Federal Financial Aid Programs
Subsidized Federal Direct Stafford Loans
Subsidized Federal Direct loans are no longer available to to Graduate Students, as of July 1, 2012.
Unsubsidized Federal Direct Stafford Loans
Graduate students may borrow Federal Direct Unsubsidized Stafford loans while they complete their program of study. Interest accumulates on unsubsidized loans while the student is attending college. Students should pay this interest while they are in school. Students may receive unsubsidized loans regardless of financial need.
Graduate students may borrow a maximum of $20,500 per academic year in unsubsidized loans. Students are given up to or more than 10 years to pay back all loans.
For more information about interest rates and Stafford loans, visit FAFSA’s Federal Stafford Loans website.
Graduate/Professional Direct PLUS Loan
Full- or part-time graduate students can borrow money equal to their cost of attendance minus other estimated financial assistance.
Applicants must demonstrate that they do not have adverse credit history.
There is no limit to the amount of money a student can receive – students may borrow (up to the cost of attendance) minus any funds covered by existing financial aid.
The first payment on a Direct PLUS Loan is due within 60 days after the loan is fully dispersed. Students may, however, postpone payments on the loan while they are in school.
Fill out a FAFSA (Free Application for Federal Student Aid) to apply. Also complete the Graduate PLUS Application provided by the Office of Financial Aid. A Graduate PLUS Loan application is mailed along with the annual award notice.
More information about this loan can be found on the Direct PLUS Loans for Graduate Students website.
Federal Work-Study (FWS) is a program that allows undergraduate or graduate students to earn money for education expenses by working part-time. FWS eligibility is based on financial need, and is offered based on financial need, available funding and the financial aid policies of the student’s college.
Students are paid hourly, and are usually employed by their college – they must be paid at least the current federal minimum wage. A student works with their college to determine where they will work and base a student’s hours on financial need, class schedule, and academic progress.
Typically, students work on their college’s campus. If a student works off-campus, it is usually for a private, non-profit or public organization whose work is in the public interest.
For more information, see FAFSA’s FWS website.
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