|
|
A number of educational loan programs are available to assist students in meeting their costs of attendance. Loan applications are available from private lending institutions such as banks and credit unions. A
Free Application for Student Aid
(FAFSA) must be on file. Only students enrolled on at least a half-time basis in a degree-granting program are eligible for educational student loans. Half-time enrollment is generally defined as taking a minimum of 4.5 graduate credits during the Fall or Spring semester. Contact the
Financial Aid Office for more complete details of minimum enrollment criteria for loan recipients for summer session and dissertation/internship completion.
Federal Stafford Loan
Private, Nonprofit Loans
Federal Stafford Loan
Through the Federal Stafford Loan, graduate students may borrow up to $18,500 per academic year. At least $10,000 of this amount must be in unsubsidized funds on which interest must be paid while you are in school and during your post-school grace period. Principal and interest on a subsidized Federal Stafford Loan are deferred while the student is enrolled on at least a half-time basis and during a six-month grace period. Eligibility for the interest subsidy is based upon financial need as determined by the
FAFSA. Interest is at a variable rate not to exceed 8.25 percent.
<back to top>
Private, Nonprofit Loans
A number of privately funded loan programs provide funds to credit-worthy students. Although the interest rates and terms are not a generous as the Federal Stafford Loan, some students may be interested in this type of borrowing opportunity. Additional information is available in the
Financial Aid
Office.
<back to top>
|
|
|
