Federal Aid for Graduate Students
Federal Aid Graduate Students might be eligible for:
Federal Direct Loans
A long-term need-based loan for eligible students. These loans are funded by the government to students for the purpose of aiding in the education process. If you are a student enrolled in an eligible program of study at least half-time, you may receive a Direct Loan. To determine eligibility you must complete the Free Application for Federal Student Aid (FAFSA) and meet other general eligibility requirements. In addition, a promissory note must be completed. All Direct loans for graduate students are unsubsidized.
- Unsubsidized Direct Loan
Unsubsidized Direct Loans are not awarded on the basis of need. You will be charged interest at a rate of 6.8 percent, from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized -- that is, the interest will be added to the principle amount of your loan and additional interest will be based upon the higher amount. You may receive a subsidized loan and an unsubsidized loan for the same enrollment period.
Direct Loan Levels
|Loan Level||Loan Amount/YEAR
|Masters Degree Level||20,500*|
* Loan Amount can be reduced or prorated based on enrollment hours and enrollment terms as determined by the Financial Aid Office.
Teacher Education Assistance for College and Higher Education (TEACH) Grant Program, provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families and teach in a high-need field. TEACH Grant recipients must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. If a recipient fails to complete the service requirements all amounts of TEACH Grants received will be converted to a Federal Direct Unsubsidized Loan requiring repayment to the U.S. Department of Education. Interest will be charged from the date the grant(s) was disbursed. Contact the Financial Aid Office for more information.