Financing Information

Students Work at Table with Villanova Notebooks

In the process of paying for college, your objective should be to satisfy the balance of tuition costs without spending too much on interest from loans. Our objective is to provide you with a strategy to accomplish this. We developed the customizable Other Funding Opportunities to encompass the best available financing options to meet your needs.

Other Funding Opportunities includes the following recommendations, in order of cost-efficiency:


Payment plans are available for the Fall, Spring and Summer semesters.  Monthly payment plans allow you to spread your educational expenses over smaller monthly installments.  

Through our experience, we have found that many students find it convenient to pay for college expenses through a monthly payment plan, which we offer exclusively through NelNet.

NelNet is a company that works with many colleges and universities to offer monthly payment options to students instead of paying in one lump sum.

Payments are made through an automatic monthly withdrawal from a bank account or credit card. The plan is term based and enables you to pay for all or part of your charges for a $45 enrollment fee.

To learn more please visit NelNet. You can also contact NelNet customer service at 1-800-609-8056. The hours of operation are Monday through Friday 7:00 a.m. – 7:00 p.m. and Saturday 8:00 a.m. – 2:00 p.m.

The Federal Direct Loans are funded by the US Department of Education through Villanova University and are managed by federal loan servicers, under the supervision of the Department of Education.  

The Direct PLUS loan, provides parents of dependent students (Direct PLUS) and graduate students (Direct Graduate PLUS) with competitive rates and repayment terms.  The parent(s)’ creditworthiness is considered in determining their eligibility.

If a parent of a dependent student is denied the PLUS Loan, the student is then eligible for additional Unsubsidized Loan funding:

  • Freshman and Sophomore: additional $4,000
  • Junior and Senior: additional $5,000

The maximum amount that can be borrowed is the cost of education less all other financial aid received. Loans are not based on need but rather on the borrower's creditworthiness.


All loans disbursed between 7/1/23 through 6/30/24 will be subject to a fixed interest rate of 8.05%.

All loans disbursed between 7/1/24 through 6/30/25 will be subject to a fixed interest rate of 9.08%.

For the most up to date information please visit

Fees are deducted from the loan funds and are included in the amount a parent will pay back. The US Department of Education charges a loan fee of 4.228 percent for loans 1st disbursed on or after October 1, 2020.  This fee is deducted proportionately from each disbursement of your loan.

For parents of dependent undergraduate students, repayment normally begins within 60 days after the loan has been fully disbursed. Parents may request an in-school deferment of repayment until after the student's graduation.

Graduate students will automatically receive an in-school deferment while they are enrolled at least half-time. Once you graduate, or drop below half-time status, repayment will begin within 60 days after your enrollment status has changed.

  1. A completed FAFSA must be on file for the student
  2. Go to to complete the Direct PLUS Loan application*.
    • For an Undergraduate student, the parent will need to sign in using their FSA ID and Password
    • For a Graduate student, the student will sign in using their FSA ID and Password
  3. Complete and sign the MPN at

*NOTE: Your loan is not complete and will not be certified by the Office of Financial Assistance until ALL of the above steps have been completed.

If you have any questions about the Federal Direct PLUS or Federal Direct Grad PLUS Loan, please send us an email with your question, name, and Villanova University number to

Master Promissory Note
All borrowers seeking a Direct PLUS or Graduate PLUS Loan must complete a Master Promissory Note (MPN) with the US Department of Education. Through a Direct PLUS Loan MPN, you may receive multiple PLUS loans over a maximum 10 year period. You have to complete the promissory note only once. Thereafter, all you need to do is supply the amount you want to borrow each year and successfully complete the credit-check process. An MPN must be completed for each student enrolled.

If borrowing a Direct PLUS loan with an endorser, please note that a new MPN will need to be signed each academic year.

You may complete your Direct PLUS MPN at

*Credit Check
When you apply for a Direct PLUS Loan, the Department of Education will check your credit history. To be eligible for a Direct PLUS Loan, you must not have an adverse credit history. If you are found to have an adverse credit history, you may still borrow a Direct PLUS Loan if you get an endorser who does not have an adverse credit history.

Private Educational Loans are administered by private lenders and there are a variety of lending institutions that offer these.

You should first apply for a Direct Subsidized/Unsubsidized Loan and then consider the Direct PLUS Loan (if the student is dependent) or the Direct Graduate PLUS (if the student is a graduate student) and then, if additional funding is needed, apply for one of these loans.

Please allow at least four weeks from the start of the application process to disbursement of funds due to numerous disclosures now required by lending institutions.

You may choose to use any lender that offers a Private Educational Loan.  You may want to contact the bank, savings and loan, or credit union with whom you do business.

  1. Students and families will need to conduct research to find the best private educational loan to suit their needs. (i.e. identifying lenders who will approve loans for non-matriculated students, certificate programs, prior balances, etc.) Students apply directly through the lenders.
  2. Once approved for an alternative loan, the Office of Financial Assistance will review the loan for school certification.  This process includes confirming enrollment and verifying the eligibility for the type of loan requested and the borrowing amount requested.
  3. Each aid applicant will receive a notice of eligibility from the Office of Financial Assistance.
  4. Loan funds will be disbursed in accordance with the disbursement schedule once all necessary paperwork has been completed.

The Office of Financial Assistance has selected a group of Preferred Lenders based on quality customer service, borrower benefits, and financing options.  However, if you wish to use another lender that is not on this list, you may.  As a borrower, you have the right to select any lender you choose.

ELM Select is an external webpage where you will be able to review and compare Villanova University’s Preferred Lender information, and apply for private loans.

The Office of Financial Assistance will continue to meet with lenders on a regular basis to examine new products, services, and benefits for our students to make sure we are providing the best options.

Notes: Due to the numerous disclosures required by the Department of Education, students need to remain in contact with their lender to ensure timely disbursement of funds. Applying for the loan late, or failure to complete required disclosures may delay your funds and possibly cause you to incur University late fees, if your bills are not paid on time.

Click here for more information on the Office of Financial Assistance Code of Conduct

New Office Hours:

Summer Hours beginning May 17th.

Monday- Thursday 8:30 am - 4:30 pm.


Office of Financial Assistance
Villanova University
800 Lancaster Ave
Technology Services Building (TSB), Second Floor
Villanova, PA 19085

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