Loans

Eligibility

U.S. citizens, U.S. permanent residents, and eligible non-citizens enrolled at least half-time in one of our degree seeking programs are eligible for both federal and private education loans.

International students are eligible for U.S. private loans. You may also be able to receive education loans from your home country.

U.S. Federal Loans

Below is a list of the types of loans you may be eligible for at the Middlebury Institute:

Federal Direct Loans

• Direct Unsubsidized loans for graduate students

• Direct Subsidized or Direct Unsubsidized loans for undergraduate students

• Interest rates are fixed until paid in full, but rates are variable for new loans each academic year (review loan interest rates)

• Interest accrues on the Direct Unsubsidized loan at the time of disbursement

• Payments deferred while enrolled at least half-time

• Six-month grace period after student graduates, withdraws, or drops below half-time before loan payments begin (review repayment plan options)

• Origination fee withheld from your loan prior to disbursement by the Department of Education for insurance and administrative fees (review origination fees)

• Maximum award of $20,500 per academic year for Direct Unsubsidized loans for graduate students, and $5500 each year for undergraduate students eligible for the Direct Subsidized loan

Graduate PLUS Loans

• Unsubsidized loans for graduate students demonstrating creditworthiness

• Interest rates are fixed until paid in full, but rates are variable for new loans each academic year (review loan interest rates)

• Interest accrues at the time of disbursement

• Payments deferred while enrolled at least half-time

• Six-month grace period after student graduates, withdraws, or drops below half-time before loan payments begin (review repayment plan options)

• Origination fee withheld from your loan prior to disbursement by the Department of Education for insurance and administrative fees (review origination fees)

• Maximum award of up to annual cost of attendance established by the Institute, less other forms of financial aid

Private Loans

Both U.S. and international students are eligible to apply for private education loans. International students may need a U.S. cosigner. If you are attending our language or non-degree programs, you may also apply for private loans.

• U.S. private loans are based on your (or your cosigner’s) credit history

• Fixed or variable interest rate based on your (or your cosigner’s) credit score

• Grace period varies by lender

• Maximum award of up to annual cost of attendance established by the Institute, less other forms of financial aid

• U.S. and international students should consider all government and institutional sources of aid before applying for private loans

Learn more about private loans.

Options for Loan Increases

Laptop Loan

Students who have accepted federal loans may request a one-time increase to their cost of attendance by up to $2,000 for the purchase of a laptop. To request these funds, contact us to complete a Laptop Loan Request Form. Note that you will be required to submit documentation, showing the laptop you intend to purchase, or provide a receipt documenting your purchase, dated within one month of your application for funds.

Cost of Attendance Review

The cost of attendance reported on your financial aid offer is based on the average living expense cost of a cross section of the student population in this area. If your situation is such that you have expenses far above those of the average, contact us to complete a Financial Aid Petition Form. Note that you will be required to submit documentation that supports the additional funds requested for your living expenses. We cannot increase your living expenses for consumer related expenses, such as credit card or car payments and living expenses for a spouse and/or dependents.

How to Apply

Follow these steps to apply for financial aid at the Middlebury Institute.