Graduates
Overview
Graduate school funding is unique when compared to the undergraduate
process due primarily to the differences in federal funding programs.
For one, graduate students are not eligible for federal grants.
However, graduate students are eligible for up to $20,500/yr in
Stafford funding (up to $38,500 for medical students).
Graduate Students can augment scholarships
by applying for private or institutional fellowships. Some graduate
students have the opportunity to apply for assistantships.
Assistantships frequently provide more funding than undergraduate
work-study programs.
FAFSA
The Free Application for Federal Student Aid must be filed in order to
receive any federal funding. In the case of graduate students, this
consists solely of the Graduate Stafford. Some schools use the results
to distribute institutional aid as well, so even if you do not plan on
using the Stafford, it is still a good idea to complete the FAFSA.
You must file the FAFSA in order to
receive any Federal loan money under the Graduate Stafford program. To
file your FAFSA on-line go to www.fafsa.ed.gov
Graduate Stafford
Graduate students can qualify for a Stafford loan without any prior
credit history. The application process starts with filing the FAFSA.
You will then be notified about your eligibility by way of an award
letter generated by your school's financial aid office. To complete the
process, you need to fill out a Promissory Note in conjunction with
your school and a participating lender.
Private loans
For many students, Federal Financial Aid will not cover all expenses,
particularly when the PLUS does not apply. If this is the case, you may
want to look into alternative loans. Our lenders offer a number of
alternative loan programs. For more information regarding alternative
loans and to locate one that may be right for you,
Fellowships
Graduate students may qualify for fellowships, but in order to have a
chance at receiving any such funding, you need to be pro-active in
applying. You will also want to check with your
department head(s) and the financial aid office at your school.
Other Sources
Some other great sources for finding aid are institutions and
businesses specializing within your area of study. Additionally, you
may also want to check into minority and/or community organizations.
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