Loans & Other Payment Options


Loans are financial obligations chosen by students, and in some cases parents or cosigners, that require repayment at a specific time. While loans are an accepted option for financing a college education, minimizing loan debt as well as properly managing your loans is key to your future success. Learn more about loans that you and your parents may be eligible for, as well as requirements to receive loans you have been offered below.


Federal Direct Loan
Graduate students may receive up to $20,500 annually if they meet the following eligibility requirements:
  • U.S. citizen or permanent resident
  • Enrolled at least half-time in a degree-seeking program
  • Not currently in default on education loan(s)
Federal Direct Graduate PLUS Loan
Graduate students may receive up to their Cost of Attendence minus other financial aid they are receiving if they meet the following eligibility requirements:
  • U.S. citizen or permanent resident
  • Be a graduate or professional student
  • Satisfactory credit history (credit criteria are determined by the Department of Education)


A private education loan (or alternative loan) is a credit-based loan that can be used to pay for education-related expenses up to the Cost of Attendance for a specific academic year of enrollment. These loans typically supplement an award package that includes federal loans and/or grants and scholarships. In some instances in which federal loans cannot be awarded, private education loans are used as the only source of funding. Because private loans are usually more expensive than federal loans, we recommend that families only consider obtaining a private loan after exhausting their federal loan eligibility, including Federal Direct Stafford Loans (subsidized and unsubsidized), and Federal PLUS loans. Private loan interest rates, terms, conditions, and eligibility requirements will vary.
The borrower (and co-borrower, if applicable) should first compare a variety of private student loans offered by banks and other education loan providers and apply only for the alternative loan that best suits his or her needs. If we receive a private loan application and we do not have a FAFSA on file, we will assume that you have made the decision to only pursue financing with the private loan lender. Please think carefully about your obligations as a borrower before pursuing any educational loan. Consider your educational investment at Gratz, as well as your long-term financial commitments when borrowing.
Non-Federal Private  Loans
A non-federal private loan may be an appropriate choice for you, if:
  • You have applied for the maximum amount of all federal loans suggested for you and still have a remaining cost between the cost of attendance and the total financial aid you have received.
  • You are a dependent undergraduate student and your parents will not borrow (or have been denied) a Federal Direct Parent PLUS Loan (see also the Federal Unsubsidized Stafford Loan).
  • U.S. government regulations make you ineligible for a federal loan. You may still qualify for a private loan because such programs are not bound by the same federal restrictions. For example, if you are not making Satisfactory Academic Progress, are in default on a federal loan, did not respond to verification requests, are enrolled for less than 6 credits, or are ineligible for federal loans for other reasons, you may be eligible for private loans instead.
  • You are in arrears for a semester prior to the current semester. You may be able to receive a private loan for an earlier loan period.
  • You are an international student with limited borrowing alternatives.

Some private loans do not have full deferment options, so it is best to borrow only the amount that you absolutely require. Individual lenders will evaluate credit history and application fees are not refundable.

If you decide to apply for a private educational loan, you must provide all documentation requested by the lender and follow the lender's application instructions.
When applying for a private loan, remember to request the amount of funds you will need for the full academic year. Please do not reapply for multiple certifications throughout the year on a term-by-term basis. 

Once your application has been received, we will certify your eligibility and schedule the disbursement of funds directly into your Gratz account. Credit checks on alternative loans are only valid for a limited period of time that is determined by the lender. In many cases, the lenders use 180 days. An application completed too close to the start of your first term may not be valid.

All private loans will be scheduled for even disbursement over the terms you are expected to enroll in classes. 


Veteran’s Education Benefits 

The Department of Veterans Affairs determines the eligibility of educational benefits to which Undergraduate and Graduate students are entitled. Gratz College is dedicated to assisting veterans and their dependents as they reach personal, professional and academic goals. If you have any questions regarding the application for your benefits, remaining entitlement, or any other general benefits questions, please contact the Veteran’s Affairs Office of the Philadelphia Education Department at 1.888.GI-BILL-1 (1.888.442.4551) or visit .

Below are some of the different benefits available:

  • Chapter 33 – Post 9/11 GI Bill ®
  • Transfer of Post 9/11 GI Bill ® Benefits to Dependents (TEB)
  • Chapter 30 – Montgomery GI Bill ® - Active Duty
  • Chapter 31 – Vocational Rehabilitation
  • Chapter 35 – Dependents Educational Assistance

You may be eligible to use VA educational benefits at Gratz College. If you are, you must select which benefit to receive. You cannot receive payment for more than one benefit at a time. If you are eligible for more than one benefit, you should contact the VA to discuss your educational plans.

VA Student Responsibilities:

  • Be accepted for enrollment to a degree program or be currently enrolled in a degree program at the Gratz College.
  • Submit the Certificate of Eligibility provided to them by the VA to Gratz College’s School Certifying Official (SCO).
  • Gratz College’s SCO will submit your enrollment, tuition and fee information for each semester of enrollment to the VA.
  • It is the responsibility of the VA student to provide the SCO with any changes to enrollment (add, drop, withdraw from a course) each semester on a timely basis. This can be done by emailing the SCO at [email protected].
  • Whenever you add, drop or withdraw from a course, it may affect your VA benefits. The VA will notify you if the change in enrollment resulted in a debt to the VA. You will be responsible for paying any debt back to the VA.

Gratz College's SCO:

Jeanne Cavalieri-Grover
VA Certifying Official / Director of Financial Aid
Gratz College
Office: 215.635.7300 x102
[email protected]

Gratz Payment Plan
Gratz is committed to making education affordable for its students.  That is why the Student Billing Office also offers an interest free payment plan.  Contact Student Billing at (215) 635-7300 ext. 163 for more information.