UW international graduate and undergraduate students are eligible to apply for the Shih International Student Loan. The loans are made possible through a generous gift from Jeff Shih, a Seattle and San Francisco businessman and are intended to help international students in financing their education and completing their degree objectives.
Eligibility:
- Students receiving funds from their governments, U.S. permanent residents, and naturalized U.S. citizens are not eligible for this loan.
- Graduate students must be enrolled for 5 credits or more during the quarter in which they receive the loan. Undergraduate students must be enrolled for 6 credits or more during the quarter in which they receive the loan. (Students registered for less than the credits mentioned may receive the loan on an exception basis; special procedures are required.)
- Shih loan recipients are expected to maintain satisfactory academic progress and scholarship during the loan period.
Details about the loan:
- The total amount a student may borrow in this program throughout the course of his or her graduate/undergraduate career is $15,000.
- The terms of the loan include a 4% interest rate. (Should the student elect to repay the full amount of the loan while still enrolled full-time at the UW, no interest or service fees will be assessed.)
- Most loans have a grace period before you have to start repaying – the Shih Loan grace period is nine months. Your grace period starts the day after you leave school, graduate or drop below half-time enrollment before your repayment begins. You don’t have to begin making payments until your grace period ends. (Should a student’s enrollment drop below the 5-credit [graduate student] or 6-credit [undergraduate student] per quarter level, the nine-month grace period would begin.)
- Your monthly repayment amount will be determined by the loan amount you borrow.
- The total amount of the loan must be repaid within ten years.
How to Apply:
Due to the high demand in this institutional loan program, the Shih Loan is closed for the 2022-2023 academic year. Updated information and instructions for applying for the 2023-2024 academic year will be posted in late summer. Contact the Office of Financial Aid if you have questions.