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University Loan

The University Loan is for undergraduate students and offers a 6 percent fixed, low-interest loan with zero origination fees.

Eligibility

To be eligible for the University Loan, undergraduate students must:

Due to limited funding, not all students who are eligible will receive this award. Students who are awarded a University loan are not automatically awarded in subsequent years.

How to apply

You will be automatically considered for a University loan if you submit the Free Application for Federal Student Aid (FAFSA).

How to accept your loan

You need to accept your loan via your LionPATH Student Center.

First-time University loan borrowers will also need to complete loan disclosures and sign a Master Promissory Note (MPN). An email invitation with instructions on how to complete these requirements will be emailed to you from ECSI, a third-party loan servicer, mid- to late-July. Monitor your email account, including your junk folder.

The University loan will appear as a credit on your tuition bill after you have completed all of the requirements.

How to repay or defer payments

Repayment begins after your nine-month grace period. The grace period will begin any time you are not enrolled at least half-time (with the exception of summer). For most students, the grace period begins after graduation.

If you cannot make payments on your loan after the nine-month grace period, you may be able to postpone repayment by pursuing deferment or forbearance. For more information, visit Student Financial Services.


Penn State Federal School Code

003329

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