Borrow Only What You Need
Your student loan payments should only be a small percentage of your salary after you graduate.
Consider scholarships, grants, and student employment first, and then decide what you need to borrow. Exhaust all other options for aid before pursuing loans, and borrow only what you need.
What is a loan?
- Borrowed funds that must be repaid with interest
- Available through federal, institutional, and private programs
- Repayment typically begins after leaving school or dropping below half-time enrollment
- Loan amounts are limited by the cost of attendance and other aid
Repayment Terms
Loans are repaid over time, often beginning after graduation or when enrollment drops below half-time. Some loans include a grace period before repayment begins.
Eligibility and Limits
Loan amounts are limited by the cost of attendance and other financial aid. Continued eligibility requires satisfactory academic progress.
Types of Loans
Loans are available through several programs, each with different terms and requirements. Details including interest rates, terms, and eligibility are outlined below.
Federal Loans
Federal loan borrowers must be U.S. citizens or eligible non-citizens.
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Fixed interest rate of 6.52% (subject to change) for loans disbursed on or after July 1, 2026.
The U.S. federal government subsidizes the loan, meaning it pays the interest while you are enrolled in school.
You must apply annually by completing a FAFSA application and demonstrate financial need.
Trinity determines whether you are eligible and originates the loan application.
The loan has a 1.057% (subject to change) origination fee, which is taken from the loan at the time of each disbursement.
Available to undergraduate students enrolled at least half-time (6 hours).
Repayment of principal and interest begins 6 months after you graduate or you are no longer enrolled at least half-time.
You have up to 10 years for repayment of this loan.
This loan may be consolidated with other federal education loans.
Students borrowing under the Federal Direct Loans program for the first time with Trinity are required to complete both Entrance Counseling and a Master Promissory Note online at studentaid.gov.
Rates will continue to change annually for new loans made on or after July 1 of each year based on federal legislation.
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Fixed interest rate of 6.52% (subject to change) for undergraduate level students and 8.07% (subject to change) for graduate level students for loans disbursed on or after July 1, 2026.
The loan continues to accrue interest while you are enrolled in school as well as during deferment periods.
You must apply annually by completing a FAFSA application.
Trinity determines whether you are eligible and originates the loan application.
The loan has a 1.057% (subject to change) origination fee, which is taken from the loan at the time of each disbursement.
Available to undergraduate and graduate students enrolled at least half-time (6 hours for undergraduate students; 3 or more hours for graduate students).
Repayment of principal and interest begins 6 months after you graduate or you are no longer enrolled at least half-time.
You have up to 10 years for repayment of this loan.
This loan may be consolidated with other federal education loans.
Students borrowing under the Federal Direct Loan program for the first time with Trinity are required to complete both Entrance Counseling and a Master Promissory Note online at studentaid.gov.
Rates will continue to change annually for new loans made on or after July 1 of each year based on federal legislation.
Independent students who are not eligible for a full subsidized federal loan may borrow their remaining subsidized eligibility under the unsubsidized program.
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Parents of dependent undergraduate students can borrow the Parent PLUS Loan to help their student pay for college:
- Beginning with the Fall 2026 semester, new parent borrowers Federal PLUS loan annual limits are capped at $20,000 for the academic year, with a lifetime max of $65,000 per student.
- Previous parent borrowers that have borrowed for a continuing student at Trinity can borrow up to the student's cost of attendance minus any other financial assistance being received by the student.The interest rate is fixed at 9.07% (subject to change) and the borrower must not be in default on a federal loan. PLUS loans have an origination fee of 4.228% at the time of each disbursement. Repayment of the loan begins sixty days after the loan is fully disbursed; however, parents may defer repayment until six months after their student graduates or is no longer enrolled at least half-time. A parent has up to ten years to repay.
Ready to Accept Your Federal Loans?
Complete the following requirements online to accept Federal Direct Loans (Subsidized, Unsubsidized, or PLUS):
- Accept your loan eligibility in Financial Aid Self-Service (Subsidized and Unsubsidized loans only).
- Complete Loan Entrance Counseling (for first-time borrowers to Trinity)
- Complete Loan Agreement/Master Promissory Note (for first-time borrowers to Trinity)
Loan Application Instructions (Federal Direct Subsidized-Unsubsidized)
Loan Application Instructions (Federal Direct PLUS Loan for Parents)
Institutional Loans
For detailed information on how to apply for the Walton Perkins and Walton Family Loans, view the Walton Perkins and Walton Family Loan Application Instructions.
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The Walton Perkins Loan is a need-based loan program funded by the University and awarded to students demonstrating significant financial need whose parents’ adjusted gross income is greater than $50,000 a year. Both student borrower and a parent cosigner must complete the requisite promissory note online annually with ECSI, a third-party loan servicer used by the University to handle billing and other services related to administration of the Walton Loan Program. The interest rate is fixed at 5% and it begins to accrue at the time of repayment, six months after the student is no longer enrolled at least half-time at Trinity. Students have up to ten years to repay the Walton Perkins Loan and may defer (i.e. postpone) payments while enrolled in graduate or professional school. Continued eligibility requires completion of the FAFSA, demonstrated need, satisfactory academic progress, and at least full-time enrollment.
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Funded by the University, the Walton Family Loan is available to help meet educational costs for students whose parents' adjusted gross income is $50,000 or more. Funding is limited and eligibility must be confirmed by Student Financial Services. Both the student and a parent cosigner must complete an online promissory note each year to secure the loan funding offered. The interest rate for the Walton Family Loan is fixed at 5%, and payment on the principal is deferred while the student is enrolled at Trinity. Interest payments, however, must be made monthly. Repayment of the loan principal begins six months after the student leaves Trinity or falls below half-time enrollment. Payments are made over a 10-year period. Students may borrow up to $4,000 per year, not to exceed the cost of attendance minus other financial aid, and up to a maximum of eight semesters of undergraduate study. An annual credit approval may be required for continued receipt of the Walton Family Loan. Continued eligibility requires satisfactory academic progress and at least full-time enrollment.
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Funded by the University, the Walton Parent Loan is available to help meet educational costs for students whose parents' adjusted gross income is $50,000 or more. Funding is limited and eligibility must be confirmed by Student Financial Services. The parent borrower must complete an online promissory note each year to secure the loan funding offered. The interest rate for the Walton Parent Loan is fixed at 5%, and payment on the principal is deferred while the student is enrolled at Trinity. Interest payments, however, must be made monthly. Repayment of the loan principal begins one month after the student leaves Trinity or falls below half-time enrollment. Payments are made over a 10-year period. A maximum of $10,000 may be borrowed per year, not to exceed the cost of attendance minus other financial aid, and up to a maximum of eight semesters of undergraduate study. An annual credit approval may be required for continued receipt of the Walton Parent Loan. Continued eligibility requires that students maintain satisfactory academic progress and at least full-time enrollment.
Private Student Loans
(non-need-based; confirmation of approval by the lender is required)
Private education loans, also known as alternative education loans, help bridge the gap between the actual cost of your education and the limited amount the government allows you to borrow through the federal loan program*. Private loans are offered by private lenders and there are no federal forms to complete.
The following links are tools to assist students with private lending options. ELM Select provides a lender list** and the ability to compare and select the loan that best fits your needs. Credible allows students to compare personalized loans from multiple lenders and offers customized pre-qualifications for each borrower with a soft credit pull. ELM Select and Credible are not lenders, and only offer tools for families to make informed private loan decisions. The links are provided as a courtesy; Trinity does not endorse any lender. Borrowers may select the lender of their choice.
*Federal loans are generally the best options and should be considered first.
**Trinity does not issue an RFI to establish its lender list. Instead, the list includes lenders historically selected by Trinity families for private loan borrowing.
Learn More About Your Options
Understanding how loans work can help you make informed decisions about financing your education.