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IMM Executive Masters of Business Administration

If you are a degree seeking student and meet financial aid citizenship requirements, you may be eligible for the Stafford and/or Graduate PLUS Loan programs.

  • To be considered for the Stafford and/or Graduate PLUS Loan programs, you must complete the Free Application for Federal Student Aid (FAFSA) using Purdue’s school code: 001825.
  • Both the Stafford and Graduate PLUS Loan programs require that you be enrolled at least half time (four credit hours).
  • Stafford and Graduate PLUS Loan requests can be accepted up to two weeks prior to the end of the module.

Financial assistance may be available from alternative loan programs.

  • A cosigner may be required if you have no credit, have an insufficient credit history, or are an international student.
  • Alternative loans may also be available to students enrolled less than half time.
  • It is recommended that loan requests be made at least one month prior to the beginning of the semester of enrollment.

For a yearly timeline of financial aid, please review the below information to ensure you understand and follow all necessary steps.

  • Complete the 2014-2015 FAFSA at www.fafsa.ed.gov

      If you are starting in the spring or summer term, you will need to complete the previous year’s FAFSA AND one for the upcoming year.

      Incoming 1415 FAFSA results are downloaded Tuesday evenings and 1314 FAFSAs are downloaded Friday evenings. Once we have a FAFSA, it will take 1-2 weeks to process.

      You will need to log into your myPurdue under the Financial Tab to check several items.

      • - Financial Aid Requirements: Make sure there are no red flags/outstanding requirements
      • - Important Messages: Double check there are no alerts needing attention
      • - Academic Progress: Review your status to ensure you are SATI

  • You can view or accept your Financial Aid Award by following these steps

      1. Log on at https://mypurdue.purdue.edu.

      2. Click on Financial tab.

      3. In the Quick Links column, click on "Award for Aid Year."

      4. Choose appropriate aid year and click submit.

      5. Click on Accept Award Offer tab.

      6. Enter in the amount you would like to borrow in the text box and choose "Accept" from the drop-down box next to the loan you would like to accept.

      7. Click the "Submit Decision" button.

  • Additional Loan Requirements

      • Perkins or Purdue Loans

      • You will receive an email from ECSI, a third party loan servicer, 1-2 business days after you accept the loan. The email will direct you to www.ecsi.net/prom3P so that you can complete a Promissory Note.
      • Perkins Loans require only one Promissory Note, while Purdue Loans require that students complete a new Promissory Note each time a new loan is borrowed.
      • These loans will pay when the following conditions are met:
        • - It is within ten days of the start of your first class
        • - You have signed your Promissory Note and we have it in our system
        • - You have confirmed your enrollment on myPurdue

      • Direct Stafford or Graduate PLUS Loans

      • Direct Stafford Loans are accepted on the student’s myPurdue account, while the Graduate PLUS Loan requires an application located on www.studentloans.gov.
      • Once the Stafford Loans have been accepted and the Graduate PLUS Loan has been approved, borrowers must complete two items: Loan Entrance Counseling and a Master Promissory Note, both of which can be completed at www.studentloans.gov. Both of these last for ten years, so students typically only need to complete each request once.
      • These loans will pay when the following conditions are met:
        • - It is within ten days of the start of your first class
        • - You have completed Loan Entrance Counseling and signed a Master Promissory Note, and we have downloaded these into our system
        • - You have confirmed your enrollment

  • Confirming your Enrollment

      Steps to confirm enrollment:

      • 1. Log into your myPurdue account
      • 2. Select the Financial Tab
      • 3. Click Confirm your Enrollment for the Coming Semester

      This can be done only after your bill has been paid in full or you have made the first payment of the Installment Plan.

      Failure to confirm your enrollment by the deadline may result in the cancellation of your classes.

      If you do not receive a response with green text stating that all enrollment requirements have been satisfied, then you will need to contact our office to determine what is preventing you from confirming.

  • Set Up Direct Deposit

      1. Log into myPurdue at https://mypurdue.purdue.edu

      2. Click on the Financial Tab

      3. Click Manage my Account

      4. Select eRefunds on the toolbar to enter your information

Each module of enrollment will have one loan disbursement. Loan funds will disburse to Purdue University; you are then responsible for paying your bill with TIAS Nimbus.

You can borrow up to Purdue’s estimated cost of education, which includes allowances for fees and travel. Maximum loan amounts per academic year (2 modules = 1 year) are as follows:

Stafford Loan: The lesser of $20,500 or the cost of education
Graduate PLUS Loan: Cost of education minus other aid
Alternative Loan: Cost of education minus other aid

For more information about the program, please visit the IMM homepage.

Please feel free to contact us at dfa_pec@lists.purdue.edu should you have further questions.

Class of 2014
Loan Schedule Sample Cost of Attendance IMM Year Loan Period Begin/End Dates Disbursement Dates Student Example
Loan 1 $24,500 AY1 Mod1 Spring 2013 04/01/2013- 07/21/2013 03/22/2013 Stafford $20,500,
Grad Plus $4,000
Loan 2 $22,388 Mod2 Fall 2013 08/12/2013 - 11/24/2013 08/02/2013 Grad Plus $22,388
Loan 3 $38,703

AY2
Mod3
Mod4

Spring 2014

12/02/2013 - 04/06/2014 11/22/2013 Stafford $20,500,
Grad Plus $18,203
Summer 2014 04/07/2014 - 07/27/2014 03/28/2014
Loan 4 $24,500 AY3 Mod5 Fall 2014 08/04/2014 - 11/30/2014 07/25/2014 Stafford $20,500
Grad Plus $4,000

$15,000 is due to TIAS Nimbus at the start of each Module

Class of 2015
Loan Schedule Sample Cost of Attendance IMM Year Loan Period Begin/End Dates Disbursement Dates Student Example
Loan 1 $24,500 AY1 Mod1 Spring 2014 03/23/2014 - 7/13/2014 03/13/2014 Stafford $10,250,
Grad Plus $14,250
Loan 2 $22,060 Mod2 Fall 2014 07/20/2014 - 10/26/2014 07/10/2014

Stafford $10,250
Grad Plus $12,138

Loan 3 $44,523

AY2
Mod3
Mod4

Spring 2015

11/02/2014 - 03/08/2015 10/23/2014 Stafford $20,500,
Grad Plus $18,203
Summer 2015 03/29/2015-07/26/2015 03/19/2015
Loan 4 $24,500 AY3 Mod5 Fall 2015 08/02/2015 - 11/15/2015 07/23/2015 Stafford $20,500,
Grad Plus $4,000

$15,000 is due to TIAS Nimbus at the start of each Module