About Student Loans
All loans must be repaid
When you accept a loan, you are making a commitment to repay that loan on time and in full. Loan counseling and debt management information is provided via entrance counseling prior to the first disbursement of federal student loan funds. Information regarding your rights and responsibilities as a borrower is included on your promissory notes. Borrow wisely.
UWS students are conscientious borrowers
UWS has a very low student loan default rate. View our current cohort default rate. Click “GO” next to Search the Cohort Default Rate Database and enter 012309 as the OPE-ID.
Federal Direct Loans
Direct Loan Entrance Counseling and Master Promissory Note (MPN)
To complete your Direct Loan Entrance Counseling and Master Promissory Note, go to studentloans.gov, and sign in using your FSA ID. You can create or edit your FSA ID here.
Select “Complete Entrance Counseling.” Note that you can add an email address to which correspondence about your loans can be sent.
Select “Complete MPN.” The entire MPN process must be completed in a single session lasting no more than 30 minutes. Be prepared to provide reference information (address, phone, etc.) for two people who have known you for at least three years.
The U.S. Department of Education’s federal student loan program is the William D. Ford Federal Direct Loan (Direct Loan) Program. Under this program, the U.S. Department of Education is your lender. Graduate students are only eligible to receive unsubsidized Stafford loans. For more information, visit studentaid.gov.
Unsubsidized Direct Loans
- Interest accrues throughout the life of the loan
- Origination fee and grace period
Direct Grad PLUS Loans
- Borrower must pass a credit check (co-signer option available for borrowers with adverse credit)
- Six-month deferment by request after graduating or dropping below half-time enrollment status
Direct Grad PLUS Loan Master Promissory Note (MPN)
Grad PLUS loans are available to graduate/professional students.
- Can be borrowed to cover the entire cost of attendance minus any other financial assistance
- Recommended as a last resort only
- Cost and terms are typically less favorable than federal student loans
- Students pursuing a private loan should also submit a Private Loan Self-Certification Form with the UWS financial aid office.
Loan Repayment and Consolidation
Students are encouraged to seek scholarships outside of UWS as well. A number of private organizations offer scholarships, each with unique deadlines, criteria and application processes. www.fastweb.com is a helpful resource to get started on your search for scholarships.
About Federal Work-Study
UWS Code of Conduct
Read Code of Conduct
UWS financial aid staff shall:
- Maintain the highest level of professionalism
- Commit to the highest level of ethical behavior and refrain from conflicts of interest, including but not limited to:
- Contract arrangements with any lender providing financial benefit to the employee or to UWS
- Directing borrowers to particular lenders
- Refusing or intentionally delaying loan certification
- Call center or financial aid office staffing assistance
- Respect the dignity and protect the privacy of students
- Ensure the confidentiality of student records as required under FERPA
- Provide information about available and known financial aid resources based solely on factors pertinent to the student’s best interest
Further, UWS ensures that all financial aid professionals adhere to the following:
- May not accept gifts, meals, travel, or any other non-trivial items from student loan providers in connection with the institution’s loan business
- May not accept, from a lending institution, money, equipment, or printing services or anything of value that may provide or suggest an advantage or grant a preferred status
- May not serve as a member of a lending institution’s advisory board
Other UWS staff and officials in a position to make decisions about or advise students or alumni on student loans will likewise adhere to these obligations.