Financial Aid and Scholarships

Student Loans pic

Student Loans

Student loans are borrowed money that must be repaid, with interest. There are four types of student loans available, Federal, State, Institutional (from the college you are attending) and Private.

Current Student Loans Available:

Federal Loans

Federal loans are awarded to students who complete the Free Application for Federal Student Aid (FAFSA) and who have been admitted to UMKC.

The most common student loans are:

Perkins Loan

Stafford Subsidized Loan

Stafford Unsubsidized Loan

Parent PLUS Loan

Graduate PLUS Loan


Federal Loans are available to undergraduate, graduate and professional students. There are limits on the amounts that students can borrow in Stafford and Perkins loans that vary based on the student's grade level, program of study and on the student's need as determined by the FAFSA. The U.S. Department of Education's publication, Your Federal Student Loans is a great resource for reading more about federal loans.

First time borrowers are required to complete entrance counseling and sign a Master Promissory Note before any loan funds will disburse to the school.

Federal Loans do not need to be repaid until the student has graduated or stopped attending college at least part-time.

State Loans

The State of Missouri currently has loans available for Health Professional students.  Students in Health Professional degree programs (Dentistry, Medicine and Nursing) should visit the Missouri Division of Health and Senior Services (DHSS) website to find additional details:

If you are not from Missouri, you should check with your state's Higher Education Authority to find out if special student loans are available to you as a resident of that state.

UMKC Institutional Loans

UMKC offers Institutional loans to help students meet their Cost of Attendance. The majority are awarded automatically based on completion of the FAFSA by March 1. To find out more about these institutional loans, contact us.

UMKC also offers Short Term Loans for students enrolled at UMKC. These are available for emergency or unexpected circumstances and must be paid off by the end of the semester in which it was borrowed. See the Short Term Loan Policy to see eligibility requirements and restrictions. Visit the Financial Aid and Scholarships Office in person to apply for a Short Term Loan.

Health Professional Loans

There are additional loans available to students in Health Professional degree programs at UMKC, in addition to Federal and Institutional Loans. There are several Institutional Loans for Health Professional students that will be awarded based on filing a FAFSA and meeting eligibility criteria. Other loans available to Health Professional students include:

Health Professional Loan (HPL)

Primary Care Loan (PCL)

Loans for Disadvantaged Students (LDS)

Nurse Faculty Loan Program (NFLP)

Primary Care Resource Initiative for Missouri (PRIMO)

Health Professional Nursing Student Loans

Private Loans

UMKC's Financial Aid and Scholarships Office encourages students to take advantage of all sources of federal aid before turning to private loans (also called alternative loans). If you're interested in applying for federal financial aid, please visit Private loans do not require students to fill out the Free Application for Federal Student Aid (FAFSA), are based on credit-worthiness and have variable interest. Private loans must be repaid separately from federal loans once students are no longer enrolled at least part-time. Please be sure to look over the information about federal aid available on our website before pursuing a private loan:

If you choose not to file the FAFSA and only want to pursue a private loan, you must complete an Alternative Loan Request Sheet located on our website under Forms.

New laws in 2010 are far more restrictive in how universities are allowed to offer guidance to students when choosing a private loan lender. Therefore, the Financial Aid and Scholarships Office has put together the following tips for you as you're looking for a private loan. At this time we are not able to suggest a particular lender to you.

  1. Make sure that the lender offers loans to students in Missouri and who attend UMKC.
  2. Find a lender who has an established loan program or reputation- Many major, national banks offer private loans.
  3. You may be required to have an eligible co-signer on the loan application; often, having a co-signer will help you obtain a better interest rate.
  4. Check into when you will be required to repay the loan (some lenders allow you to defer the repayment of the loan until you're no longer enrolled at least part-time).
  5. Watch out for high fees. A loan with a lower interest rate but high fees can ultimately cost more than a loan with a somewhat higher interest rate and no fees.
  6. Generally, loans based on the LIBOR index tend to be better in the long term than loans based on the PLR (Prime Lending Rate).
  7. It is common for interest rates to be lower while a student is in school and higher during repayment.
  8. Most private loans will require the school to certify the amount that you are eligible to receive.

Loan Repayment

Whether you're interested in attending school, currently working on obtaining a degree or have graduated and begun repayment on your student loans, you may want to know what options are available when it comes to student loan debt. It is important to plan how much you can afford to borrow for school. It is also important for your personal financial health to keep your loans in good standing.

If you're having trouble making loan payments, consider contacting your loan holder to talk about the options below.

Level / Standard


Income Sensitive


Income Based (New July 1,2009)



Loan consolidation involves applying for a new loan to pay off several existing loans. Students who have borrowed Federal loans (Stafford, Perkins, Health Professional-HPL or Graduate PLUS) can consolidate these loans through a Federal Consolidation Loan. A Federal Consolidation Loan has a fixed interest rate (based on a weighted average of the underlying loan interest rates) and is eligible to be placed on any of the Repayment Plans that a borrower qualifies for. Consolidation is ideal for students who have borrowed through multiple lenders, as it provides a single monthly payment to one lender. Currently, the Federal Direct Consolidation Loan Center is offering consolidation loans to the most borrowers. Contact the Information Center to find out if Consolidation is the right choice for you.

Private student loans cannot be consolidated with federal loans. Some private loan companies will allow you to consolidate multiple loans with them, but eligibility and availability is at the discretion of the lender. Contact your lender to see what options are available.

National Student Loan Data System (NSLDS) for Students

The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data.

acrobat icon The Before You Owe Worksheet is a tool you can use to record your loan balance and servicer information before you take on additional debt.

FAFSA Information

Student Veterans Virtual Resource Center