Seminary On-Campus

Compare Loans

Most students take out loans to help pay a portion of their school bill. Weigh your options to make sure you can manage the loans you borrow.

Refer to your financial aid award to see what loans you’re eligible to borrow. On your award, the category “Private Loan eligibility” is the suggested amount that you may pursue through a private loan.

Which loan is best for you?

Compare the educational loan programs to find the best loan based on your eligibility.

Loan type Borrower Fees Make payments while in school? Interest Rate 2019-2020 Repayment
Direct Unsubsidized Loans Student 1.062% Interest accrues. Optional in-school payment. 4.53% fixed Up to 10 years
Private Loans Student (often requires cosigner) Varies Interest accrues. Some require interest payments while in school. Varies Varies (10+ years)

How much should you borrow?

It’s important to avoid borrowing more than you’ll be able to repay after graduation. A reasonable monthly student loan payment would be 8-10% of your monthly income.

Check out the Budgeting and Loan Repayment Calculator information offered by the U.S. Department of Education. These are good tools to help you plan your expenses and loan debt.

Take a look at this chart based on a 10-year repayment period to see what your monthly payments could look like. Payments reflect a 6.8% interest rate.

Sample loan repayment:

Amount Borrowed Estimated Monthly Payment
$3,500 $50
$5,500 $63
$7,500 $86
$10,500 $121
$15,000 $173
$18,500 $213
$23,000 $265
$31,000 $357
$40,000 $460
$50,000 $575
$60,000 $690
$65,500 $754
$80,000 $920
$100,000 $1,151

Get Started

 

Calculate your Aid    Apply for Aid    Contact Us

Get Started

Higher education is an empowering experience and challenging adventure. Your education is a journey, and it all starts here.

Request Info Apply Today
Quick Links
Plan Your Visit Dates & Deadlines Transfer Students International Students

Student Life

Two Female Students in MU Gear
The Multnomah Difference

Why choose Multnomah? Multnomah University exists to help you tap into your own potential and equip you to pursue your calling. Take a look at some of our favorite things about MU and discover how you can become a part of the Multnomah family.
Campus Life

Check out our campus and get a glimpse into the Multnomah community.
Living in Portland

Come explore the heart of Portland and the unique opportunities that come from living here.
Beyond the Classroom

At Multnomah, education goes beyond the four walls of a lecture hall.
Spiritual Life

Integrate your relationship with Christ into your life and education at Multnomah.