All loans must be repaid. Borrowing only what you need will reduce the amount that must be repaid when you are no longer in school.
Federal Direct Student Loans
UW-La Crosse participates in the Federal Direct Loan Program. With Direct Lending, the lender is the U.S. Department of Education.
- All students who wish to borrow from the Direct Loan Program must complete a Free Application for Federal Student Aid (FAFSA).
- The Financial Aid Office will process your FAFSA application and send you an e-mail notification when your financial aid is ready to review and accept in your WINGS student center.
- All first-time Direct Loan borrowers will need to complete the Direct Loan Master Promissory Note (MPN) and the federally required Entrance Loan Counseling before their Direct Loans will be disbursed.
- You may find the 2016-17 Guide to Your Financial Aid to be very helpful in understanding the Direct Loan process.
- The interest rate for Federal Direct loans for undergraduate students is 3.76% for the 2016-17 academic year. In addition, there is a 1.069% Origination Fee deducted from the loan before it is disbursed.
- The Federal government pays the interest on the Federal Subsidized Loans until the student is out of school six months and begins repayment. The interest on Federal Unsubsidized Loans begins accruing once the loan is disbursed. Both loans go into repayment 6 months after the student is no longer enrolled at least half-time.
Federal Direct Parent PLUS Loans
- The Federal Direct Parent PLUS Loan Program provides loans for parents of dependent students attending post-secondary schools.
- The Direct PLUS Loan is an education loan, with an interest rate of 6.31% for the 2016-17 academic year, that allows a parent to fund up to the entire cost of their student's education minus financial aid already awarded. In addition, there is a 4.276% Origination Fee deducted from the loan before it is disbursed.
- Eligibility is based on credit worthiness of the parent. Parents and/or step parents of dependent undergraduate students are eligible to borrow under the Federal Parent PLUS program.
- To apply, go to our Parent PLUS Loan page.
Federal Perkins Loans
The Federal Perkins loan is available to undergraduate students who are enrolled at least half-time.
- Exceptional need must be shown for these limited funds.
- The school acts as the lender and repayment begins nine months after enrollment ceases at a fixed interest rate of 5%. Students have up to ten years to repay.
- Perkins Entrance Loan Counseling is required for first time borrowers.
- Annual Loan Limit:
Cumulative Loan Limit:
- If you are a teacher serving in a low-income or subject-matter shortage area, it might be possible for you to cancel or defer your Perkins Loans through Teacher Loan Forgiveness.
- ECSI (Educational Computer Services Inc) serves as the servicer for these loans on behalf of the University. For questions on your Perkins Loans, contact them at 1-888-549-3274 or go to their website, www.ecsi.net. Use the School Code VM. Your Social Security Number will serve as your account number.
- Contact ECSI to:
Maintain your contact information (name, address, phone, email, etc)
Sign your Master Promissory Note
Make payments or check your balance
Complete your exit interview
Obtain and process forms for deferment, cancellation, forbearance, disability discharge, etc.
Alternative education loans
- Students who need additional funds for education, beyond what was awarded on their financial aid award letter, might consider an alternative education student loan.
- These loans are private educational loans from a lender and are not guaranteed by the federal government.
- Approval of an alternative loan is based on creditworthiness. Most students will require a co-signer.
- The student should file a Free Application for Federal Student Aid (FAFSA) to determine eligibility for federal and state aid before applying for an alternative education loan.
- To apply, go to our Alternative education loans page.
UW-La Crosse Short Term Loan Program
- For emergency purposes only, UW La Crosse sponsors a short term loan program.
- Short Term Loans can not be used for current balances, dorm deposits or tuition and fees.
- Applicants must: be enrolled full-time, have completed at least one semester at UWL, and be in good academic standing.
- A GPA of 2.00 must be obtained in order to be eligible for this loan.
- Repayment must be made within 60 days of receipt of the loan. This is an interest free loan. The lender is UW-La Crosse Budget and Finance.
- To apply, obtain a Short Term Loan application in the UWL Student Financial Aid Office.
Federal Loan Consolidation
Student Loan Debt to Income Ratio (by Percentage of Monthly Payments) Chart
Managing your loans
Graduating students - manage your loans
Limit What You Borrow
Teacher Loan Forgiveness - Perkins Loans
Teacher Loan Forgiveness - Stafford / Direct Loans
Teacher Cancellation Low Income Directory
Public Service Loan Forgiveness