Financial Aid for Graduate Students

Financial Aid for Graduate School

Much of the aid received by graduate students is in the form of loans. Many federal and state aid programs available to undergraduate students are not available to graduate students (Pell and FSEOG Grants as well as many State programs.)

To apply for a Federal Direct Stafford Loan, you must complete the Free Application for Federal Student Aid (FAFSA) on a yearly basis. In addition, a Federal Direct Stafford Loan Master Promissory Note (MPN) must be submitted to the Department of Education.

Students wishing to receive Federal Direct Stafford Loan monies to finance their graduate education must be enrolled in a degree program and are required to comply with all federal regulations regarding the verification of their FAFSA, satisfactory academic progress, and withdrawal policies/procedures.

Academic progress for graduate students will require the student to receive a grade of A, B, C, D or P.  Any graduate student who receives a grade of F, I, or W is considered to have NOT successfully completed credits attempted.  Graduate students must earn all credits attempted.  Examples:  A full-time graduate student attempts 12 credits per semester for a total of 24 credits for the academic year.  That student must pass with an A, B, C, D or P all 24 credits.   A full-time graduate student attempts 9 credits per semester for a total of 18 credits for the academic year.  That student must pass with an A, B, C, D or P all 18 credits.   A part-time graduate student attempts 6 credits per semester for a total of 12 credits for the academic year.  That student must pass with an A, B, C, D or P all 12 credits.

Graduate School Loans
There are both government and private loans available to graduate students. Examples include:

• Federal Direct Stafford Loan - low interest rate federal loans available to most students, even at half-time status. These loans will be unsubsidized (you pay the interest while you are in school) beginning July 1, 2012.

How Much Can I Borrow in Student Loans?

Yearly Maximum: $20,500 (unsubsidized)

The total debt you can have outstanding from all Stafford Loan combined is $138,500 as a graduate student. Only $65,000 of this amount may be in subsidized loans. The graduate debt limit includes any Stafford Loans received for undergraduate study.

Enrollment Classification

Full-time graduate student: 9 or more credits per semester
Half-time graduate student: 5-8 credits per semester
Less than half-time graduate student: less than 5 credits per semester