Long-Term Loans
A loan is a type of financial aid that is repaid according to the terms of the promissory note. All new Health Professions Student Loan (HPSL) and/or Federal Direct Loan borrowers must complete a Master Promissory Note and participate in entrance counseling before loan funds can be disbursed. Student loan borrowers also must complete an exit interview prior to leaving Creighton.
Health Professions Student Loan (HPSL)
To qualify for assistance under this program a student must be enrolled in the pharmacy program and demonstrate financial need. The amount awarded typically ranges from $5,000 - $10,000 per academic year depending upon the fund balance. Interested students must complete the FAFSA, and in all cases parents' financial information must be included regardless of dependency status. A copy of the parents' tax form is required and must be submitted to the Financial Aid Office. 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. Students will need to complete an HPSL Promissory Note before any loan funds can be disbursed.
Federal Direct Unsubsidized Loans
Creighton University participates in the William D. Ford Direct Loan program (Direct Loans). This means that the loans we offer are funded by the Department of Education to you, the student. You are automatically considered for a Direct Loan after submitting your FAFSA.
Unsubsidized loans begin accruing interest while you are in school or in deferment and repayment begins 6 months after graduation or less than half-time enrollment.
Pharmacy students that have started their program prior to July 1, 2026 can borrow between $33,000 and $37,167 and the aggregate maximum is $224,000 in Subsidized and Unsubsidized Loans (including undergraduate loans). Physical and Occupational Therapy students that have started their program prior to July 1, 2026 may borrow up to $20,500 annually and an aggregate maximum amount of $138,500 in Subsidized and Unsubsidized Loans (including undergraduate loans).
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 program students (as defined by the Department of Education), 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. Interest rate and origination fee information can be found on the Financial Aid web page.
Application: Students will need to complete a Federal Direct Loan Master Promissory Note (MPN), entrance counseling through the Department of Education's website. Application information will be included with a student's Financial Aid offer notification.
Federal Direct Grad PLUS Loan
Graduate and professional students can borrow through the Federal Direct Grad PLUS program if they are a borrower and 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.
For new program borrowers that start their program after July 1, 2026, they are not eligible for Direct Grad PLUS loans.
Application: Students will need to complete a Federal Direct Grad PLUS MPN and entrance counseling through the Department of Education's website. Application information will be included with a student's aid offer notification.
Emergency Short-Term Loans
There are various University-controlled short-term loans available to students on emergency need basis. The funds a student borrows are to be used toward educational or emergency expenses. The loan must be repaid prior to registration for the following semester.