Loan Information

Federal Perkins Loan

Exit Interviews 
Federal law requires that every student who has obtained a Federal Perkins Loan through Jefferson (Thomas Jefferson Univeristy and Philadelphia University)must have the opportunity for an exit interview before leaving the University. Inforamtion will be sent to you by our loan servicer (ECSI) about provisions for loan repayment and privileges for deferment of payment to the student borrower. 

Federal Direct Stafford Loan

Loans are available to students enrolled for at least six credit hours per semester. You may borrow up to $3,500 per academic year for the freshman year, $4,500 for the sophomore year and $5,500 per academic year for the junior and senior years. The total amount outstanding that you may borrow for undergraduate study is $23,000. The annual interest beginning July 1, 2019 is 4.53%.  The government will pay this interest until six months after you have terminated your studies, or dropped below half-time status, at which time you must begin repayment of the principal and interest. The interest paid towards your Stafford Loan may be deductible from the taxpayer's income.

There may be a 1.062% loan origination fee deducted from the face value of the loan.

Under current regulations, all applicants must pass a “needs test” to qualify for this loan. A Free Application for Federal Student Aid must be filed prior to certification of a loan application by the school. You must maintain satisfactory progress to renew your loan.

Entrance Interviews 
Federal law requires when you borrow through the Federal Stafford Loan program for the first time, you must complete an entrance interview. In addition, when you graduate, withdraw, or enroll less than half-time, you must complete an exit interview. The entrance counseling sessions can be done on-line at

Exit Interviews
The exit counseling session can be done at

Unsubsidized Federal Stafford Loan

The Unsubsidized Federal Stafford Loan provides students not qualifying for all or part of the Federal Stafford Loan due to need restrictions the opportunity to borrow a low interest loan. The annual limits a student can borrow are identical to the Federal Stafford Loan program.

Dependent undergraduate students will be eligible for $2000 unsubsidized loan in addition to the amounts listed above.

The interest rate for the Unsubsidized Stafford Loan for 2019-20 is 4.53%.  The distinguishing feature of the Unsubsidized Federal Stafford Loan is that the interest must be paid by the student, on a quarterly basis, while the student is enrolled in school. The interest paid towards your Unsubsidized Stafford Loan may be deductible from the taxpayer's income. Principal payments start six months after the student leaves school or drops below half-time status. Application procedures are identical to those for a Federal Stafford Loan.

Federal Plus Loans

Parents of dependent undergraduates may borrow up to the student’s cost of attendance minus any estimated financial aid. The annual interest rate for 2019-20 is 7.08%.  The parent must meet certain credit criteria in order to be eligible.  Repayment of principal and interest begins 60 days after the loan is disbursed. Some lenders allow parents to delay payments under a forbearance option.  The interest paid towards your PLUS loan may be deductible from the taxpayers income.

Loan fees of 4.248% will be deducted from the face value of the loan.

Repayment Information

The U.S. Department of Education's National Student Loan Data System (NSLDS) provides information on your federal loans including loan types, disbursed amounts, outstanding principal and interest, and the total amount of all your loans. To access NSLDS, go to

For more information click on the following topic:

Alternative Loans

An alternative loan can help to pay the student’s remaining expenses after financial aid has been applied to the bill. The alternative loans are credit-based and offer flexible repayment options. Alternative loans are to be used to supplement other forms of financial aid. Alternative loans are student loans, with the student listed as the borrower.  Most alternative loans will require that the student also have a credit worthy co-signer in order to be eligible.  Interest rates are variable and are set by the individual lender. 

The lenders on the attached chart are those that Jefferson (Philadelphia University + Thomas Jefferson University) students borrowed with most often in the past three years.  This chart was developed purely as a reference tool for our students. You are free to select any alternative lender of your choice.

Click here to read The Wall Street Journal's article Five Things to Know Before Co-Signing a Student Loan.

Office of Financial Aid

ph: 215.951.2940
Our federal school code is 013549