Graduate Tuition and Financial Aid

The University of Dayton's Office of Financial Aid will determine your eligibility after a careful review of your FAFSA results. The maximum amount that you may borrow will depend on your cost of attendance (COA) because your total financial aid cannot exceed your COA for the year. Students studying at least half-time — 3 hours per term if graduate and 6 hours per term if law — may be eligible to borrow up to the program’s maximum annual limit of $20,500.

For Federal Direct Unsubsidized Loans for graduate students, interest is charged from the date of the first disbursement until the loan is paid in full. Find current rates at studentaid.gov.

The U.S. Department of Education will retain an origination fee on the loan disbursement, which is a percentage of the principal loan amount. Therefore, be sure to account for this when determining the amount to borrow. Find current fees at studentaid.gov.

Repayment begins six (6) months after the borrower’s enrollment ceases due to graduation, ceases due to withdrawal or drops below half-time. The amount of each payment depends on the size of the debt and on the length of the repayment period (usually ten years). You can estimate your repayment using the repayment calculator at studentaid.gov.

As a graduate student, the combined debt you can have outstanding from your Direct Loans is $100,000 per program, or a lifetime limit of $257,500. For legacy borrowers, there is no program limit, however the lifetime limit is $138,500.

As a professional student (J.D. Law program only), the combined debt you can have outstanding from your Direct Loans is $200,000 per program, or a lifetime limit of $257,500. For legacy borrowers, there is no program limit, however the lifetime limit is $138,500.

This debt limit includes any federal Subsidized and/or Unsubsidized Loans received for undergraduate study. Parent PLUS Loans that your parent borrowed are not included in your own aggregate loan limits.

All students borrowing for the first time must complete an on line entrance counseling session. Students who need to fulfill this requirement will be notified by the Office of Financial Aid and it must be completed before the loan funds can be applied to the student’s account.

The Master Promissory Note (MPN) is a legal document which acknowledges, when signed, your promise to repay your loan and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan. All first-time borrowers in the Direct Loan program must complete an MPN.

To complete entrance counseling and/or a Master Promissory Note online, you will use your Federal Student Aid ID (used to file the FAFSA) to log-in at studentaid.gov. In most cases, once you've submitted the MPN and it's been accepted, you won't have to fill out a new MPN for future loans you receive. You can borrow additional Direct Loans on a single MPN for up to 10 years.

Regardless of your borrowing status and in order for your loan to be originated, you must first officially accept your loan offer on Porches or by calling the office. We recommend you do this in a timely manner so the loan appears on your statement of account as anticipated aid. You may also choose to reduce or decline your loan. Only those loans which have been accepted will be originated.

• If you have no prior borrowing history under the Direct Loan program:
  Once your loan has been originated, first-time borrowers will be notified via email to complete the online MPN process, which includes the federally mandated student loan Entrance Counseling session. Once these items are complete, the U.S. Department of Education will disburse the loan funds directly to the university at the start of each term.
• If you have borrowed before under the Direct Loan program but are new to UD:
  Once your loan has been originated, first-time borrowers will be notified via email to complete the federally mandated student loan Entrance Counseling session. Once this is complete, the U.S. Department of Education will disburse the loan funds directly to the university at the start of each term.
• If you have already borrowed under the Direct Loan program while a student at UD:
  Once your loan has been originated, your loan will be authorized for payment and the U.S. Department of Education will disburse the funds directly to the university at the start of each term.

When you sign a promissory note, you are agreeing to repay the loan according to the terms of the note. The note is a binding legal document and states that (except in cases of discharge), you must repay the loan — even if you do not complete your education, aren’t able to get a job after you complete the program, or are dissatisfied with, or don’t receive, the education for which you paid.

If you apply for deferment or forbearance, you still must continue to make payments until you are notified that the request has been granted. If you do not, you may end up in default. You should keep a copy of any request form you submit, and you should document all contacts with the organization that holds your loan.

You must notify the appropriate representative (school, agency, lender) that manages your loan when you graduate, withdraw from school, or drop below half-time status; change your name, address, or social security number; or transfer to another school. Additionally, you must complete Exit Counseling before you leave the school. This counseling session will be completed online and will provide you with important information about your loan and repayment responsibilities.

To be eligible to apply for a Graduate PLUS Loan, all of the following criteria must be met:

• Be a legacy borrower: any student who has borrowed any federal loan for the same program prior to July 1, 2026.
• Be enrolled in the same graduate program for up to three academic years but no longer than the expected time to credential.
• Do not cease enrollment after July 1, 2026.
• Be in a degree seeking program and enrolled at least half-time (3 credit hours for graduate students and 6 credit hours for law students).
• Not have an adverse credit history (credit check will be performed). If the borrower (student) does not pass the credit check, they may still receive a loan if someone (such as a relative or friend who is able to pass the credit check) agrees to endorse the loan. The endorser promises to repay the loan if the student fails to do so.
• Be a U.S. citizen or eligible noncitizen.
• Must not be in default on any federal education loans, or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the federal student aid programs.
• Have FAFSA results sent to the University of Dayton. For most programs, summer term is used as a 'trailer' to the academic year so uses the current aid year FAFSA results.

The U.S. Department of Education must have a valid Master Promissory Note (MPN) on file in order to disburse the loan funds to the university. The MPN is a legal document in which the borrower promises to repay the loan and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of the loan. In most cases, the MPN can be used to disburse approved loans during the student’s entire graduate enrollment, although the borrower must complete a Loan Request for each school year.

The maximum PLUS loan amount a student can borrow is the cost of attendance (determined by the school) minus any other financial assistance received. There is no aggregate limit of borrowing for the PLUS loan.

PLUS Loans have a fixed interest rate. Interest is charged from the date of the first disbursement until the loan is paid in full. Find current rates at studentaid.gov.

The U.S. Department of Education will retain an origination fee on the loan disbursement, which is a percentage of the principal loan amount. Therefore, be sure to account for this when determining the amount to borrow. Find current fees at studentaid.gov.

The U.S. Department of Education will send the loan funds directly to the University of Dayton. Loans approved for the academic year will be disbursed into equal amounts based on expected terms of enrollment at the beginning of each semester following federal regulations. The school will use the loan funds first to pay the student's tuition, fees, and other school charges. If any loan funds remain, the student will receive the amount as a refund. Any remaining loan funds must be used for the student's education expenses.

Students that receive a Direct PLUS Loan as a graduate or professional student are not required to make any payments while enrolled in school at least half-time, and for an additional six months after the student graduates, leaves school, or drops below half-time enrollment. During any period when the student is not required to make payments, interest will accrue on the loan. Students may choose to pay the accrued interest or allow the interest to be capitalized (added to the loan principal balance) when they have to start making payments. The federal loan servicer will notify the student when first payment is due.

A PLUS loan request should not be completed for the upcoming academic year until mid-May. If you plan to use the loan for the full academic year, we encourage you to apply for the full year loan period (August – August) upon initial request. Adjustments can always be made during the loan period if needed. Be sure to select the correct award year when completing the request.

The student will receive an email directing them to view their aid eligibility via the student portal Porches. In order for the Office of Financial Aid to be able to certify the loan, the student must be registered for the initial term of the loan period.

Steps to apply for the loan:

1. Student should review the financial aid award and decide how much of the Graduate PLUS Loan eligibility they will need to cover all charges/expenses.
2. Student will sign in to the U.S. Department of Education’s student loan website using their Federal Student Aid ID (studentaid.gov).
3. Once logged in, you may be asked to review your account information and accept terms.
4. At the top of the page, select ‘Apply for Aid,’ then select ‘Apply for a Graduate PLUS Loan.’
5. Select ‘Start’ under ‘Apply for a PLUS Loan.'
6. Select the correct aid year and complete each section accurately, then submit the request.
7. If approved, the student will need to complete the ‘Master Promissory Note’ (MPN) and the ‘Entrance Counseling’ (only if student is a first time borrower or requires the use of an endorser) before funds can be disbursed to the student’s account.
8. If denied, the student can choose to appeal the decision or seek an endorser. Those options are handled on the studentaid.gov site.