More Financial Options
Loans must be repaid after you graduate or leave DeVry. You, and your parents, have several loan programs to consider.
In addition to completing the FAFSA, there are three steps that must be completed when applying for a Federal Stafford or PLUS loan:
- Select a lender
- Sign a Master Promissory Note (MPN)
- Complete the Loan Entrance Quiz
DeVry's Recommended Financial Service Providers
There are hundreds of lenders participating in the Federal Stafford and PLUS programs. DeVry University respects a student's right to select a lender and will process all applications without bias.
There are many reasons why students choose to work with a particular lender, including; previous experience, other financial relationships, combined servicing with other loans, better terms or the recommendation of friends or the school. DeVry works with hundreds of lenders each year and will honor a student's request to use the lender of their choice.
DeVry does provide a list of recommended financial service providers students unsure of whom to use. Lenders appearing on this list were selected from responses to a DeVry-issued Request for Proposals. All have demonstrated the ability to quickly and reliably deliver student loan funds. Additionally, the recommended providers were selected based on their commitment to:
- Timely and accurately deliver student loan funds (this included an assessment of prior performance)
- Lifetime servicing of your student loan
- Develop and deliver financial literacy information and materials for DeVry students,
- Provide supplemental assistance (Private Loans) to students needing additional funding to meet their educational expenses,
- Reduce the costs of student borrowing,
Selecting Your Lender
To select a lender, all you have to do is notify your student finance advisor of the lender you wish to work with or provide a lender code in the award information on your financial aid award at my.devry.edu. For more information on participating lenders, visit Finaid.Org. If you would like to work with one of our preferred lenders, simply click on one of the links below.
Federal Student and Parent Loans
The U.S. Department of Education provides various loan programs to students and their parents. These are low-interest loans which must be repaid.
In the Federal Family Education Loan Program (FFELP) students and parents can borrow from private lenders, such as a bank, credit union or student loan company. Loans are available to students in the Federal Stafford Loan program, while graduate students or parents of dependent undergraduate students can borrow from the PLUS Loan program.
For the Federal Perkins Loan, undergraduate students may borrow directly from DeVry University For more information on these programs, visit http://finance.devry.edu/home.html.
Private Student Loan Programs
Private sources of loan funds are available to help pay for educational expenses, beyond the resources of federal and state financial aid. These are unsecured (no collateral required) bank loans with competitive interest rates. Usually students must be enrolled at least half-time to qualify.
Most lenders will perform a credit check and determine credit worthiness (income, employment, residency, etc.) before granting these loans. For more information on specific private loan programs contact your lender.
Click here to review the Private Loan Chart
DeVry University's EDUCARD® Program for Undergraduate Students
EDUCARD is DeVry's interest-bearing installment loan program available to DeVry undergraduate students as a source for paying tuition, books and any required electronic materials.
Under the EDUCARD Plan, an affordable monthly installment payment plan is worked out to accommodate individual family circumstances as reflected in the FAFSA. EDUCARD participation requires students to apply for financial aid and to use funds received to first repay the EDUCARD balance.
