The majority of students at Life West are financing a portion or all of their chiropractic education. For U.S. students, that process is typically anchored by one of the federal loan programs.
Typically, students utilize a Federal Direct Unsubsidized loan with a low interest rate. These loans have varying repayment deferment options, with interest accruement depending on the specific loan repayment plan.
The second is the Federal Graduate PLUS Loan. Since Federal Direct Unsubsidized loans have a maximum borrowing amount per student, not per degree, the Federal Graduate Plus Loan offers options for students whose undergraduate and Life West education costs combined exceed that limit.
We’ll take a closer look at these two loan options below.
This long-term, low-interest loan is designed to provide additional funds for post-secondary education.
For the Direct Unsubsidized Loan, the interest is the responsibility of the student while in school, during the grace period, and during repayment. The interest may be postponed while in school at least part-time. If the interest is postponed it will be capitalized (added to the principal) only once, at repayment.
Learn more about Federal Direct Unsubsidized Loans eligibility requirements here
The Federal Graduate PLUS loan is a credit based loan available to graduate and professional students.
Credit Requirements: This loan is based on being credit-ready – your income, debt, credit score and assets are not factors for approval; however, negative credits items are grounds for denial (tax lien, charge off, delinquent accounts, etc.). An option is available to obtain a co-signer if the loan is denied.
Learn more about Federal Graduate PLUS loan eligibility requirements here
