Student Loan Options

Admissions & Financial Aid

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Assumption University may provide student loans as part of the total financial aid package. Those student loans are described here.

While loans may be part of your financial aid package, Assumption University may not be able to meet your full need. Visit Financing Options for a variety of loans and payment options that you may pursue, but which are not part of your financial aid package. Students and parents/guardians may discuss these options with our financial aid advisors.

Federal Direct Stafford Loan

Assumption University participates in the William D. Ford Direct Loan Program for all Stafford loans.

Federal loans offer low interest rates for undergraduate students enrolled at least half time in a degree or certificate program. The Federal Direct Stafford Loan program enables students to borrow from, and repay loans directly to the U.S. Department of Education through its servicing centers.

This loan may be subsidized, unsubsidized, or a combination of both. Loan funds are disbursed directly to the University in equal amounts for the designated semester after the add/drop period. The maximum amount of Direct Stafford Loan that a dependent undergraduate student can receive is $31,000, of which $23,000 can be subsidized.

Federal Direct Subsidized Stafford Loan

The Federal Direct Subsidized Stafford Loan is based on financial need, as determined by federal regulations. The federal government pays the interest on the loan while in school. Interest begins accruing after the student graduates, withdraws, or falls below half-time status (6 credits)

Federal Direct Unsubsidized Stafford Loan

The Unsubsidized Stafford Loan is not need based. Interest is accrued and charged to the student from the time of disbursement.

For more information on Federal Direct Loans, current interest rates and origination fees, please visit StudentAid.gov. The loan origination fees are deducted proportionately each time a loan disbursement is made to the student’s account.

Repayment

There is a six-month grace period prior to repayment following graduation, withdrawal, or a drop below half-time status (6 credits).

Annual Loan Totals

The Stafford Subsidized Loan annual amounts listed below may be changed all or part to an Unsubsidized Stafford Loan depending on the student’s financial need as determined each year by the FAFSA information. Annual limits are based on the number of credits earned towards the student’s degree.

Grade LevelSubsidized+Unsubsidized=Annual Loan Total*Annual Loan Amount for students whose parents can’t get PLUS
First Year$3,500 + $2,000 = $5,500$3,500 + $6,000 = $9,500
Sophomore Year$4,500 + $2,000 = $6,500$4,500 + $6,000 = $10,500
Junior Year$5,500 + $2,000 = $7,500$5,500 + $7,000 = $12,500
Senior Year$5,500 + $2,000 = $7,500$5,500 + $7,000 = $12,500

* The subsidized amounts listed above are awarded based on financial need. If the student does not have financial need, this amount will be replaced with an unsubsidized loan.

Cohort Default Rate

The U.S. Department of Education releases official cohort default rates once per year. As defined by the U.S. Department of Education, a cohort default rate is the “percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan Program loans during a particular federal fiscal year, October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.” Please note that these loans include both Federal Direct Subsidized and Unsubsidized Loans, but do not include Federal Direct Parent PLUS or Graduate PLUS Loans.

The most recent data was published by the Department of Education on September 24, 2025. Assumption University’s 2022 Cohort Default Rate is 0%. The National Cohort Default Rate is also 0%.

Please note the following from the U.S. Department of Education about the current Cohort Default Rates on this page: As expected, FY 2022 cohort default rates were significantly impacted by the pause on federal student loan payments that began March 13, 2020 and ended on September 30, 2023. During the pause, borrowers with ED-held student loans were not required to make any payments, and no borrowers with ED-held loans entered default. (https://fsapartners.ed.gov/knowledge-center/library/electronic-announcements/2025-09-22/fy-2022-official-cohort-default-rate-distributed-sept-22-2025#:~:text=(LOANS%2D25%2D08),22%2C%202025&text=On%20Monday%2C%20Sept.,about%20the%20CDR%20appeal%20process.&text=For%20eligible%20domestic%20and%20foreign,Detail%20Report%20(message%20class%20SHCDREOP)

Please refer to the following page for the official cohort default rates for schools:

Official Cohort Default Rate For Schools

Average Student Loan Debt

National Student Loan Debt

Assumption University Average Student Loan Debt Upon Graduation

For More Information about Federal Direct Student Loans

Massachusetts No Interest Loan

The Massachusetts No Interest Loan (NIL) is a need-based loan offered by the Massachusetts Department of Higher Education. To be eligible, you must be a permanent legal resident of Massachusetts and demonstrate financial need (EFC must be less than $15,000).

The University has been given a small allocation of funds from the state, so priority is given to those with a high financial need.

Interest Rate

The interest rate is 0% with a standard repayment term of 10 years.

If you have been awarded NIL, you are required to complete a promissory note and entrance counseling with the Financial Aid Office before funds can be credited to your account. After the loan is disbursed, it will be serviced by ECSI, Inc.

For questions regarding your NIL, contact the Financial Aid advisor or contact ECSI at 1-888-549-3274.

Students Rights and Responsibilities

As a financial aid recipient, you have a right to:

  • Have your eligibility for financial aid be determined in an equitable manner consistent with federal regulations and university policies
  • Be considered for those programs for which you qualify as long as funds are available
  • Receive information about how your financial aid eligibility was determined
  • Obtain full information about financial aid programs and pertinent regulations, policies, and procedures
  • Expect notification of your financial aid offer and any adjustments to it
  • Expect that your financial records, your parents’ financial records, and your financial aid offer information be kept confidential in accordance with the Federal Education Right to Privacy Act
  • Receive information about your student loan debt burden
  • Receive information regarding monthly and total repayment options available as well as debt management strategies

As a financial aid recipient, you are responsible for:

  • Supplying complete and accurate information on which we base your eligibility for aid
  • Using the aid offered for educationally related expenses as defined in the estimated student expenses
  • Completing entrance counseling before you receive your first loan disbursement
  • Reporting additional sources of financial assistance such as scholarships, stipends, and tuition waivers
  • Maintaining the same enrollment level throughout the term
  • Seeing a financial aid counselor if you withdraw from school.
  • Reporting any change in your status, including informing the university and your loan servicer of changes in your name, address, social security number, and graduation date. You must notify your loan servicer if you transfer to another school, withdraw from school, or drop below half-time enrollment in any term
  • Completing exit counseling about loan repayment when you graduate or leave the university
  • Repaying any loan you receive
  • Reporting any portion of grants and scholarships that exceed tuition, fees, books, and supplies as taxable income when filing your tax return