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Graduate and professional education at Midwestern University requires thoughtful, reliable financial planning. Many students must borrow beyond the federal Direct Unsubsidized Loan to fully cover tuition, fees, books, equipment, and living expenses. The MWU Loan remains one of the University’s most dependable financing options, offering a structured and predictable approach to educational funding.

As federal lending rules change beginning July 1, 2026 — most notably with the introduction of lifetime borrowing caps for graduate and professional students — the role of institutional financing becomes increasingly important. Designed specifically for MWU students, the MWU Loan helps bridge funding gaps when federal aid no longer fully covers the cost of attendance.

A Cost-Effective Alternative to Grad PLUS for Current Students

For students enrolled prior to July 1, 2026, the MWU Loan provides a strong alternative to the .

Lower Interest Rates

Federal Grad PLUS Loans carry higher interest rates than the MWU Loan. Current MWU Loan rates are fixed and include:

• 6.75% for loans first disbursed between March 1, 2025, and January 12, 2026
• 7.00% for loans first disbursed on or after January 13, 2026

Lower fixed rates can significantly reduce total repayment costs for students borrowing across multiple academic years.

No Origination Fees

Grad PLUS Loans include an upfront origination fee deducted from each disbursement. The MWU Loan has no origination fee, ensuring that the full approved amount is applied toward educational expenses.

Together, lower interest rates and the absence of fees generate meaningful long-term savings compared to Grad PLUS.

A Stable Alternative to Private Loans as Federal Limits Take Effect

Beginning July 1, 2026, lifetime federal loan caps will limit how much graduate and professional students can borrow over the course of their education. As a result, many future students will need additional funding to cover remaining costs.

Private student loans are often used to fill this gap, but they frequently present challenges, including:

• Fixed interest rates that may reach double-digit levels
• Variable rates that can increase over time
• Credit standards geared toward established borrowers rather than full-time students
• Loan terms designed primarily for lender profitability

The MWU Loan offers a more stable, student-focused alternative.

Predictable, Fixed Interest Rates

Interest rates are fixed for the life of the loan, protecting borrowers from future rate increases.

No Fees

Loans disburse without origination fees, maximizing the value of each borrowed dollar.

Graduate-Appropriate Eligibility Standards

Students may qualify independently with a minimum credit score of 670 and an established credit history. Students who do not meet independent criteria may still qualify with a creditworthy cosigner—recognizing the realities of graduate education while maintaining responsible lending practices.

Program-Aligned Borrowing Limits

Annual and lifetime borrowing limits are established by academic program, aligning loan availability with realistic educational costs and encouraging responsible borrowing.

Important Considerations

While the MWU Loan offers clear advantages in cost, stability, and predictability, students should also understand its limitations:

• The MWU Loan is not eligible for Public Service Loan Forgiveness (PSLF)
• The MWU Loan is not eligible for federal Income-Driven Repayment (IDR) plans
• Interest begins accruing at disbursement
• Repayment options include standard, graduated, and extended terms, based on total loan balance

These factors should be weighed carefully, particularly for students planning careers in public service or those seeking federal forgiveness options.

A Student-Centered Path Forward

The MWU Loan strengthens Midwestern University’s financial aid framework for both current and future students. For current students, it offers a lower-cost alternative to Grad PLUS Loans. For future students affected by federal borrowing limits, it provides a stable and predictable alternative to private loans.

Most importantly, the MWU Loan reflects Midwestern University’s commitment to accessible, responsible, and student-centered financing — supporting students throughout their education and into their professional careers.