FINANCIAL AID WITH THE U.S DEPARTMENT OF EDUCATION
William D. Ford Direct Lending Program
Murdoch University is registered with the U.S Department of Education to certify funding under the William D. Ford Direct Lending Program. There are several loans available for U.S Citizens or eligible non-citizens who are enrolled at least half –time in a Bachelor, Masters or PHD program at Murdoch University. An eligible student must make satisfactory academic progress, and not be in default or owing a return repayment on a grant or Loan.
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Murdoch University’s School Code: 025796 00
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Murdoch University’s for FAFSA: G25796
Types of Loans
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Subsidized Loan
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Unsubsidized Loan
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Parent PLUS
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Graduate PLUS
+ download a more detailed description of "Types of Loans" (pdf format)
Interest Rates
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Direct Subsidized Loans for undergraduates with a first disbursement date between July 1, 2011, and June 30, 2012: 3.4%
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Direct Subsidized Loans for graduate students and Direct Unsubsidized Loans for all students: 6.8%
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Direct PLUS Loans: 7.9%
Loan Fees
There is a loan fee on all Direct Subsidized and Unsubsidized Loans. The loan fee is a percentage of the amount of each loan you receive. For loans first disbursed on or after July 1, 2010, the loan origination fee is 1.0%. The US Department of Education will deduct the loan origination fee proportionately from each loan disbursement. The specific loan origination fee that you are charged will be reflected in a disclosure statement that will be sent to you by the U.S Department of Education
There is a fee of 4% of the loan amount for all PLUS Loans, deducted proportionately each time a loan disbursement is made.
Cohort Default Rate
For the 2009 Fiscal Year Murdoch University had 13 students in repayment and 1 default.
