Educational loans are low interest loans that must be repaid. Many students take advantage of educational loans in combination with other aid sources and financing strategies to make a Trinity education possible. 

Students wishing to include loans as part of their financial aid should complete all application steps prior to the payment due date.

 

 Know Your Options

Loans are available through four primary sources:

  • Federal Lenders
  • State Lenders
  • Institutional Lenders
  • Private Lenders

 Do Your Research

  • Research loans before making a choice of a program to pursue.
  • Exhaust all other options for aid before pursuing loans, and borrow only what you need.
  • Your student loan payments should be only a small percentage of your salary after you graduate.

 Contact Us

Student Financial Services
1-800-TRINITY
studentfinancialservices@trinity.edu

We are here if you have questions about the loans offered to you as a result of submitting the FAFSA and CSS Profile (required only for first-time aid applicants), or if you have questions about additional borrowing options.

 

On this page:
Federal Loans
Institutional Loans
Private Loans

Federal Loans

Federal loan borrowers must be U.S. citizens or eligible non-citizens.

  • Fixed interest rate of 5.50% (subject to change) for loans disbursed on or after July 1, 2023.
  • U.S. Federal Government subsidizes, (pays interest), while you are in enrolled school.
  • You must apply annually (complete 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 the Entrance Counseling, and a Master Promissory Note (MPN) online at https://studentaid.gov.
  • Rates will continue to change annually for new loans made on or after July 1 of each year based on Federal legislation.

How to Apply for a Federal Direct Subsidized Loan

  • Fixed interest rate of 5.50% (subject to change) for undergraduate level students and 7.05% (subject to change) for graduate level students for loans disbursed on or after July 1, 2023.
  • The loan continues to accrue interest while you are enrolled in school as well as during deferment periods.
  • You must apply annually (complete 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; 3 or more hours for Graduate.)
  • 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 (MPN) online at https://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.

How to Apply for a Federal Direct Unsubsidized Loan

Parents of dependent undergraduate students borrow the Parent PLUS Loan to help their children pay for college or career school.  The interest rate is fixed at 8.05%(subject to change) and the borrower must not be in default on a federal loan.  The loan has a 4.228% (subject to change) origination fee, which is taken from the loan at the time of each disbursement. Creditworthy PLUS loan applicants may borrow any amount up to the total cost of attendance (COA) minus any other financial assistance being received by the student. 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.

If you are a dependent student whose parents are ineligible for a Direct PLUS Loan, you may be able to receive additional Direct Unsubsidized Loan funds. 

How to Apply for a PLUS Loan for Parents

Direct GRAD PLUS loans are available to graduate-level students. Although eligibility is not based on financial need or family income, a credit check is required. The interest rate is fixed at 8.05% (subject to change) and the borrower must not be in default on a federal loan. The loan has a 4.228% (subject to change) origination fee, which is taken from the loan at the time of each disbursement. Creditworthy GRAD PLUS loan applicants may borrow any amount up to the total cost of attendance (COA) minus any other financial assistance being received. Repayment of the loan begins sixty days after the loan is fully disbursed; however, borrowers may defer repayment until six months after they graduate or are no longer enrolled at least half-time. A student has up to ten years to repay.

How to Apply for a GRAD PLUS Loan

 

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

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 a 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.

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.

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.

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 PDF.

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 provided are 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.