Who gets McKinstry Loans?
Eligibility for a McKinstry Loan is determined by the Financial Aid Office. The program is designed to offer low-interest, long-term loans to help undergraduate and graduate students.

How do you repay a McKinstry Loan?
McKinstry loans have a 5% interest rate. Repayment can be made for a period up to ten years with a minimum monthly payment of $40.00. The loans have an initial grace period of nine months after a student's enrollment drops below half-time.
          Loan Payment Information

What cancellation, deferment or forbearance options are available to McKinstry borrowers?

Cancellation options:

Death

McKinstry loans may be deferred if one of the following conditions is met:

The student is enrolled as at least a half-time student.
The student is enrolled in a course of study that is part of a graduate fellowship program.
The student is on full-time active duty as a member of the Armed Forces of the United States.

If you do not qualify for a deferment or cancellation, you may be eligible for a forbearance. A forbearance is given to a borrower if the annual McKinstry loan repayment obligation equals or exceeds 20% of the gross annual income or if the Univistersity determines that  a borrower qualifies for other reasons.

To apply for any of these benefits, contact the Office of the Bursar at (662) 915-5099 or (662) 915-5096.