The W is committed to reducing the debt burden of its students. There are many options for helping fund your education, so we encourage you to research all your options. We also encourage families to borrow only when absolutely necessary, and then only to extent that is needed.

Other Financial Aid Options

Learn more about financial aid options other than loans:
Scholarships Grants Work-Study

Serious and deliberate consideration should be given to making any borrowing decision.

Federal Loan Options

Direct Subsidized Loan

For undergraduate students; U.S. Department of Education pays interest while borrower is in school and during grace and deferment periods; student must be attending at least half-time and have financial need.

Annual Amount: $3,500–$5,500, depending on grade level.

Additional Details and Interest Rate: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

Direct Unsubsidized Loan

For undergraduate and graduate students; borrower is responsible for all interest; student must be enrolled at least half-time; financial need is not required.

Annual Amount: $5,500–$20,500 (less any subsidized amounts received for same period), depending on grade level and dependency status.

Additional Details and Interest Rate: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

Direct PLUS Loan

For parents of dependent undergraduate students and for graduate and professional students; student must be enrolled at least half-time; financial need is not required.

Unsubsidized: Borrower is responsible for all interest.

Annual Amount: Maximum amount is cost of attendance minus any other financial aid student receives; no minimum amount.

Additional Details and Interest Rate: https://studentaid.gov/understand-aid/types/loans/plus

Private Alternative Loans

What is an Alternative Loan?

• Alternative loans are credit-based loans offered by private lenders and are not part of the Federal Direct Loan Program.
• They are considered a financial aid resource to help with educational expenses and may reduce the type and amount of other aid you may receive.
• They often have terms and conditions that are different than those of the Federal Direct Loan Program

Why apply for an Alternative Loan?

Some reasons you may want to apply for an alternative loan include:

• You are ineligible for federal loans because you met or exceeded federal loan limits
• You are eligible for federal loan, but have educational expenses not fully covered by your federal aid
• You are not meeting Satisfactory Academic Progress standards

How do I apply for an Alternative Loan?

Most lenders offer the choice of applying on-line or by telephone. Once you select a lender and meet the lender’s eligibility requirements, the lender will contact the Office of Financial Aid directly for the school certification (i.e., verification that you are eligible for the loan). Loan processing can take several weeks, so please plan accordingly.

MUW does not provide a preferred lender list for alternative loans.

Your loan eligibility is based on your Cost of Attendance (COA) minus any other awarded financial aid.

MUW cannot certify your loan amount above your maximum eligibility.

Can I use my Alternative Loan to defer payment of my bill at The W?

If the Office of Financial Aid receives an approved certification request from your lender prior to the payment deadline set by University Accounting, your alternative loan may defer (i.e., count as a credit) your bill. Please be aware that “pre-approval” is not the same as final approval; because once the lender receives the school certification record, the loan could still be denied by the lender. Please be sure to confirm your credit history and/or co-signer in a timely manner.