Middlebury Institute of International Studies at Monterey. Formerly the Monterey Institute of International Studies

Loans

US and international students at the Institute

U.S. federal and private education loans help our students pay for tuition and living expenses. To apply, submit your Middlebury Institute financial aid application.

Eligibility for Education Loans

U.S. students are eligible for both federal and private education loans.

International students are eligible for U.S. private loans, with a U.S. co-signer. You may be able to receive education loans from your own government. 

Types of Education Loans

  • Stafford Loans: U.S. federal loans offered at fixed interest rates with a six month grace period
  • Graduate Plus Loans: U.S. federal loans for graduate school, based on your credit worthiness
  • Perkins Loans: Need-based U.S. federal loans
  • Private Loans: Education loans through a private lender, based on your credit history

We encourage you to borrow only the amount necessary to cover educational expenses, since your loans must be paid back with interest. You may not borrow more than the current cost of attendance.

U.S. Federal Loans

Stafford Loans

  • Unsubsidized loans for graduate students
  • Subsidized or unsubsidized loans undergraduate students
  • Interest Rate: 6.21% (Fixed) for loans with a first disbursement on or after July 1, 2014
  • Grace Period: 6 months
  • 1.073% origination fee
  • Maximum Award: $20,500 per academic year for unsubsidized loans

Graduate PLUS Loans

  • Unsubsidized loans based for graduate students on your credit worthiness
  • Interest Rate: 7.21% (Fixed) for loans with a first disbursement on or after July 1, 2014
  • Interest begins to accrue at the time of disbursement
  • Grace Period: None (You may request a six month deferral from the lender.)
  • 4.292% origination fee
  • Maximum Award: No limit

Perkins Loans

  • Subsidized loans based on financial need
  • Interest Rate: 5.00% (Fixed)
  • Grace Period: 9 months
  • Maximum Award: $8,000 per academic year for graduate students
    $5,500 per academic year for undergraduate students
  • Serviced by Campus Partners

Private Loans

Both U.S. and international students are eligible for private education loans. International students will need a U.S. co-signer. If you're attending our language or non-degree programs, you may also apply for private loans.

  • U.S. private loans based on your credit history
  • Interest Rate: Fixed or variable
  • Grace Period: Varies by lender
  • Maximum Award: No limit
  • Both U.S. and international students should consider all government and institutional sources of aid before applying for private loans.

Computer Purchase Program

You may request a one-time loan increase for up to $2,000 through our Computer Purchase Program to buy a laptop. To apply:

  • Please submit the receipt after you purchase the laptop.
  • If you need the funds in advance, contact the Financial Aid Office to request a Laptop Purchase Form.
  • In certain cases, we may increase your financial aid in the form of Graduate PLUS or Private Loans.