Loans
Students are encouraged to submit the Free Application for Federal Student Aid (FAFSA) to be considered for federal loans, and may freely choose to borrow from any lender of your choice.
You can complete the FAFSA online at www.fafsa.gov. Pepperdine University's school code is 001264. We recommend you to submit FAFSA as soon as possible if you plan to use financial aid to pay for your education. For an easy step-by-step guide on how to complete the FAFSA, click here.
Federal Loans
To apply for financial assistance through the federal government, you will need to be a US citizen or a Permanent Resident (green card holder). More information can be found by visiting Federal Student Aid - Eligibility for Non-U.S. Citizens. Note: DACA and F-1 Visa students are not eligible for federal student aid at the graduate level.
Financial aid applications must be submitted by returning students by May 1 of each year and by prospective students immediately upon application for admission to the University. Financial aid from federal loans should be considered as supplemental to personal resources and not as primary resources.
| No credit check required | Requires credit approval* |
| Six months of grace period | |
| Federal Direct Unsubsidized Loan | Federal Direct Grad PLUS Loan |
|---|---|
| 7.94% fixed interest rate for 2025-26 | 8.94% fixed interest rate for 2025-26 |
| 1.057% origination fee (will change every Oct. 1st) | 4.228% origination fee (will change every Oct. 1st) |
| Annual loan limit of $20,500 | May borrow up to the cost of attendance minus other financial aid |
- Repayment begins six months after the student graduates or drops below half-time enrollment (below 3 units)
- Various repayment terms
- Various repayment options: income-based, income-contingent, pay as you earn
- Public Service Loan Forgiveness Program
- No prepayment penalty
- For detailed information, please visit Federal Student Aid - Loans
*Effective July 1, 2026, only students who meet legacy provisions are eligible to receive this loan.
Private Educational Loans
Private educational loans, also known as alternative education loans, are available to students who need additional funding beyond federal financial aid. These loans are offered by private financial institutions such as banks and credit unions. Eligibility is typically based on credit history, and students may need a creditworthy cosigner to qualify.
Interest Rate Options
Many private lender offer both variable and fixed interest rate options:
- Variable-rate loans
- The interest rate may increase or decrease over time based on market conditions.
- Often start with a lower initial rate than fixed-rate loans.
- Monthly payment amounts may change if the interest rate changes.
- Fixed-rate loans
- The interest rate remains the same for the life of the loan.
- Typically, they have a higher starting rate than variable-rate loans.
- Monthly payment amounts remain consistent.
Choosing a Private Loan
Before selecting a loan, we strongly encourage students to compare options from multiple lenders. Important factors to consider include:
-
Interest rates
- Fees
- Repayment terms and schedules
- Borrower benefits
- The financial stability and reputation of the lender
For additional information and loan comparisons, please visit FASTChoice. FASTChoice is an online tool that provides detailed information about various private loan options, including terms and borrower benefits, to help you make an informed decision.
Important Disclosure
Pepperdine University, College of Health Science does not have preferred lender arrangements with any private loan lenders and cannot recommend a specific lender. You have the right to borrow from the lender of your choice.