General Financial Aid Information
Financial Planning Information
Consumer Protection Information
Loan Forgiveness and Repayment Options
Federal Direct Subsidized and Unsubsidized Loans
Federal Direct Loan eligibility requirements differ between students considered independent for federal student aid purposes and students considered dependent for aid eligibility. Dependent students are defined as currently under the age of 24 and single with no dependents. They are not veterans of the U.S. armed services and are not orphans or wards of the court.
Most Federal Direct loan borrowers qualify on a need basis to have the first $5,500 of their Federal Direct Loan considered as a subsidized loan. The federal government pays the interest on the borrower's behalf during the time the student is in school.
Any amounts that do not qualify for subsidized loan status become unsubsidized Federal Direct Loans. The borrower can pay the interest on these loans while in school or can choose to let the interest accumulate and add it to the amount borrowed at the beginning of repayment.
Interest rates on Stafford loans are set each July 1st. A list of current interest rates can be found at www.studentloans.gov. There are origination fees that the Department of Education takes out of your loan. You can find information about them at: https://studentaid.ed.gov/sa/types/loans/interest-rates.
Federal Parent PLUS Loan
This loan enables parents with good credit histories to borrow funds to pay the educational expenses of each child who is a dependent undergraduate student. The yearly limit on a PLUS loan is equal to the student's cost of education minus any other financial aid received.
Interest rates on PLUS loans are set each July 1st. A list of current interest rates can be found at www.studentloans.gov. A parent may borrow up to the cost of education minus any other financial aid you receive. There are no annual or aggregate borrowing limits set by the federal government. There is a credit check requirement for the Direct PLUS loan. Direct PLUS loans have higher origination fees than Stafford loans. For more information, visit https://studentaid.ed.gov/sa/types/loans/interest-rates.
Federal Perkins Loan
This need-based, low-interest loan is available to students who have exceptionally high financial need. No interest accrues while the student is enrolled in school and there is a nine-month grace period before payment begins. The interest rate is 5 percent. Separate entrance counseling and exit counseling requirements are needed for this type of loan, and are handled by our Student Accounts Office.
Private Student Loans
Private educational loans are also available for students who wish to receive additional resources to cover the gap in funding or to replace federal loans. It is the responsibility of the student to seek out a lender and apply for a private student loan. Private loans require a credit check and may require a co-signer. We encourage students to pay attention to interest rates, fees and repayment terms as these may be different than federal student loans. More information on private student loans can be found at https://choice.fastproducts.org/FastChoice/home/2242500/1.
Entrance and Exit Counseling
You are required to complete an online entrance counseling session at www.studentloans.gov prior to receiving any federal loans. We also strongly encourage you to complete entrance counseling for private loans at https://choice.fastproducts.org/FastChoice/home/2242500/1, but it is not required. Exit counseling for federal loans is required within 30 days of your graduation date (either 30 days before or 30 days after). This is also an online session completed at www.studentloans.gov. There is no exit counseling required for private loans. You may also, at any time, make an appointment with someone in the financial aid office to discuss either federal or private loans.
The University's work-study program offers a wide variety of on-campus and off-campus jobs. These jobs provide learning and earning opportunities to help students meet their living costs. There is also a small international student work-study program. Undergraduate students are eligible for consideration for both the federal and state (Washington residents) work-study programs. The average annual work study award is $1,500.
For additional information about the work-study program, please contact our Work Study Coordinator at (425) 602-3081.
Undergraduate students should inquire into possible financial aid programs sponsored by fraternal organizations, clubs, etc., in their home area. Alaska residents should ask about the Alaska Student Loan Program. Private educational loans are available for undergraduate students with an eligible co-signer. The interest rates on private educational loans are variable with no cap. You will need to check with the lender for information on interest rates and repayment terms. Canadian citizens can borrow under both the Canadian federal and provincial loan programs.
Undergraduate students have access to the full range of federal and state student aid programs. While loan limits are lower than those set for graduate students, the combination of grant programs and loans can provide a substantial level of support for eligible undergraduate students. Single undergraduate students, under the age of 24 and without dependents, are considered dependent students for the purpose of financial aid. Parental income and resources as well as student resources determine financial aid eligibility for these students.
Bastyr University works with veterans to access their Veterans Education Benefits. The Department of Veterans Affairs website provides information about all VA Educational Benefits Programs. You may also contact Michael Hall, Assistant Registrar, in the Office of the Registrar at mhall[at]bastyr[dot]edu to inquire about benefits specific to programs offered at Bastyr.
There are a number of things prospective students can do to help themselves prepare financially to meet their educational costs. These include:
To apply for financial aid at Bastyr University, there are two applications that you must complete and submit.
NOTE: Our priority deadline is April 15 each year.
Submit the Bastyr Financial Aid Application and any additional documentation to:
Once you have been admitted to Bastyr, you will receive an individualized award letter. However, below are “typical” award letters for planning purposes.
To request the status of your application, or for questions, please contact us.