Student / Parent Loans

Congratulations on your decision to further your education. A Grand View University education is one of the best investments you can make. Wise borrowing of federal and private loans will enable you to pay the educational and living expenses necessary to accomplish your dream of becoming a college graduate.

There are several loan options available to help students and families. Contact the Financial Aid Office if you have any questions.

Forgivable Loans

Some forgivable loans are available to Iowa residents that meet specific guidelines upon graduation.

Teachers

  • Iowa teacher shortage loan forgiveness program
  • Iowa Student Loan teacher loan forgiveness program
  • Federal teacher loan forgiveness program

Nurses

  • Iowa nursing loan forgiveness program
  • Iowa Student Loan nursing loan forgiveness program
  • Federal (HRSA) Nursing Loan repayment program

Learn More

Federal Student Loans

With federal student loans, you can borrow money for college directly from the government. Learn more about the federal student loan options below.

Federal Direct Subsidized Loan
The Direct Subsidized Loan is available to students with financial need. The loans are funded by the U.S. Department of Education. The interest for a subsidized loan is paid by the government while the student remains enrolled in at least half-time as well as during the first six months after the student leaves school. Students need to start repaying this loan six months after graduation, or if the student drops below half-time enrollment.

Federal Direct Unsubsidized Loan
Federal Direct Loans are students loans that are funded by the U.S Department of Education. The interest rate of the unsubsidized loan and the interest is NOT paid by the federal government while the student is enrolled. The interest accrues from the time the loan is disbursed until it is paid-in-full. Students can pay the interest while in school, or it will be added to the principal balance of the loan when entering repayment. Repayment begins six months after graduation, or after the student drops below half-time enrollment.

Direct Loan Entrance Counseling + MPN
This is a requirement that all first-time direct loan borrowers must complete prior to receiving loan funds. Entrance counseling prepares students for responsible borrowing and proper repayment of their loans. The counseling and master promissory note may be completed online. The master promissory note outlines the terms of the loan.

Private Student Loans

Private education loans are available to help families fill the gap in paying for college. They should never be your primary funding source. Exhaust all of your other options including our no interest payment plan, savings, summer work, work study and outside scholarships before you borrow any type of private education loan.

All of the information provided below is reviewed annually to ensure that the lenders listed continue to adhere to our criteria. Any loan options that no longer adhere to our criteria are removed, and new loan options are added.

You are free to select any lender you choose, including those not presented. If you choose a lender that is not presented, please follow the provided instructions to complete the application process. Application processing will not be delayed unnecessarily if you choose a lender not presented.

Our officials are prohibited from accepting any financial or other benefits in exchange for displaying lenders and loan options in FASTChoice. Prohibited activities include:

  • receiving compensation to serve on any lender board of directors or advisory boards;
  • accepting gifts including trips, meals, and entertainment;
  • allowing lenders to staff our institution's financial aid office;
  • allowing lenders to place our institution's name or logo on any of their products;
  • and owning of lenders' stock (for college officials who make financial decisions for our institution).

Some things to consider before selecting a private loan:

  • Accept all grant, scholarship and federal funding before applying for a private loan.
  • Private loans usually take anywhere between 2-6 weeks to process so begin the process as early as possible.
  • Most loans require a credit-worthy cosigner if the main applicant does not meet all the credit criteria.
  • Only borrow what you will need for the school year
  • Any other questions, please contact the Financial Aid office at (515) 263-2820.

The lenders and loan options presented in FASTChoice are composed of all lenders used by Grand View students within the last 3 years. Grand View believes that the choice of a private loan lender is a decision you must make. You need to weigh the pros and cons of each loan product to find the one that best meets your needs. Some questions to examine when determining what private loan product to choose are:

  • Does the loan require a co-signer?
  • Is there a co-signer release option?
  • How much is the origination fee?
  • How much is the interest rate?
  • When does loan repayment begin?

Your Next Steps
After completing the loan application, your lender may require you to submit income and tax documentation. Federal regulations also require you to view and accept additional disclosures after the loan is approved.

Your loan funds will not be sent to the school and your loan will be canceled if the additional steps listed below are not completed in a timely manner.

  1. View and accept your Approval Disclosure
  2. View your Final Disclosure
  3. Complete a Private Loan Self-Certification Form
Federal Parent Loans

Federal parent loans enable parents to borrow a federal loan to help pay the students education expenses. Parents may borrow up to the cost of attendance minus other financial aid received.

The interest rate is fixed at 7.60% and interest charges begin to accrue at disbursement. Repayment begins within 60 days of disbursement, or the parent can defer repayment for up to six months after the student graduates or drops below half-time enrollment. Apply for the PLUS loan and complete the master promissory. The master promissory note outlines the terms of the loan.

This loan program allows parents of dependent students to borrow up to the amount equal to the cost of attendance minus other financial aid received. The interest rate for July 1, 2018 through June 30, 2019 is fixed at 7.60%, and a 4.264% before October 1, 2018 or 4.248% after October 1, 2018 and before October 1, 2019. Origination fee is withheld from the loan. The Federal Direct PLUS Loan is subject to a credit check. In the case of adverse credit, the borrower may apply with a credit worthy co-signer.

For loans disbursed after July 1, 2008, parents have the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed, or deferring payments until six months after the dependent student ceases to be enrolled at least a half-time. While not required, it is recommended that the borrower makes payments on the interest while the student is still in school. If a parent is denied a Federal Direct PLUS Loan, the student is eligible for additional Federal Direct Unsubsidized Loan.

Parents can apply online and will need to log in with a personal FSA ID and password they used on their student’s FAFSA. For additional questions contact the Financial Aid Office at (515) 263-2820 or 1-800-444-6083, Ext. 2820 or email finaid @ grandview.edu.

Federal Assistance Grants
The U.S. Department of Education awards grants and work-study funds. Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation. Aid also can help pay for other related expenses, such as a computer and dependent care. Students must to complete the Free Application for Federal Student Aid (FAFSA®) form to determine eligibility. And remember, the first F in “FAFSA” stands for “free”—you shouldn’t pay to fill out the FAFSA form!
Federal Pell Grant 
A grant based on exceptional financial need. This grant varies, with a maximum of $5,920 in the 2017-2018 school year.
Federal Supplemental Educational Opportunity Grant (SEOG)
The Federal SEOG program provides financial assistance up to $350 to students who show exceptional financial need and who, normally, are eligible for high levels of Federal Pell Grants. These limited federal funds are dependent on congressional appropriations and are awarded by Grand View in varying amounts. To qualify, you must submit the FAFSA annually by the January 15 priority deadline.
Federal Work Study
A work opportunity up to $1,500 awarded to students who demonstrate financial need.  
Federal TEACH Grant The Federal Teach Grant is awarded to eligible students who agree to serve as full-time teachers at certain schools and to serve within certain high-need fields for at least four academic years within eight years of completing the course of study for which a grant was received. If a grant recipient does not carry out that obligation, the TEACH grant funds received converts to a federal direct unsubsidized Stafford loan that must be repaid with interest from the time the grant was received. To qualify, you must have been admitted into the Education program, have a 3.25 GPA at Grand View, be a junior or senior status, and be pursuing Elementary Education with one or more of these endorsements in a shortage area.

Get Your FAQs Answered

Federal Loan Rates

Federal Direct Parent Plus Loan Federal Direct Loan Subsidized / Unsubsidized
Annual Maximum Cost of attendance minus other aid

First year = $5,500*

Sophomore status = $6,500*

Junior status = $7,500*

Senior status = $7,500*

Grad status = $20,500*

Aggregate or Total Borrowing Limits None

Dependent students = $31,000

Independent students = $57,500

Graduate students = $138,500

Origination Fees

4.264% (expires 10/1/18)

4.248% (starts 10/1/18)

1.066% (expires 10/1/18)

1.062% (starts 10/1/18)

Interest Rate

Fixed at 7% (expires 7/1/18)

Fixed at 7.60% (starts 7/1/18)

Undergraduate Subsidized fixed at 4.45% (expires 7/1/18); fixed at 5.05% (starts 7/1/18) - Govt. pays interest while in school

Undergraduate Unsubsidized fixed at 4.45% (expires 7/1/18); fixed at 5.05% (starts 7/1/18)

Graduate fixed at 6% (expires 7/1/18); fixed at 6.60% (starts 7/1/18)

Grace Period N/A 6 Months (Interest not subsidized during grace period)
Deferment Set Up Contact Loan Servicer Automatic
Repayment Terms 120 Months** 120 Months**
Co-signer Possible None
Parent/Student Loan Parent Loan for undergraduates
Student Loan for graduates
Student Loan
Benefits   0.25% interest rate reduction for automated payments
Additional Requirements
www.studentloans.gov
Master Promissory Note

Master Promissory Note

Entrance Counseling

*Undergraduate independent students or dependent students whose parents are denied a Federal Direct Parent PLUS Loan can borrow additional Unsubsidized Direct Loans in the following amounts: First year $4,000; Sophomore $4,000; Junior $5,000; Senior $5,000

**Other repayment options available. To learn more about loan repayment choices and work out your Federal Loan monthly payments, go here.