Carlow offers guidance in financing graduate educational expenses with student loans. Your eligibility for federal loans is determined by filling out the FAFSA (Free Application for Federal Student Aid).

Federal Direct Unsubsidized Loan

  • First-time borrowers must complete two forms for this loan: Master Promissory Note and Entrance Counseling.
  • Interest accrues upon first disbursement of a Federal Direct Unsubsidized Loan.
  • Current interest rates.
  • Federal Direct Unsubsidized Loans are in deferment while students attend school on at least a half-time basis.
  • There is no penalty for making payments early or ahead of schedule.
  • There is a six-month grace period on the loan after the student stops attending on at least a half-time basis. 

Graduate PLUS Loan

  • Similar to the Parent PLUS loan, this is a credit-based federal loan with a fixed interest rate. 
  • Current interest rates.
  • Interest accrues upon first disbursement of a Graduate PLUS Loan, and repayment begins immediately unless you request deferment from your loan servicer.
  • There is no penalty for making payments early or ahead of schedule.
  • The Graduate PLUS loan is only available to graduate students. 
  • The student must complete the following forms if planning to borrow a Graduate PLUS loan: Application and Master Promissory Note

Alternative Loan

  • Students may borrow private loans from any lender. For convenience, a list of lenders most often used by Carlow students can be found at
  • Some lenders require the student to have a credit-worthy cosigner. Policies regarding eligibility, interest rates, repayment provisions, and other concerns may vary by lender. As with any loan, please be sure you understand the details before you borrow.

Additional Student Loan Resources

Personal Finance Resources

  • Review your credit reports. The Fair Credit Reporting Act (FCRA) requires the three nationwide credit reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report once every 12 months at your request. You can make this request at or by calling 1-877-322-8228.

Learn more about budgeting wisely and improve your financial literacy by visiting:


Federal Direct Student Loan

Lifetime limit for dependent undergraduates

Lifetime limit for independent undergraduates

Lifetime limit for dependent undergraduates with Parent PLUS denials

Lifetime limit for graduate students; includes loans borrowed as an undergraduate

Track your federal loans & grants at the U.S. Department of Education's NSLDS Student Access system. 

 Note: Because of the nature of federal, state, and institutional guidelines affecting financial aid programs, the information contained in this website is subject to change.