Loan Programs

LOAN PROGRAMS

Education loans are only one of the many possible sources of funding to cover the cost of your Tuck education.

Eligibility varies for each of these loan programs as do rates, terms of repayment, and annual/aggregate loan maximums. International students can maximize their options by identifying a U.S. cosigner with positive credit history.

Tuck adheres to the Code of Conduct policy as established by the Higher Education Opportunity Act.

Federal Direct Loan Programs

Learn more about federal direct loan programs from the U.S. Department of Education.

Direct Unsubsidized Loan

MBA students who are U.S. citizens or permanent residents qualify for $20,500 per academic year. The U.S. Department of Education is your lender. The interest rate is 8.08% effective July 1, 2024 – June 30, 2025. Congress sets interest rates on federal loans each year. The interest rate becomes fixed for the life of the loan.

Interest accrues upon disbursal and capitalizes upon repayment. There is a 1.057 percent loan origination fee deducted from the principal of the loan at the time of disbursement. Repayment begins six months after graduation. The standard repayment period is 10 years; however, you could have up to 25 years to repay your loan depending upon the repayment plan that you choose.

Direct Graduate Plus Loan

MBA students who are U.S. Citizens or Permanent Residents may qualify for up to the cost of attendance as determined by the school less other financial assistance. You must first apply for your maximum loan eligibility of the Direct Unsubsidized loan before the PLUS can be borrowed. The applicant must not have an adverse credit history. This loan has a fixed interest rate of 9.08% effective July 1, 2024 – June 30, 2025. Congress sets interest rates on federal loans each year. The interest rate becomes fixed for the life of the loan.

Interest accrues upon disbursal and capitalizes upon repayment. There is a 4.228 percent origination fee deducted from the principal of the loan at the time of disbursement. Repayment begins six months after graduation. The standard repayment period is 10 years; however, you could have up to 25 years to repay your loan depending upon the repayment plan that you choose.

Institutional Loans

Dartmouth Educational Loan Fund (DELF)

These are institutional loans and are serviced by Dartmouth College. Loans are available to U.S. citizens, permanent residents, and international citizens. The loans are need-based and the amount is determined by the financial aid office based on a needs analysis. The maximum loan amount is up to $65,000 per academic year. The loans are a variable 9% interest rate which is set by the Dartmouth Loan Governance Committee annually effective July 1. The interest accrues upon disbursement and capitalizes to principal on repayment. There is a three-month grace period prior to repayment. Those interested should contact the financial aid office.

Tuck 5% Loan and Tuck Educational Loan Fund (TELF)

These endowed loan funds are made possible through the generosity of many friends and alums of the school. Loans are available to U.S. citizens, permanent residents, and international citizens with high demonstrated financial need as determined by the financial aid office. Eligibility will be considered as part of the financial aid process, by submitting the International Application for Financial Aid or the FAFSA. The maximum loan amount is $10,000 per academic year. These loans are interest-free while the student is enrolled at Tuck and fixed five percent during the repayment period. There is a three-month grace period prior to repayment.

Private Education Loans

U.S based private education loans are available to U.S. citizens, permanent residents, and international citizens. Some lenders may require a co-signer based on residency or credit requirements. Other private education loan options may be available in non-U.S. countries. If you decide to pursue a private loan, you must apply directly through the lender.

The maximum loan amount you may be eligible to borrow is the cost of attendance less other financial aid received. Each loan requires that Tuck certify the approved loan amount. Loans terms, interest rates, and aggregate lending limits will vary by lender.

Tuck does not have preferred arrangements with any private education lenders. Under federal law, you have the right to borrow from the lender of your choice.

To view a comprehensive list of lenders used by Tuck students, visit ELMSelect.

All rates and terms are subject to change without notice.

Comparing Federal vs. Private Loans

Repayment

Curious how much you will owe after graduation? Below is the estimated monthly repayment for the various loans available to graduate students based on the maximum loan eligibility. Grad PLUS and private educational loans are based upon the assumption that the student is borrowing the full Federal Direct Unsubsidized Loan.

*Interest rate and origination fee for private loans will vary by lender.

Amounts are based on one academic year. If you borrow a similar amount while in your second year of enrollment, you can assume that, at a minimum, the total monthly payment will double since the interest, if applicable, continues to accrue.

Consolidation and Refinance

Consolidation allows a borrower to consolidate multiple loans into one loan for ease of payment. Federal student borrowers can consolidate their federal loans into one loan. The interest rate now becomes a weighted average of all the loans rounded up to the nearest one-eighth of one percent. Learn more about consolidation from the Federal Student Aid Office of the U.S. Department of Education.

Student loan refinancing allows the borrower to take out a new loan to pay off the existing loans. This is done through a private student loan lender. Some lenders will allow borrowers to include both federal and private education loans, typically resulting in a lower interest rate.

Types of Loans Borrowed