The Center for Graduate Studies & Continuing Education
Funding Your Graduate EducationFederal Student Loans
LIM College is approved by the U.S. Department of Education to award Federal Direct Stafford loan funds at the graduate level. To determine your eligibility, please complete the Free Application for Federal Student Aid (FAFSA) online as soon as possible. LIM College's federal school code is 007466. Be sure to read the application instructions thoroughly before completing the application.
Accepted matriculated graduate students enrolled at least half-time (6 credits per term) are eligible for loans under this program. Applicants with financial need are eligible for a Unsubsidized student loan. Please note that interest on Unsubsidized loans accrues while the student is in school.
These funds are borrowed directly from the federal government, not through private lenders.
Graduate students can borrow Federal loans up to $20,500 per year in Unsubsidized Direct Loans, with a total borrowing limit not to exceed $138,500 (including undergraduate federal loans).
Grad PLUS loan
Graduate students who need to borrow more than the maximum Unsubsidized loan amounts to meet educations costs that are not covered by other financial aid may apply for the Graduate PLUS loan.
Students who are enrolled at least half-time may be eligible for a Federal Direct Plus Loan. These loans are based on creditworthiness. Students may apply for the Graduate PLUS loan through the Department of Education's website. Grad PLUS loan borrowers have the option of beginning repayment 60 days after the loan is fully disbursed or delaying repayment (with interest accruing) for a period of time that includes up until six months after the student graduates or ceases to be enrolled at least half-time.
Private/Alternative Education Loans
Students can apply for credit-based private education loans to finance their education. Depending on your credit history, you may need a co-signer for approval. To determine which lenders offer the best terms and conditions for you, we recommend that you utilize mainstream internet resources to search for and review lenders. The Office of Student Financial Services will certify a loan through any lender if you meet that lender’s eligibility criteria.