Dreamers Graduate Loan Program: Information for Students

Students walking

The application for the 2024-2025 academic year is now live. Interested students can view eligibility criteria and loan terms below and apply at Funding U.

Before applying, review key loan terms, application tips, and frequently asked questions

The Dreamers Graduate Loan Program supports Dreamers with Deferred Action for Childhood Arrivals (DACA)1 or Temporary Protected Status (TPS)2 status who want to pursue professional degrees to achieve their career aspirations but do not have access to affordable financing options. This loan program provides loans to individuals with DACA and TPS status with interest rates based on the annual percentage rate (APR)3 available via the federal government’s Direct PLUS loan program.4 This loan program is a private loan program, with Funding U as the loan originator and Launch LLC as the loan servicer.

The program takes a student-centric approach—there are no cosigner requirements, no minimum credit score requirements, and no additional fees to take out a loan. All borrowers who sign up for automatic payments are eligible to receive a 0.25% interest rate discount.

The eligibility criteria for this program have been designed using a student-centered approach to identify institutions and graduate degree programs that prepare students for in-demand jobs with starting salaries high enough to support the debt burden.

The information on this page is provided for informational purposes and is representative of past loan terms and repayment scenarios. The actual loan issued by the loan originator, Funding U, will dictate a student’s actual loan terms and payment options.

Eligibility Criteria

DACA or TPS immigration status
Have a Social Security Number
Resident of an eligible state5
Enrolled at least half-time in an eligible degree program at an eligible institution, including co-terminal or 4+1 degree programs6
Pass a credit history check (no credit scores required)7
Graduate Degree Programs
Degrees with historical average debt-to-income ratios less than or equal to 15%
High labor market value with earnings high enough to support the debt burden
Institutions with 3-year average Cohort Default Rates less than or equal to 8%, unless an existing partner institution of select scholarship programs8

Key Loan Terms

For information on the terms of loans taken out through the Dreamers Graduate Loan Program, including interest rate and repayment details, please refer to the overview of key loan terms.


How It Works

Flowchart detailing a DACA student loan process, including eligibility pre-check, loan application steps, school certification, and fund disbursement. Icons accompany each step for clarity.

What Makes this Program Different?

TheDream.US students gathered.
  • No cosigner required
  • No credit score required
  • No additional fees
  • No prepayment penalties
  • No late payment charges
  • Auto-pay incentives to reduce your interest rate by 0.25%
  • 6-month grace period after graduation
  • APR based on the APR of Direct PLUS loans


Is the Dreamers Graduate Loan Program right for you? We’re here to support you as you explore financing options for graduate school. For questions on the eligibility of the loan program, please email us at dreamersgradloan@socialfinance.org. For questions about the application process, please email Funding U at dreamers@funding-u.com.


1 Consideration of Deferred Action for Childhood Arrivals (DACA)

2 Temporary Protected Status (TPS)

APR refers to the annual rate of interest charged to borrowers. APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction, but it does not take compounding into account.

4 Direct PLUS Loans are offered through the U.S. Department of Education and are available to U.S. citizens, permanent residents, and select eligible noncitizens who are pursuing eligible graduate or professional degrees and certificates.

5 The following states are ineligible: Alaska, Idaho, Kentucky, Maine, Mississippi, Montana, Nevada, New Hampshire, North Dakota, Rhode Island, South Dakota, Wyoming, and Washington, D.C.

6If a borrower is currently enrolled in an eligible program at the time of application, the borrower must have a cumulative graduate school GPA greater than or equal to 3.0 and a current semester GPA greater than or equal to 2.0. 

7Credit knockout criteria for academic year 2024-2025 include the following, excluding all medical debt: i) default on any past loan; ii) 11 or more instances of accounts/trades that have ever gone >90 days past due; iii) collection items/liens/judgments >$500; iv) involvement in any current or prior bankruptcy proceedings; v) open, active, or unresolved public record item; vi) charged off account with a balance >$500; vii) a student debt-to-income ratio greater than 35% (includes graduate and undergraduate student loans); viii) with limited exceptions, all past due/collections amounts must be resolved prior to approval.

8 Select scholarship programs include TheDream.US, Golden Door Scholars, and Equal Chance for Education.


Photo courtesy of Golden Door Scholars and TheDream.US.