Jeff Shih Student Loan Now Open for the 2024-2025 Academic Year
The Jeff Shih Student Loan is now available to eligible international graduate adn undergraduate students at the University of Washington for the 2024-2025 academic year. This loan program, made possible by a generous gift from Seattle and San Francisco businessman Jeff Shih, is designed to assist international students with financing their education and achieving their degree goals.
Eligibility Requirements:
To be eligible for the Jeff Shih Student Loan, students must meet the following criteria:
* Enrollment: Graduate students must be enrolled in at least 5 credits during the quarter in which the loan is received. Undergraduate students must be enrolled in at least 6 credits. Students taking fewer credits may be considered on a case-by-case basis, requiring special procedures.
* Academic Standing: Recipients are expected to maintain satisfactory academic progress and scholarship standing throughout the loan period.
Loan details:
* Maximum Loan Amount: Students may borrow up to a total of $15,000 throughout their graduate or undergraduate career.
* Interest Rate: The loan carries a 4% interest rate. Students who choose to repay the full loan amount while enrolled full-time at the UW will not be assessed any interest or service fees.
* Grace Period: A nine-month grace period is provided after a student leaves school, graduates, or drops below half-time enrollment. Repayment does not begin until the end of this grace period. The grace period will also begin if a student’s enrollment falls below 5 credits (graduate) or 6 credits (undergraduate) per quarter.
* Repayment: Monthly repayment amounts will be steadfast by the amount borrowed.
* repayment Term: The total loan amount must be repaid within ten years.
How to Apply:
Interested students with questions about the Jeff Shih Student Loan are encouraged to contact the Office of Student Financial Aid for more data and to begin the application process: https://www.washington.edu/financialaid/contact-us/
