Dreamers Graduate Loan Program: Information for Students
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.
The application for the 2024-2025 academic year is currently closed. Please be aware that the terms and eligibility criteria for this loan program are subject to change without notice. Funding is limited and subject to availability at the time of application. Availability of funds is not guaranteed.
Resources
- Loan Program Details
- Financial Education Workshops
- Additional financial education resources
- Learn more about the program’s first three years of impact
Questions?
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.
References:
1 Consideration of Deferred Action for Childhood Arrivals (DACA)
2 Temporary Protected Status (TPS)
3 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.
Photo courtesy of Golden Door Scholars and TheDream.US.