Long Term Loans
Health Profession Student Loan
To qualify for assistance under this program a student must demonstrate financial need as determined by the Free Application for Federal Student Aid Form. By Federal law, the maximum loan that may be awarded per academic year is $2,500 plus tuition. The maximum annual award provided at Creighton may range from $10,000 to $25,000. Interested students must complete the FAFSA Form, and, in all cases, parents’ financial aid information must be included regardless of status. No awards may be made to a student under this program unless parents’ information is provided. The loan is repayable over a ten-year period, which begins one year after the student ceases to pursue a full-time course of study. The loan carries an interest rate of five percent which does not start to accrue on the principal until repayment commences.
There are several deferment and forbearance options that are explained in detail on the promissory note.
Federal Direct Unsubsidized Student Loan
The Federal Direct Unsubsidized Student Loan is a long-term loan students borrow through the U.S. Department of Education. All applicants must file a FAFSA before eligibility can be determined. A student’s maximum eligibility will be indicated on their award notification. For borrowers that have started their program prior to July 1, 2026 the lifetime aggregate amount which may be borrowed under the Federal Direct Subsidized and Unsubsidized Loan and/or the Federal Stafford Loan Program is $224,000, including any undergraduate borrowed amounts. For new program borrowers that start their program after July 1, 2026 the lifetime aggregate amount The aggregate limit is capped at $100,000 for graduate students and $200,000 for professional students, and does not include amounts borrowed as an undergraduate. The annual aggregate limit is $20,500 for graduate students or $50,000 professional program students, and subject to fulltime enrollment and other aid received. Accrued interest will be added to the principal balance at graduation or whenever a student is enrolled less than half time.
There will be an origination fee deducted from each disbursement, which will be indicated on the promissory note. Interest begins to accrue at the time of each disbursement. Repayment begins six months after a student graduates, leaves school or drops below half-time enrollment.
Instructions to complete the Master Promissory Note (MPN) and online entrance counseling will be included with the aid offer notification email. Please review the information on the promissory note for deferment and forbearance options.
Federal Direct Grad Plus Loan
Graduate and professional students can borrow through the Federal Direct Grad PLUS program if they are a borrower has a Federal Direct Loan made before July 1, 2026, while enrolled in a program of study, the borrower can continue to borrow from the program for 3 academic years or the remainder of their expected time to credential, whichever is less. Students can borrow up to the maximum of the cost of attendance less other financial aid. If a student falls under full-time enrollment, their eligibility will go down.
The Grad PLUS loan is a credit based loan. If a student accepts the Grad PLUS loan as part of their aid offer, they give the University the approval to originate the loan, which also includes a credit check on the student, which is needed to determine eligibility. That credit check is good for 180 days.
The Federal Direct Grad PLUS Loan accrues interest during enrollment but repayment is deferred while a student is enrolled at least half time. The interest rate and origination fee changes annually and can be found on the Financial Aid website. Repayment will begin six months after graduation or less than half-time enrollment. Accrued interest will be added to the principal balance at graduation or whenever a student is enrolled less than half time
University Based Financial Aid
Short-Term Emergency Loan
Shaefer-Smith Emergency Loan Fund
Provides short-term emergency loans to dental students. Loans are granted on the basis of financial need, character of the applicant and unavailability of other funds. They are mainly administered by the student members of the Financial Aid Committee in conjunction with the Associate Dean for Student Affairs and are not to exceed $1000. They are a 6 month loan at 3% interest. Seniors must repay any emergency loans before they will be certified for graduation. If a student does not graduate the entire loan must be repaid at termination. There is a service charge of $5.00 for loans of $100 or less and $7.50 for loans over $100.
Nebraska Dental Association Loan Fund
Provides short-term emergency loans to dental students. Loans are granted on the basis of financial need, character of the applicant and unavailability of other funds. They are administered by the Associate Dean for Student Affairs and are not to exceed $500. There is a 6% interest rate which must be repaid at the succeeding registration or within six months of graduation for seniors. If a student does not graduate the entire loan must be repaid at termination. There is a service charge of $5.00 for loans of $100 or less and $7.50 for loans over $100.
Long Term Loans
Frederick W. Schaefer Dental Scholar Loan Fund
Exists only to collect past loans. Funds are transferred to the Frederick W. Schaefer Scholarship Fund.
Posey Dental Student Loan Fund
Exists only to collect past loans. Funds are transferred to the endowed continuing education fund.
Robert Wood Johnson Loan Fund
Exists only to collect past loans. Funds are transferred to the scholarship fund.
Dental Alumni Loan Fund
Used to supplement unmet need from federal loan programs. Maximum loan is $2,000 per academic year. Awards are based on financial need only. No interest while the student is in school, 8% annual interest rate after graduation. 4 year repayment schedule.