Eastern University offers several different loan options to assist students and their families with the cost of higher education.  For more information on each loan program, please click on the links below.   Please also feel free to utilize this brochure.  Students are not required to borrow any loans awarded to them and can decline or reduce them on their my.Eastern.edu account or by emailing our office at finaid@eastern.edu.

Eastern University's Student Lending Code of Conduct   

Official Cohort Default Rates for Schools

Federal Direct Loans
The Federal Direct Loan Program offers low interest loans to students to help pay for their college education.

Federal Direct Parent PLUS Loan
Parents of dependent undergraduate students may apply for the Federal Direct Parent PLUS Loan to help pay their child’s education expenses.

Federal Direct Graduate PLUS Loan
Students pursuing a Master's degree or a Doctorate may apply for the Federal Direct Graduate PLUS Loan to help pay for education expenses.

Private Alternative Loans
Private Alternative Loans are used by students/families after they have exhausted free money and federal aid.  They are offered and underwritten by a bank or credit union and are taken out in the student's name, preferably with a credit-worthy cosigner.

Federal Perkins Loan
The Federal Perkins Loan program is no longer available.  Students who have previously borrowed a Federal Perkins Loan must complete a Perkins Loan Exit Interview prior to graduation or ceasing to be enrolled at least half-time (6 credits).  The Exit Interview is done online through Heartland ECSI.  For more information on repayment of your Perkins Loan, please visit StudentAid.gov and log in with your FSA ID and password.