Financial Aid

Federal Direct Loan Program

Spertus Institute students may qualify for student loans through the Federal Direct Loan Program (officially, the William D. Ford Federal Direct Loan program).

This program allows students to borrow for graduate school through the U.S. Government — specifically through the U.S. Department of Education — with Spertus acting as a certifier and monitor of student eligibility.

To qualify a student must submit a Free Application for Federal Student Aid (FAFSA) form to determine eligibility. The Government may charge fees for loan origination, insurance, or guarantees.

With Direct Lending, repayment of the loan is paid directly to the U.S. Department of Education. This is a change for those students who have had loans previously, as students no longer choose a lender for their Federal Student Loan. Direct Loans still have the same interest rate, annual and aggregate loan limits, and six-month grace period. The difference is in the servicing of the loans.

There are two financial aid loan programs:

  • Stafford Loans (Spertus Institute participates in the Unsubsidized Student Loan Program)
  • GRAD PLUS Loans

To learn about the difference and get answers to questions about the financial aid process, eligibility, and the application process, see Federal Student Aid: Getting Started.


Contact Judith Wood
Finance Coordinator / Financial Aid Administrator

Disclosure: Reporting to the National Student Loan Data System

Students receiving financial aid through the Title IV Federal Student Loan program will have their loan information and enrollment status regularly updated on the National Student Loan Data System.