Financial Aid Policy

Fairfield University administers a comprehensive financial aid program offering assistance on the basis of need, with funds derived from University, state and federal government, and private student aid programs. Need-based funds are distributed following a thorough analysis of a family's ability to pay for educational expenses. Assistance funded by the University is credited toward tuition unless otherwise indicated. Students will make a nominal yearly financial contribution toward program tuition and fees. Summer and winter courses will be covered by university financial aid as required courses for the degree. Eligibility for university financial aid is contingent upon enrollment as a full-time undergraduate student, matriculated in a program of study working toward completing their first associate's degree. Renewal of any type of assistance is contingent on the recipient making satisfactory academic progress and on filing the Free Application for Federal Student Aid (FAFSA) or the Fairfield Bellarmine Financial Aid Application on time. The information in this section related specifically to students enrolled in the Fairfield Bellarmine programs and may differ from the financial aid policies effective for the bachelor's degree seeking students. 

Students who demonstrate need will receive a financial aid package that may consist of grants, student employment, and student loans. An expected yearly contribution will be calculated by the university. University resources are available to cover the remaining program costs. Financial aid awards are usually offered to prospective first year students during March, assuming the appropriate applications have been filed on time. Returning students who apply for financial aid will receive their award notifications beginning in June through University email. Financial Aid administrators are available throughout the year to answer questions and to provide assistance. The Office of Financial Aid satellite office is located and staffed on the Fairfield Bellarmine Campus four days a week and can be reached at 203-254-4000 ext 3810 or by email (bleonelli-blain@fairfield.edu).

Application Procedures

To apply for financial aid, undergraduate students enrolled in Fairfield Bellarmine programs must complete the Free Application for Federal Student Aid (FAFSA) Form on an annual basis. Prospective first-year students are required to complete the FAFSA. If you are unable to complete the FAFSA due to extenuating circumstances, a university designed Fairfield Bellarmine Financial Aid application will be provided.

Students may file the FAFSA online. Fairfield's FAFSA code is 001385. By accepting any financial aid, you obligate yourself to verify the application information if selected for verification by either the federal processing center or by the Office of Financial Aid. Financial aid awards are estimated until the Office of Financial Aid confirms eligibility. If a student is selected for the verification process, the Office of Financial Aid will provide notification of the required documentation in order to complete the file review and confirm aid eligibility. Documentation required for verification is due no later than August 1. Financial aid awards may change based on verification results. Failure to comply with verification requirements in a timely manner will result in cancellation of need-based aid.

Renewal of Financial Aid Awards

Need-based awards will be renewed provided that the recipient reapplies for aid by University deadlines, continues to demonstrate sufficient need and maintains satisfactory academic progress standards. Need-based awards may be adjusted depending on changes in a student's need in order to comply with the required mandatory yearly financial contribution. Renewal of state and federal award funds will depend on a student's continued eligibility and on the availability of funds.

Financial Aid Disbursements

Federal, state and university financial aid disburses on Mondays and Wednesdays of every month with some exceptions. A student must meet various federal regulations in order to be eligible for a disbursement of federal financial aid. Students receiving state financial aid must comply and adhere to state regulations in order to be eligible for a disbursement of state financial aid. Financial aid does not disburse on scheduled University holidays. Federal loans do not disburse during the monthly reconciliation period from approximately the 25th of each month and the first Monday after the first Saturday of the next month. Final disbursement days and financial aid processing days for each semester are published on the academic calendar each year.

Standards for Satisfactory Academic Progress 

For students to be eligible for federal, state or university need-based financial aid, they must be in good academic standing and must make Satisfactory Academic Progress (SAP) toward a degree. SAP is measured at the end of each academic year and is based on both pace of enrollment and academic performance at the time of measurement. Pace is determined by the total number of credit hours completed as a proportion of those attempted. Incomplete grades, repeated courses and course withdrawals that occur after the drop/add period are counted in the credit hours attempted. If the student has transfer credits, the credit hours are counted in both the credit hours completed and attempted.

Academic performance is measured by GPA including grades earned only in Fairfield University courses. In order to make SAP, undergraduate students advancing from the first year to the sophomore year are expected to have a weighted cumulative GPA of 1.90 or better. For the purposes of both pace and academic performance, summer courses are a trailing term and will be evaluated in the next SAP review cycle. At the time of graduation, a student must have earned a minimum of 60-63 credits, including the major requirements. Moreover, students must have a minimum grade average of 2.0 (C) or better overall.

Pace of enrollment is measured by the percentage of attempted credit hours that are completed. Students must complete at least 67% of the credit hours attempted in a year in order to receive financial aid in the following year. Overall, students are eligible for university-based aid for up to eight semesters of enrollment; students may receive federal financial aid up to 150% (typically 6 years) of the normal time to degree completion. Repeated courses will be counted as part of the attempted and completed courses, and part of the 150% of normal time to completion. Please refer to our Academic Progress Standards for more information.

Students who lose eligibility for financial aid as a result of failure to make satisfactory academic progress may appeal to be placed on financial aid probation. This appeal must include the reasons for the lack of progress and the student's anticipated steps for improvement. In order to consider the appeal, the student will need to submit an approved academic plan that will lead to achievement of SAP standards. If during the probation period the student has not successfully achieved satisfactory academic progress, the student may appeal with a modified academic plan. Probation may last for up to one academic year, unless there are extraordinary circumstances. While on probation, a student's progress will be monitored at the end of each semester.

Academic Progress Definitions

ATTEMPTED HOURS:  Attempted hours include all those in which a student is enrolled at the end of the drop period.

WITHDRAWALS do not impact the GPA. Withdrawals will adversely affect the Completion Rate and are NOT considered a successful completion.

REPEATED COURSES affect both the GPA and Completion Rate. 

TRANSFER HOURS do not affect the GPA. Transfer hours are added to both completed hours and attempted hours in the Completion Rate calculation.

STUDY ABROAD classes in programs through other schools will not impact the GPA. These hours are treated the same as transfer hours and added to both completed and attempted hours. 

DISTANCE EDUCATION classes are treated no differently from on-campus classes. 

INCOMPLETE COURSES will not affect the GPA. Incomplete grade changes will not be re-calculated after SAP has been evaluated for the current term and will be included in the next evaluated term. Incomplete courses will adversely affect the Completion Rate, counting as attempted hours but not completed hours. 

FAILED COURSES will impact the GPA. A failed course will also adversely affect the completion rate, counting as attempted hours but not completed hours.

Grade and Credit Definitions for SAP

• Attempted credits include grades of A, B, C, D, F, I, W and blank.
• Earned (completed) credits include grades of A, B, C, D, F.
• W’s & I’s will not affect your GPA, but they do impact your credit completion ratio and will count towards maximum attempted credits.
• Summer courses will be evaluated and included in the next evaluation term.
• Winter courses will be included and evaluated as part of spring and in the next evaluation term.
• Incomplete grade changes will not be re-calculated after SAP has been evaluated for the current term and will be included in the next evaluated term.
• If you repeat a course, credits will be added to your attempted/earned credit totals each time you register. However, only the most recent grade received in the course will be used in the calculation of your cumulative GPA.
• Transfer and consortium credits accepted by Fairfield University will be included when calculating your cumulative completed credits percentage and maximum attempted credits, but not your GPA. This includes credits earned from institutions including non-Fairfield University study abroad programs. Credits are included in both attempted and earned credits.
• Consortium credits paid for with financial aid processed by Fairfield University as the home institution will be counted in all academic progress measurements.
• Extended credit courses are considered attempted, but not earned until a grade is submitted.
• Audit credits are not considered either attempted or earned and do not count in the GPA or the completion rate.
• Undergraduate credits taken while you are a graduate student that earn graduate credit toward completion of a graduate program will be included in your cumulative completed credits percentage, cumulative GPA, and maximum attempted credits totals.
• Graduate credits taken while you are an undergraduate student that earn graduate credit will not be included in academic progress standards.
• Graduate credits taken while you are an undergraduate student that earn undergraduate credit for your program of study will be included in academic progress standards.
• Federal regulations require the University to include the original grade and number of credits for any class you retroactively withdrew from when calculating your SAP status. If you have retroactively withdrawn from one or more courses, the GPA used to determine if you are meeting SAP standards may differ from your official University GPA.
• Credit/No Credit Option: Courses graded as "credit" by the instructor will counted in a students attempted and earned credit totals and completion rate. Courses graded as "no credit" by the instructor will count as attempted but not completed courses and will factor into the calculation of the completion rate. Neither option will factor into a students GPA used for determining SAP.

Notification

The Office of Financial Aid will notify all students who fail to maintain satisfactory academic progress. Students will be notified of their SAP status by university email once the Office of Financial Aid has been notified by the University Registrar that all grades have been posted and term-end processing is complete.

Reinstatement of Financial Aid

To have financial aid eligibility reinstated, a student may make up the credit hour and/or grade point index deficiencies in a subsequent term without receipt of financial aid for that term. University aid is only offered (if the student maintains eligibility) for up to eight consecutive semesters.

Appeal Process

A student who believes their failure to meet SAP standards was due to extenuating circumstances beyond their control may appeal in writing to the Appeals Committee. Some examples of extenuating circumstances are:

• A student's serious illness or accident
• Death or serious illness in the student's immediate family
• Cancellation/discontinuance of a class by the University
• Other unforeseeable circumstances beyond the control of the student that caused the student to fall below the satisfactory progress standards

Students should submit the SAP Appeal Form, including a personal letter, explaining the reason for the request and reason for their current academic status. In addition, an approved Academic Plan must be completed by the student and by an administrator from the appropriate Dean's Office. The Academic Plan can be obtained in the Dean's Office of any school, or printed online. The appeal form, personal letter, Academic Plan, and any other supporting documentation (if desired), must be submitted to the student's financial aid counselor in the Office of Financial Aid within two weeks of the notification from the Office of Financial Aid that SAP standards have not been maintained.

If an appeal for one semester of probationary financial aid is approved, a student's progress will be monitored at the end of each semester. If after the financial aid probation period the student has not successfully rectified the satisfactory academic progress deficiency, the student may submit an appeal letter to request an extended probationary period of financial aid. Financial aid probation may last for up to two semesters, unless there are extraordinary circumstances.

Appeals must be submitted to the Office of Financial Aid by July 1, or by other stated deadlines as provided by the Office of Financial Aid. If reinstatement of aid is sought for summer sessions, the appeal must be submitted prior to the first day of classes for that term. It is the responsibility of the student to initiate an appeal before a specified SAP Appeal deadline.

Academic Withdrawal

Those who are asked to withdraw from the University for academic failure will lose entitlement to financial aid. Students who are later readmitted to the University may appeal for reinstatement of some financial aid, but aid is not automatically reinstated. Students' satisfactory academic progress (SAP) status will be reviewed if a student is reinstated to the University. Students may be asked to complete the SAP appeal process as part of the re-determination of financial aid eligibility.

Note: For courses meeting for less than a full semester (15 weeks), financial aid entitlement will be adjusted accordingly.

Federal Return of Title IV (R2T4) Funds Policy

Student financial aid is disbursed based on the assumption the student will successfully complete all registered credits. If a student does not successfully complete all registered credits, they may not have earned all the aid disbursed on their behalf. The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60 percent of a payment period or term. Federal Title IV financial aid programs must be recalculated in these situations. You must begin enrollment in the semester in order to be eligible for a federal student aid disbursement. Withdrawal before the semester start will result in cancellation of federal aid. 

If a student leaves the institution prior to completing 60 percent of a payment period or term, the Financial Aid Office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula: percentage of payment period or term completed equals the number of days completed up to the withdrawal date, divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid. Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: aid to be returned equals 100 percent of the aid that could be disbursed, minus the percentage of earned aid, multiplied by the total amount of aid that could have been disbursed during the payment period or term.

If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds, and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution. If a student earned more aid than was disbursed, the institution would owe the student (or parent in the case of a PLUS loan) a post-withdrawal disbursement which must be paid within 180 days of the student's withdrawal. Students (or parents in the case of a PLUS loan) due a post-withdrawal disbursement will be emailed and mailed a notice to reply no later than 14 days of the date of the notice to confirm or refuse the disbursement. No reply will indicate a refusal of the disbursement. The institution must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student's withdrawal. Refunds are allocated in the following order:

1. Federal Direct Unsubsidized Loan
2. Federal Direct Subsidized Loan
3. Federal Direct Graduate PLUS Loan Program
4. Federal Direct PLUS Loan
5. Federal Pell Grant
6. Federal Supplemental Educational Opportunity Grant
7. Federal TEACH Grant
8. Iraq & Afghanistan Service Grant

It is the student’s responsibility to return unearned aid that was disbursed directly to the student. Unearned loan proceeds paid directly to the student must be repaid under the terms and conditions of the Master Promissory Note (MPN). Unearned grant proceeds paid directly to the student must be returned by the student to the Department of Education or by Fairfield University. The amount of grant proceeds a student must repay is limited to the amount by which the grant overpayment exceeds half of the original grant funds. An overpayment of $50 or less does not have to be repaid. The student must make arrangements with Fairfield University or the Department of Education to return such grant proceeds. If the student fails to make repayment arrangements within fourteen (14) calendar days of the date of the notice of the overpayment, the Office of Financial Aid may report the student to the National Student Loan Data System (NSLDS), which will result in the loss of any further financial aid eligibility. 

Examples

The amount of assistance that a student has earned is determined on a pro rata basis. For example, if a student completed 30% of the payment period or period of enrollment, the student earns 30% of the Title IV assistance that they were originally scheduled to receive. Once a student has completed more than 60% of the payment period or period of enrollment, the student earns all the assistance that they were scheduled to receive for that period.

If a student receives (or the institution or a parent receives on their behalf) excess Title IV program funds that must be returned, the University must return a portion of the excess equal to the lesser of:

1. The student's institutional charges multiplied by the unearned percentage of the student’s funds, or
2. The entire amount of excess funds.

Example 1 - Official Withdrawal - Attending Less than 60% of the semester

The student is a first-year student in the fall semester:

The student’s financial aid package includes:
Pell Grant: $2,500
Direct Subsidized Loan: $1,732 (net)

Direct Unsubsidized Loan: $990 (net)

Total Aid: $5,222

The student’s charges include:
Tuition and Fees: $6,428
 

Using Federal Aid Awarded in Computation:

The student withdraws on day 50 out of 111 days in the semester. 50 ÷ 111 = 45% of the semester completed (This student earned 45% of Title IV funds.)

Total amount of Title IV funds x Percent of earned Title IV funds
$5,222 x 45% = $2,350
$2,350 is the amount of earned Title IV aid.

Total amount of Title IV funds - Earned Title IV funds = Funds to be returned to Department of Education
$5,222 - $2,350 = $2,872
$2,872 is the amount of Title IV funds to be returned.

Using Qualified Charges (Tuition, Housing, Meal Plan, and Books) in Computation:

The student withdraws on day 50 out of 111 days in the semester. 50 ÷ 111 = 45% of the semester completed (This student earned 45% of Title IV funds.)

Total amount of qualified charges x Percent of earned Title IV funds
$6,428 x 45% = $2,893

Total amount of qualified charges - (Total amount of qualified charges x Percent of earned Title IV funds) = Funds to be returned to Department of Education
$6,428 - $2,893 = $3,535
$3,535 is the amount of Title IV funds to be returned.

The University must return the lesser of the two computations above to the Federal Title IV Program. In this case, based on the order of Title IV repayments, $990 would be returned to the Federal Direct Unsubsidized Loan Program, $1,732 would be returned to the Federal Direct Subsidized Loan Program and $150 would be returned to the Federal Pell Grant Program.

Example 2 - Official Withdrawal - Attended at least 60% of the semester

The student withdraws on day 72 out of 111 days in the semester. 72 ÷ 111 = .6486 or 64.86% of the semester completed. As 64.86% is over 60%, no return of funds is required.

Example 3 - Unofficial Withdrawal

The student's is a first-year student living on campus during the fall semester:

The student’s financial aid package includes:
Pell Grant: $2,500
Direct Subsidized Loan: $1,732 (net)

Direct Unsubsidized Loan: $990 (net)

Total Aid: $5,222

The student’s charges include:
Tuition and Fees: $6,428

There are 111 countable days in the payment period or period of enrollment. After the semester was completed, it was determined that the student unofficially withdrew during the term. It was determined by the University Registrar that the students last date of attendance was day 42 of the term. 

Using Federal Aid Awarded in Computation:

The student's reported last date of attendance was day 42 out of 111 days in the semester. 42 ÷ 111 = 38% of the semester completed (This student earned 38% of Title IV funds.) However, because this is an unofficial withdrawal, Fairfield University is allowed to utilize the mid-point of the payment period to determine the unearned aid percentage, or 50%.

Total amount of Title IV funds x Percent of earned Title IV funds
$5,222 x 50% = $2,611
$2,611 is the amount of earned Title IV aid.

Total amount of Title IV funds - Earned Title IV funds = Funds to be returned to Department of Education
$5,222 - $2,611 = $2,611
$2,611 is the amount of Title IV funds to be returned.

Using Qualified Charges (Tuition, Housing, Meal Plan, and Books) in Computation:

The student's reported last date of attendance was day 42 out of 111 days in the semester. 42 ÷ 111 = 38% of the semester completed (This student earned 38% of Title IV funds.) However, because this is an unofficial withdrawal, Fairfield University is allowed to utilize the mid-point of the payment period to determine the unearned aid percentage, or 50%.

Total amount of qualified charges x Percent of earned Title IV funds
$6,428 x 50% = $3,214

Total amount of qualified charges - (Total amount of qualified charges x Percent of earned Title IV funds) = Funds to be returned to Department of Education
$6,428 - $3,214 = $3,214
$3,214 is the amount of Title IV funds to be returned.

The University must return the lesser of the two computations above to the Federal Title IV Program. In this case, based on the order of Title IV repayments, $990 would be returned to the Federal Direct Unsubsidized Loan Program and $1,621 would be returned to the Federal Direct Subsidized Loan Program.

Example 4 - Post-Withdrawal Disbursement

Student was enrolled full-time for courses that spanned the full semester. The original charges for the tuition, fees, and books for the term were $39,165. The student began attendance in each course, but officially withdrew (W) on day 8 and received a 100% refund of institutional charges. The funds disbursed (credited) to the students account were: $0 Pell. However, the student could have received $3,698 from the Pell Grant if they had continued to be enrolled. There are 111 countable days in the payment period.

8 ÷ 111 = 0.0721 or 7.21%.

Apply the percentage completed (earned), 7.21% to 0 Title IV (federal) aid that could have been disbursed: $3,698 x 7.21% = $266.63 earned aid.

Total charges for the term: $0. (The student was provided a full refund.)

The student earned more federal financial aid than what was disbursed. The post-withdrawal disbursement for Title IV funds would be processed for the student and a refund would be issued within 14 days of the calculation. 

If their post-withdrawal disbursement includes loan funds, the University must get the student’s permission before it can disburse them. The student may choose to decline some or all of the loan funds so as not to incur additional debt. The University may automatically use all or a portion of the student’s post-withdrawal disbursement of grant funds for tuition, fees, and housing and food charges (as contracted with the school) if the student had any remaining charges after the withdrawal was processed. The University needs the student’s permission to use the post-withdrawal grant disbursement for all other school charges. If the student does not give permission, the student will be offered the funds. However, it may be in the student’s best interest to allow the school to keep the funds to reduce debt at the school.

• The University needs the student’s permission to use the post-withdrawal grant or loan disbursement for all other school charges. If permission is not given, the student will be offered the funds.
• However, it may be in their best interest to allow the school to keep the funds to reduce debt at the school.

Withdrawal Date

A student's withdrawal date is defined as the date that the student began the withdrawal process with Fairfield University; the student otherwise provided Fairfield University with official notification of the intent to withdraw; or, for the student who did not begin our withdrawal process or notify us of the intent to withdraw, the midpoint of the payment period of enrollment for which Title IV assistance was disbursed (unless we can document a later date).

Pell Recalculation Policy and R2T4

Fairfield University uses a census date (also known as the "freeze date") Pell Recalculation Policy for the fall, spring, and summer semesters. This means the student’s enrollment status to determine Pell eligibility “freezes” on the census date. The only way the enrollment status can increase after that is for the student to attend a later starting class and attend it through that class’ census date. In short, Pell enrollment status is determined and “freezes” on the full term census date and, after that, only on a subsequent short term class census date.

If a student withdraws prior to the full term census date, the enrollment status for Pell eligibility and the R2T4 calculation will be the student’s enrollment status on the date of withdrawal.

If the student withdraws after the full term census date, the enrollment status for Pell eligibility and the R2T4 calculation will be the student’s enrollment status at the last census date attended.

Student Notification

The Return of Title IV Refund calculation will be performed within 30 days of the withdrawal from the University. Notification of aid adjustments, as well as whether the student owes a Title IV or HEA overpayment, or owe funds to Fairfield University, will be sent in writing to the student.

Reinstatement of Financial Aid Upon Readmission to the University

Students who are later readmitted to the University may appeal for reinstatement of some financial aid, but aid is not automatically reinstated. A student's satisfactory academic progress (SAP) status will be reviewed once the student is reinstated to the University. The student may be asked to complete the SAP appeal process as part of the re-determination of financial aid eligibility upon readmission to the University.

Fairfield Bellarmine Grant

The Fairfield Bellarmine Grant is a grant awarded to support students enrolled in programs offered at the Fairfield Bellarmine campus. It may be awarded in conjunctions with other types of federal or state aid. Students receiving University grants are eligible to receive such assistance for four consecutive semesters from the date of enrollment as a first year student.

Federal Grants

Federal Pell Grant

A federal entitlement program that provides grants of up to $7395 to eligible students in the 2023-24 academic year who are pursuing their first baccalaureate degree.

Federal Supplemental Educational Opportunity Grant

Grants from federal funds are made available to students who demonstrate exceptional financial need. Funding for the program is very limited. Priority is given to Federal Pell Grant recipients.

Iraq and Afghanistan Service Grant

A federal program grant program for students not eligible for a Federal Pell Grant on the basis of the Student Aid Index and if your parent or guardian was a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11. Full eligibility requirements may be find online at studentaid.gov. 

Children of Fallen Heroes Scholarship

Pell-eligible students whose parent or guardian died in the line of duty while serving as a public safety office is eligible to receive a maximum Federal Pell Grant award. 

State Scholarships and Grants

All financial aid applicants should research the opportunities that exist in their home state for other scholarships or grants. Students should contact their state board or commission for higher education or consult their high school guidance counselor for information.

Federal Loan Programs

Loan Programs

Direct Loan

Federal Direct Loans may be obtained online. Up to $5500 per academic year for first year students (max $3500 subsidized), $6500 per academic year for sophomore-level students (max $4500 subsidized), or $7500 per academic year for junior- and senior-level students (max $5500 subsidized) may be borrowed. Repayment begins six months after a student ceases to enroll at least half-time (six credits or more). Students must file a FAFSA before a Direct Loan can be processed. The FAFSA will determine if the student is eligible for a subsidized loan (the federal government pays interest while student is enrolled) or unsubsidized loan (student pays or allows interest to accrue while enrolled full-time). The interest rate for undergraduate direct loans disbursed July 1, 2024 through June 30, 2025 is fixed at 6.53%. Interest rates on loans disbursed after July 1, 2025 have not been determined as of the date of publication of this catalog. The Direct Loan funds sent to the University on the student's behalf will be reduced by an origination fee. The origination fee is determined by the Department of Education and is subject to change October 1 of each year. The current origination fee on loans disbursed prior to October 1, 2025 is 1.057%. The interest rate and origination fee both change annually. For current Direct Loan origination fees and interest rates, please visit the Direct Loans website.

Direct PLUS Loan

This is a loan program for parents of dependent undergraduate students. A parent may borrow up to the cost of education minus any financial aid received during any one academic year. Students must file a FAFSA for parents to be eligible to borrow a PLUS loan. Parents and students must meet general eligibility requirement and parents must pass a credit check to be eligible to borrow a PLUS loan. Parents can apply online. Repayment begins 60 days after disbursement of the loan. The interest rate for PLUS loans disbursed July 1, 2024 through June 30, 2025 is fixed at 9.08%. Interest rates on loans disbursed after July 1, 2025 have not been determined as of the date of publication of this catalog. The Direct PLUS Loan funds sent to the University on the student's behalf will be reduced by an origination fee. The origination fee is determined by the Department of Education and is subject to change October 1 or each year. The current origination fee on PLUS loans disbursed prior to October 1, 2025 is 4.228%. Both the interest rate and origination fee changes annually. For current Direct PLUS Loan origination fees and interest rates, visit the Direct Loans website.

Alternative Loans

It is recommended that students borrow the maximum in Direct Loans before considering an alternative student loan. Direct Loans tend to be less expensive with fixed interest rates and provide various options for repayment. The Office of Financial Aid will certify any alternative loan at the request of any borrower, provided they are approved; however, it is the responsibility of the borrower to determine which alternative loan best fits their borrowing needs.

Alternative student loans are available to help students cover any financial gap that may exist between their educational costs (cost of attendance) and the amount of financial aid they are receiving. There are many types of alternative student loans, each are calculated with different interest rates and repayment terms, which vary, depending on the borrower and co-borrower's credit-worthiness. Fairfield University does not have a preferred lender list for alternative loans. Additional information may be found at our website. Students and families should research what alternative loan suits their borrowing needs. Most, if not all, undergraduate students usually require a credit-worthy co-borrower in order to obtain the best interest rate(s) and benefits. If you need assistance with any loans, please email the Office of Financial Aid or call 203-254-4125.