information on the rights and responsibilities of the student borrower. The Master Promissory Note (MPN), or loan agreement, is the student's legal promise to repay the loan money borrowed. Both items will be completed at StudentAid.gov.

The following chart outlines the current annual and aggregate amounts that graduate students may borrow from the Federal Direct Unsubsidized Loan Program:

**Loan Limits**
Annual Loan Limits (may be prorated for less-than-full-time enrollment)
Teacher Certification Programs	$12,500
Graduate Degree Programs	$20,500
Professional Degree Programs	$50,000

Aggregate Loan Limits*
Graduate students (who are not and have never been professional students)	$100,000
Professional Students	$200,000

Under the One Big Beautiful Bill Act (OBBBA) which was signed into law on July 4, 2025, the aggregate limit for graduate students is capped at $100,000 (in addition to the amount borrowed for undergraduate education), effective July 1, 2026. The aggregate limit for professional students is capped at $200,000 minus any amount that was received as a graduate student. At Xavier, students who enroll in the Doctor of Clinical Psychology (Psy.D.) or the proposed Doctor of Osteopathic Medicine (D.O.) programs are professional students.

Borrowers who are eligible for the Limited Exception (see below) can continue to borrow under the pre-OBBBA aggregate loan limits for up to three academic years or the remaining length of that same degree program, whichever is less. Borrowers who qualify will remain eligible for the current aggregate limits while the exception is in effect. After the exception period ends or the borrower is no longer eligible for the exception, the revised limits will apply.

*Eligibility for the Limited Exception

Be enrolled in a program of study at Xavier as of June 30, 2026
Borrow a Direct Loan while enrolled in this program of study at Xavier prior to July 1, 2026
Be currently enrolled at Xavier in the same program of study and have no break in enrollment in the same program at any point on or after July 1, 2026

Federal Direct Graduate PLUS Loan

Under the One Big Beautiful Bill Act, the Graduate PLUS loan program will be eliminated, effective July 1, 2026.

The law includes a Limited Exception (see above) that allows eligible graduate and professional students to continue borrowing Direct PLUS Loan during their expected time to credential. Students will be eligible for up to three academic years or the remaining length of their degree program, whichever is shorter. After the exception period ends or the borrower is no longer eligible for the exception, the PLUS loan will cease to be an available loan option.

The interest rates for Direct PLUS Loans first disbursed on or after July 1, 2025 and before July 1, 2026 is fixed at 8.94%. A loan fee of 4.228% is deducted from the gross PLUS loan amount before any loan proceeds are sent to Xavier University. Loan repayment begins six months after the borrower ceases to be enrolled at least half time. Before you apply for a PLUS loan, take advantage of the Federal Direct Unsubsidized Loan which has a lower interest rate and lower loan fee.

To apply for the Graduate PLUS Loan students must complete the following:

For summer periods of enrollment, students should complete the PLUS Loan application and Master Promissory Note (MPN) on or after May 1st. For fall and spring periods of enrollment, students should complete the PLUS application and MPN on or after June 1st. A credit check will be performed as part of the loan application; the credit is valid for 180 days. If approved, the loan must disburse before the credit check expires.

Federal Lifetime Maximum Aggregate Loan Limit

Beginning with the 2026–27 award year, student borrowers will have a new lifetime maximum aggregate loan limit of $257,500. This limit includes loans received as an undergraduate, graduate, or professional student and includes both Direct Loans and Federal Family Education Loan (FFEL) Program loans. The limit does not include PLUS loans for parent borrowers, consolidation loans (underlying loans are included), or Health Education Assistance Loan (HEAL) Program/health profession program loans.

For borrowers who qualify for the Limited Exception (see above), the lifetime maximum aggregate loan limit will not apply during the exception period. After the exception period ends, any borrower who continues to borrow will be subject to the new aggregate loan limits.

Private Education Loans

Various private loans are available for students who need additional financial assistance. We strongly recommend that students utilize federal loans before considering private-loan options. Private loans are commercial loans which usually require a credit check and may require credit worthy co-signer. The interest rates are fixed or variable. The loan amount requested cannot exceed the cost of attendance minus other financial aid sources.

We have included several lenders on our private loan list. They were selected on the basis of their loan fees, rates/terms, and customer service. Please note that students may choose any lender and are not limited to lenders on the lender list. Additional information on private-loan options and lenders is available online at the FastChoice website.

Students who decide to apply for a private loan will do so directly on the lender's website. The lender will notify us if the student has been approved. If a loan has been approved, a staff member in the Office of Student Financial Assistance will certify the loan (as long as the student has enrolled for classes). Loan funds will disburse to the student's account one week after the start of the semester. The loan application and certification process takes approximately 2-3 weeks. The suggested deadline to apply is June 30th for the upcoming fall semester. This should allow enough time for the loan to be certified (if approved) and to appear on the fall billing statement.

Collective Private Loan Bargaining – Introducing Juno

Juno was founded by two graduate students who were looking for better student loan interest rates than were available. The founders created a business plan to organize students from other institutions into a larger group, to collectively bargain for a better private loan interest rate. Interested graduate students may submit an application through Juno and will be notified of the interest rate and terms. Students have the opportunity to accept or decline the offer and should compare the rate to other private lender products. Juno is not a lender; they negotiate on behalf of students for a better rate. For more information review the Juno website. Xavier University does not endorse or recommend Juno but rather provides information for students to make an informed decision. Students may choose any lender.

Nurse Education Assistance Loan Program (NEALP)

The Nurse Education Assistance Loan Program (NEALP) provides financial assistance to Ohio residents enrolled for at least half-time study (or accepted for enrollment) in an approved Ohio nurse education program. NEALP provides funding for nurses who intend to serve as instructors or students who intend to serve as nurses after graduation. Applicants will be offered NEALP funding based on FAFSA data and the NEALP application. Applicants who demonstrate the highest level of need will be funded first. The application period is January 1 to July 15th of each year. Visit the NEALP website for more information.

The Nurse Education Assistance Loan Program Information for Future Nurses

The annual loan amount for the 2024-2025 academic year is $1,800/year. Loans may be granted for a maximum of twelve quarters or eight semesters or the equivalent. A recipient who serves as a full-time nurse in Ohio for five years will qualify for 100% NEALP cancellation.

The Nurse Education Assistance Loan Program Information for Future Nurse Instructors

The annual loan amount for the 2024-2025 academic year is $7,000/year. Loans may be granted for a maximum of twelve quarters or eight semesters or the equivalent. The total aggregate loan amount shall not exceed $30,000. After graduation, the NEALP recipient must serve as a nurse faculty member in Ohio for a minimum of four years to qualify for 100% NEALP cancellation.

Code of Conduct

Xavier University is committed to providing the best possible customer service to our students and their families. It is our goal to provide information and advice, in keeping with federal requirements, which is determined by consideration of the best interests of our students and their parents. To ensure that students and their families continue receiving impartial advice from the financial aid personnel, and to avoid the potential for, or appearance of, conflicts of interest regarding student loans, Xavier University shall abide by a Code of Conduct in its relationships with lenders, guarantors and servicers of education loans.

Xavier University's Financial Aid Code of Conduct