Institutional Loans

SMU Loan Programs 

Helping families and students invest in their future. 

Family Assistance Loan

A non-federal loan program designed for First-Year students and their families with predictable, low-interest financing.

Highlights at a Glance

  • Fixed interest rate: 7% simple interest
  • Monthly payments that never change
  • Repayment period: up to 8 years
  • Borrow: $2,000–$10,000 per term (up to $20,000 annually)
  • Available for up to 4 years (8 terms)
  • Covers tuition, fees, housing, and dining (including fraternity/sorority housing and off-campus housing)
  • Repayment begins September 1 of the student’s first year at SMU

Eligibility

  • Not based on financial need
  • Approval based on income and credit review
  • If you later qualify for need-based aid, ½ of the Family Assistance Loan counts toward your aid package

Key Dates

  • Application opens: Early June
  • Deadline: August 1

Family Assistance Loan Credit Application

Summer Studies Loan

Supporting SMU Students During Summer Terms

A 0% interest loan to help undergraduates pay summer tuition and related expenses.

Highlights at a Glance

  • Interest rate: 0% (7% if any late payment occurs)
  • Grace period: 6 months after graduation, dropping below half-time, or withdrawal
  • Repayment period: 3 years (36 months)
  • Maximum loan:
  • Not eligible for deferment, cancellation, or consolidation

Eligibility

  • Must be enrolled half-time or greater in summer term(s)
  • Undergraduate students only

Repayment

  • Begins the first day of the 7th month after graduation, dropping below half-time, or withdrawal

Exit Counseling
Before repayment begins, borrowers must complete exit counseling, which covers:

  • Rights and responsibilities
  • Loan repayment expectations
  • Consequences of default
  • Updated personal information (address, phone, employment)

How to Apply

Contact Financial Aid to apply

For information on Summer Intercessions, visit smu.edu/summer

Contact Information

Already awarded a Summer Studies Loan and need more information?

Please contact the Student Financial Operations Specialist handling Institutional Loans at SFLoans@smu.edu

Phone: 214-768-1757

Mailing Address – U.S. Postal Mail:

Office of the University Bursar
Attn: SFO Loan Specialist
91ΧΤΕΔ
P.O. Box 750297
Dallas, TX 75275-0297

  SMU, c/o ECSI, P.O. Box 1287, Moon Township, PA 15108.

  • Payments are due by the first (1st) day of each consecutive month.

Who do I contact with billing questions?

Mailing Address:
ECSI/73-91ΧΤΕΔ
181 Montour Run Road
Coraopolis, PA 15108

 

Is exit counseling required?

  • Yes. SMU requires exit counseling for Summer Studies Loan borrowers who:
    • Graduate from an SMU undergraduate program
    • Withdraw from the university as an undergraduate
    • Drop below half-time undergraduate enrollment status

What information will I need to provide?

  • Updated personal details such as address, telephone number, and employment information

How is exit counseling completed?

  • Exit counseling can be completed electronically, in person, or by mail.
  • If a borrower withdraws without notifying SMU or misses a scheduled session, the University will mail exit counseling materials to the borrower’s last known address.

To complete exit counseling/exit interview, visit:

Important Notes:

  • A hold will be placed on all educational records (e.g., diploma, transcript) until the exit interview is completed.