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Southern Methodist University • Enrollment Services • Financial Aid • Loans
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SMU as well as
various other educational financing partners offer you several loan
options featuring low interest rates and long-term payments. It is
important to remember that all loans must be repaid.
SMU knows you may need financial assistance to
complete your education. You and your parents must make informed
decisions about borrowing money. This guide will provide information
about the Federal Stafford, Federal Parent PLUS and the Federal
Graduate PLUS loan programs along with additional information for
borrowing from a private or alternative educational loan source and
post graduation consolidation. Loan details and applications are
included.
SMU encourages students to maximize your borrowing by
using all federal loan options before borrowing from
private/alternative loan sources.
Southern Methodist University uses an extensive survey to
collect qualified data yearly from lenders that determines their
inclusion on SMU’s lender lists. Each lender is rated based on
customer service to the students and SMU along with students’
repayment and borrower benefits, lender default rates, electronic
loan processing, and variety of loan products. All SMU lender lists
include comparative information with regard to interest rates and
eligibility for borrower benefits including links to lenders web
pages for further investigation.
Questions about the Lender List survey can be directed to the
SMU Financial Aid Loan & Grants area. Please contact
enrol_serv@smu.edu for more
information.
SMU encourages all
students to investigate a lender before making a choice to borrow
from them.
An SMU student is never
required to use only the lenders on our lender lists. SMU will
certify a loan with any lender of your choice. SMU does not accept
any financial benefits from lenders.
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Undergraduate Loans
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Graduate &
Professional Loans
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If you are
graduating and entering repayment on your Federal
Stafford and/or Perkins loans, or if you have already
entered into repayment, a Consolidation Loan can help
ease the burden of loan payments. Loan consolidation
provides many positive benefits such as low fixed
interest rates, a longer repayment period, and a single
monthly payment to one lender. These benefits often
allow recent graduates to begin paying off their loans
without placing an undo burden on their entry into the
job market. However, depending on your specific
circumstances, a consolidation loan may or may not be
right for you.
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Helpful Financial Counseling and Literacy Websites:
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Helpful Financial Counseling and Literacy Websites:
Professionals
suggest a recent college graduate should not have a loan
repayment that exceeds 10-15% of a starting monthly
income after graduation. |
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