Other Loan Options

The Financial Aid Office recommends that students first apply for financial aid by filing the Free Application for Federal Student Aid (FAFSA). Filing the FAFSA will automatically allow students to be considered for federal student loans.

We suggest that students utilize all of their federal loan options before pursuing a private educational loan.

Private Loans

Private loans are designed specifically for students and offer competitive variable or fixed rates. Loan approval is based on a student’s overall credit profile. A co-signer is recommended and may be required.

Federal Parent PLUS Loan

Federal Direct PLUS Loans are available to parents who want to borrow funds on behalf of their dependent child to pay for undergraduate education expenses. The student must be enrolled for six or more credits each semester.

Compare the Differences

The decision of whether or not to borrow additional loans and which program to use is a difficult one for some families. Before making the decision, the Undergraduate Financial Aid Office encourages families to consider the differences between private loans and the Federal Direct PLUS Loan.

St. Thomas Payment Plans

The University of St. Thomas does not require student accounts to be paid in full prior to the start of classes each term. In fact, the first payments for each term are not due until well after classes have started. Learn more about the option to pay monthly installments toward your bill.