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Student loans at Malone University:
Federal, private, and alternative financing options
Navigating the cost of higher education can feel overwhelming, but student loans provide a convenient and accessible way to invest in your future.
At Malone, we offer a variety of loan options—including federal, private, and alternative financing solutions—to help you bridge the gap between tuition costs and available financial aid. Whether you’re a first-time borrower or exploring repayment strategies, our financial aid team is here to guide you through the process, ensuring you find the best option for your needs.
Federal Loans
Federal Direct Stafford Loan – Subsidized and Unsubsidized
Subsidized: Federal Direct Stafford loan eligibility is determined by your FAFSA results; this is a need-based loan. The government pays the interest while the student is in school at least half-time and during a six month grace period after the student leaves school or drops below half-time attendance. Payment of principal is deferred during enrollment and during the grace period.
Annual loan amounts are typically divided equally between each semester enrolled.
Unsubsidized: Federal Direct Stafford loan eligibility is determined by your FAFSA; this is not a need-based loan. The awarded amount is in combination with the subsidized loan if you qualify, and the total is limited to grade status limits (see below). You are responsible for interest accrued while in school. However, interest payments are “capitalized” which means they accrue interest to the principal that you owe. At repayment time, the principal owed will be increased by the interest that has accrued. Future interest payments will be based on both the original principal and any capitalized interest. Payment of principal is deferred during enrollment and during the grace period.
Annual loan amounts are typically divided equally between each semester enrolled.
Grade Status Limits*
| Class/Student Type | No. of Hours | Amount Available |
|---|---|---|
| Freshman | 1-29 | $5,500 – No more than $3,500 of this amount may be in subsidized loans |
| Sophomore | 30-59 | $6,500 – No more than $4,500 of this amount may be in subsidized loans |
| Junior | 60-89 | $7,500 – No more than $5,500 of this amount may be in subsidized loans |
| Senior | 90+ | $7,500 – No more than $5,500 of this amount may be in subsidized loans |
| Graduate | N/A | $20,500 Unsubsidized |
*All maximums may be lower if the educational budget is lower.
Additional unsubsidized Federal Direct Stafford loan funds are available to independent students or students whose parents have been denied a PLUS loan. Annual loan limit is $4,000 for freshman and sophomore grade levels, $5,000 for remaining undergraduate years.
Malone awards Federal Direct Stafford loan, subsidized or unsubsidized, based on eligibility. The new borrower must complete the online Entrance Counseling session and do the online eMPN in order for Malone to receive loan disbursements. For subsequent years’ loan awards, borrowers will receive loan disbursements based on the original eMPN for up to 10 years.
To apply for the Federal Direct Stafford Loan, complete the eMPN and Entrance Counseling for the Direct Stafford/Unsubsidized Stafford Loan.
Federal Direct PLUS Loan (Parent Loan for Undergraduate Students)
Federal Direct Stafford loan eligibility is determined by your FAFSA; this is not a need-based loan. The awarded amount is in combination with the subsidized loan if you qualify, and the total is limited to grade status limits (see below). You are responsible for interest accrued while in school. However, interest payments are “capitalized” which means they accrue interest to the principal that you owe. At repayment time, the principal owed will be increased by the interest that has accrued. Future interest payments will be based on both the original principal and any capitalized interest. Payment of principal is deferred during enrollment and during the grace period.
Annual loan amounts are typically divided equally between each semester enrolled.
The Federal Direct PLUS (Parent Loan for Undergraduate Students) is a non need-based loan. The amount awarded is determined by the cost of education less all other financial aid. Approval of the PLUS is based on parental credit history. The interest rate is fixed at 9.08%. Repayment begins 60 days after the loan is fully disbursed.
To apply for the Federal Direct PLUS, complete the PLUS Loan Request for the Federal Direct PLUS.
Alternative Student Loans
Designed to assist students who need additional educational financing, alternative loans are private bank loans in the student’s name that usually require a cosigner. Loan approval is generally based on creditworthiness and ability to repay. We typically advise careful consideration in determining the amount of alternative loans to borrow in order to keep total loan debt manageable; therefore, we recommend you use this type of loan sparingly after exhausting your Stafford and Plus loan eligibility first.
The interest on alternative loans accrues while the student is in school; however, most lenders offer interest and/or principal deferment options until after graduation or until the student drops to below half time enrollment status.
For more information on alternative loan lenders, programs, and application processes
Learn More
For more information on alternative loan lenders, programs, and application processes: