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Loans Available

The following loans are available through CQUniversity

 US Department of Education
 
Stafford Subsidised

This loan is based on financial need as defined by the Department of Education. The loan is "subsidized" because the government pays the interest while you are in university at least half time. Under Australia law students studying in-country are required to be studying in a full-time mode.

Subsidized loans are based on financial need as determined by the Expected Family Contribution on the FAFSA. The US Federal government pays the interest during in-school, grace, and deferment periods.
Stafford Unsubsidised

This loan is not based on financial need. Because it is "unsubsidized," you are responsible for paying the interest from the time the money is disbursed. . If you choose to not pay interest whilst ‘in-school'  interest accrues and is capitalized (added to your principal loan balance).  However, this option adds to the amount you will have to repay on your loan when you leave university. It may also increase the amount of your monthly payment.
Stafford PLUS

This loan is not based on financial need, and can be up to the Cost of Attendance (COA) minus all other Aid

Parents of Dependent Students: Parents are eligible for this loan if their child is a dependent undergraduate student as defined by the US Department of Education, if they meet certain credit guidelines and if the loan is certified by the university.

Graduate Students: Graduate students may borrow this FFEL loan on their own behalf, after applying for other Stafford aid. This loan does go through a federal credit check process. This review looks for bad credit only. You do not have to meet other financial standards as with other private alternative loans

The US Federal Government does not pay the interest on these loans.
Other Dept of Ed Aid There are a number of other programs (Pell Grants, Perkins Loans, Direct Stafford etc) available under the same US legislation (Title IV) however these cannot be awarded whilst students are studying outside the US.

Whilst CQUniversity cannot award aid under these programs it however can defer the repayment of these loans whilst you are attending CQUniversity on a full-time or more than half-time basis.
Private Loans Students can apply for private loans to cover any unmet financial need that is not covered by loans, grants or scholarships. A private loan is an educational loan in the student's name through a private lender (cosigner may be required). This allows students to borrow additional funds after federal student loans have been exhausted or if the student is not eligible for federal aid. This lender has no ties to CQUniversity.
US Department of Veteran's Affairs

CQUniversity is an eligible institution for the  MGIB scheme, enabling eligible veterans and their dependents to utilize their grant funds at this institution.

Important information

  1. Students enrolling in a non-award program such as the Study Abroad or Exchange program at Central Queensland University, as not eligible for Federal Direct loans through CQU. Students could apply for a private loan to cover their expenses. See section Private Loans above.
  2. Students enrolling in a Central Queensland University distance education program are not eligible to apply for loans under the Federal Direct Loan program or US Veteran's Affairs Benefits.
  3. US Federal Direct Loans such as Pell Grants and Perkins loans are currently not available to schools outside of the United States. However, repayment of these loans may be deferred whilst you are enrolled at least half-time at CQU. 
  4. Because of US legislative requirements associated with the delivery of the Nursing program, students enrolling in the Bachelor of Nursing at CQU will not be eligible for Direct Loans.