Loans
A page within Financial Aid
All loans must be repaid. Borrowing only what is needed will reduce the amount that must be repaid. Therefore, we recommend that you only borrow what you need.
Federal Direct Student Loans
UW-La Crosse participates in the William D. Ford Federal Direct Loan Program; with Direct Lending, the lender is the U.S. Department of Education.
- All students who wish to borrow a Federal Direct Loan must complete a Free Application for Federal Student Aid (FAFSA).
- The Financial Aid Office will process the student's FAFSA and send an e-mail notification when the financial aid offer is ready to review and accept in the WINGS student center.
- All first-time Direct Loan borrowers need to complete the federally required Direct Loan Master Promissory Note (MPN) and Entrance Counseling before their loans will be disbursed.
- The interest rate for undergraduate Federal Direct Loans is 6.53% for the 2024-25 academic year (including summer 2024 loans disbursed after June 30). In addition, there is a 1.057% origination fee deducted from the loan before each disbursement. The interest rate for Graduate Federal Direct Loans (Unsubsidized) is 8.08% for the 2024-25 academic year(including summer 2024 loans disbursed after June 30).
- 2025-26 interest rates for loans first disbursed July 1, 2025 - June 30, 2026 will be announced in June 2025.
- The federal government pays the interest on Federal Direct Subsidized Loans until the student falls below half-time enrollment and during the six month grace period. The interest on Federal Direct Unsubsidized Loans begins accruing once the loan is disbursed. Both loans go into repayment six months after the student is no longer enrolled at least half-time.
Federal Direct Parent PLUS Loans
- Federal Direct Parent PLUS Loans provides an option for parents of dependent students attending post-secondary schools.
- The federal Direct Parent PLUS Loan has an interest rate of 9.08% for the 2024-25 academic year (including summer 2024 loans that disburse after June 30th) and allows a parent to fund up to the entire cost of their student's education minus financial aid already offered and accepted. In addition, there is a 4.228% origination fee deducted from the loan before each disbursement.
- The PLUS interest rate for the 2025-26 aid year will be announced in June 2025.
- Parents must complete a Master Promissory Note (MPN) in order for this loan to disburse.
- Eligibility is based on credit worthiness of the parent. Parents and/or step-parents of dependent undergraduate students are eligible to apply for a Federal Parent PLUS Loan on behalf of the student.
- To apply, go to our Federal Direct Parent PLUS Loan page.
Private parent or student loans
- Students who need additional funds for education, beyond what was awarded on their financial aid offer, might consider a private student loan.
- Parents of students who need additional funds for education, might consider a private parent loan.
- These are private parent or students loans from a lender and are not guaranteed by the federal government.
- Approval of a private parent or student 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 a private student loan.
- To apply, go to our Private student loans page.
