Financing Options - Graduate Students
Federal Direct Graduate Loan
A Graduate student is the borrower of this federal credit-based loan.
- You must be a Graduate student enrolled at least half-time in a degree or certificate program at a participating school.
- You must be a U.S. Citizen or National or Permanent Resident/Other Eligible Non-Citizen.
- You must have a FAFSA on file.
- A credit check is required.
- Graduate students may borrow up to the cost of attendance minus any other financial aid received.
- Interest begins accruing at the time of disbursement.
- The interest rate is fixed and determined annually.
- The government withholds an origination fee from each disbursement.
- Graduate students will be required to sign a Master Promissory Note (MPN), a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education.
How to Apply
- Graduate students sign into www.StudentAid.gov using the FSA ID (username and password) the parent used to sign the FAFSA.
- Select the option “Apply for a Grad PLUS loan” then complete and submit the application.
- If approved, Graduate students will need to “Complete a Master Promissory Note" for a Grad PLUS Loan (MPN).
Private Alternative Loan
This private, credit-based loan is borrowed by the student and a creditworthy cosigner.
- This loan is offered through many lenders, such as banks, credit unions, state agencies, and other financial institutions.
- These loans are credit-based and may have either fixed or variable-interest rate.
- The loan application process is completed online and may take a minimum of four weeks for approval and subsequent processing by the University.
Please visit the Financial Aid Office for more information on applying for loans.