Many of our students and families find loans to be an important tool to help finance their education at Lewis & Clark. We recommend that students budget carefully and borrow conservatively.
Federal Direct Loans
Subsidized
- 6.39% fixed interest rate for loans disbursed between July 1, 2025 and June 30, 2026.
- Subsidized (no interest) while the student is enrolled at least half-time and during the grace period.
- Need-based; check your financial aid offer to see if you’re eligible.
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Learn more about Federal Direct Loans.
Unsubsidized
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The fixed interest rate for loans disbursed between July 1, 2025, and June 30, 2026:
- For undergraduate students: 6.39%.
- For graduate and law students: 7.94%.
- Unsubsidized: interest starts accruing immediately after the loan is posted to the student’s account.
- Not need-based; check your award notification for the amount.
Federal Direct PLUS Loans for Parents of Undergraduate Students
- 8.94% fixed interest rate for loans disbursed between July 1, 2025, and June 30, 2026.
- Effective July 1, 2026, new limits will apply to Parent PLUS Loans: $20,000 annually and $65,000 cumulative maximum, per dependent student. Exceptions may apply for current students; more details are forthcoming.
- Unsubsidized: interest starts accruing immediately after the loan is posted to the student’s account.
- Not need-based.
Learn more about the Federal Direct PLUS Loan for Parents.
Private Loans
- Interest rate: variable, depends on borrower’s credit.
- Unsubsidized: interest starts accruing right away.
- Not need-based; may borrow up to Cost of Attendance minus all other financial aid.
- Learn more about Private Loans.
Loan Repayment
- Exit counseling and packets
- What if you can’t pay your student loan bills?
- Strategic repayment
- Consolidation
- Loan forgiveness programs
- Learn more about Repayment Options.