McElroy Loan

The McElroy Loan is available to help you pay for tuition, fees, and book expenses. This loan will be applied first to tuition and fees and then to your book expenses.

If you receive any additional financial aid, the loan amount plus your additional financial aid cannot be more than the cost of attendance.

Loan amount per semester

Full-time (12 or more credit hours) $1000
Quarter-time (10-11 credit hours) $750
Half-time (6-9 credit hours) $500

Eligibility criteria

  • cumulative GPA of 2.75 or higher
  • enrolled at least half-time at Hawkeye
  • have a co-signer
  • you and your co-signer must pass a credit report

To apply


Repayment of the loan is made on a monthly basis directly to the Foundation office beginning 90 days after you graduate or withdraw from Hawkeye, unless you continue your college education at another college or university.

The current interest rate is 4.75%.

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Financial Aid

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