School of Psychology & Counseling

SPC Admissions: 800.681.5906
or 757.352.4498

Glen Moriarty
“If you are in graduate school, then it should be cool to be broke.”

Glen Moriarty, Psy.D.

CACREP Quality Matters Program

Graduate School Loan Options

Student loans for graduate school are available through university-approved lending institutions to assist you in meeting the cost of a degree. As you determine how to afford graduate school, we encourage you to seek the Lord as to which means He would have you use in financing your education rather than misuse the privilege of borrowing money to meet your educational expenses. There are various loan programs available to Regent University students. Loan proceeds cover education-related expenses, including tuition, fees, books, a modest allowance for room and board, and other school-related costs. However, loan proceeds are not available until after the student arrives at Regent and are not intended to pay for past debts, capital acquisitions (purchase of an automobile, major appliances, etc.) or living expenses considered beyond the usual, customary and reasonable cost of living in college. Single students should plan on at least one roommate to offset living expenses.

Following registration, loan proceeds usually post to the student account 1-3 days prior to the start of the term. Loan refunds are not available until the second week of classes. Therefore, please plan accordingly to have necessary funds for books, deposits, living expenses, etc. The School of Psychology & Counseling will not advance funds against anticipated loan proceeds for book purchases.

A student may submit the FAFSA at any time during the year. The application process generally takes from six to eight weeks, but can take as long as ten weeks during the peak processing periods. The following recommended schedule has been established to facilitate students receiving loan proceeds in conjunction with the due date for final tuition payment:

Fall Semester: March 15 (FAFSA); June 1 (Loan App)
Spring Semester: October 1
Summer Session: March 1

Students should realize that the living allowance embraces a modest lifestyle. Single students should plan on at least one roommate to fall within the housing allowance. Students can support their loan requests by planning ahead to live within the means of the living allowance budget certifications. For a personal consultation on your allowable living costs, please contact the Central Financial Aid Office.

A student considering a private loan is strongly advised to review a copy of his/her credit history. This review may reveal a problem of which the student is unaware and provide an opportunity to resolve such problem before submitting a loan application. As is mandated by federal law, consumers are allowed to receive one free credit report from each agency annually. The best place for a student to go to get their free credit report is Our Central Financial Aid office suggests one of two options:

  • Select a report from one agency every 4 months (once in January, once in May, and once in September), alternating between the three bureaus, or
  • Review all three at the same time once a year.

You may also contact the following credit agencies directly. In some cases, there may be a nominal charge.

Equifax: (800) 685-1111
Trans Union : (610) 690-4909
Experian (formerly TRW): (800) 682-7654


Title IV - Federal Stafford: Regent University participates in the Title IV Federal Stafford Loan Program. Stafford Loans are offered through private banks but are insured by the federal government.

Most Regent Psychology & Counseling students utilize the unsubsidized loan programs providing up to $20,500 per year to cover tuition and living expenses. Students whose estimated cost of attendance and resulting need exceeds $20,500, may qualify for additional loan amounts over and above the Stafford loan maximum of $20,500. Psy.D. students can qualify for additional unsubsidized funding under the allied health pre-professional loan category. Qualified students will be notified of this eligibility at the time of their student loan offer, and may be able to access an additional $16,667 of unsubsidized through this federally-funded program. Students deemed eligible for the additional funding may apply for the extra funds through a GRAD Plus loan. The allowable figure for loan purposes is determined by Central Financial Aid in part on federal guidelines and will be provided to the student in the Account Summary in Genisys.

Student Eligibility: To be deemed eligible, a student must be enrolled at least half-time or admitted for enrollment at Regent University and be in good academic standing according to University policy (a Psychology & Counseling student must maintain a cumulative GPA of at least 3.0). The student must also make satisfactory academic progress toward completion of their program as defined by the School of Psychology & Counseling. Stafford loan approval is guaranteed to eligible students providing the student has not defaulted on a previous undergraduate federal loan or does not owe a repayment of a federal grant and/or reached federal annual or aggregate loan limits. Private loans are based on credit history and are not guaranteed. The applicant must be a U.S. citizen or an eligible permanent resident. The student must complete the Free Application for Federal Student Aid (FAFSA), you may apply directly online at: www.fafsa.ed.govRegent's school code is 030913. Students submitting FAFSAs after June 1 may not receive loan proceeds in time and should plan on alternative funding until loan proceeds are available. (See section on the Tuition Installment Plan.)

Repayment: See Loan Repayment and Loan Forgiveness pages of the website for specific information.


Students' lenders allow deferment of outstanding student loan payments while the student is in graduate study at Regent University, while other lenders may require monthly interest payments. It is the responsibility of the student to contact his/her lending institution to find out if a loan can be deferred while attending Regent University. Students desiring Regent University to complete loan deferment forms must submit proper forms to the Registrar's Office. The deferment forms will be completed after the student has completed the registration.

Regent University