Private Educational Loans: Graduate students enrolled at least half-time in a degree-seeking program may be eligible to borrow up to the total cost of attendance less other aid. The loan is not based on financial need. Rather, eligibility is based on subtracting other financial aid assistance from a student's total cost of attendance. Loan eligibility is also based on the student borrower's and/or co-borrower's credit history and ability to repay the loan. The in-school or grace period interest rate is variable and usually based on the Prime, LIBOR or T-Bill rate plus an additional interest charge (which is determined by the borrower and/or co-borrower's credit history). The student is responsible for payment of interest but may elect to have the interest accumulate and capitalize while enrolled at MWU. Repayment may begin immediately upon enrolling on a less than half-time basis or upon graduation. Students will need to check with their lender for further details on postponement or deferment of loan payments.