How to finance graduate school?
If you are thinking about graduate school and are concerned about
the costs, financial aid options are available to you.
To be eligible for federal loans, you must:
- Be a U.S. citizen;
- Be enrolled at least half-time;
- Be pursuing a degree;
- Not be in default of any previous federal loans; and
- Complete the FASFA.
The FAFSA is the free application for federal student aid, and
collects information used to determine eligibility for the different
federal loan programs.
Additional Financial Aid Options:
To be eligible for this loan you must:
- Be enrolled at least half time in a degree program
- Show satisfactory progress toward a degree
- Be a U.S. citizen
- Meet minimal credit requirement
- Apply for the full graduate Stafford loan for the academic year; and
Be determined eligible once approved.
In general, you can qualify for this loan if you have a satisfactory
credit history. When you apply for the GradPLUS loan, a copy
of your credit report is obtained from a national credit bureau as
required by federal law.
Some adverse credit items will affect eligibility, including:
- Debts more than 90 days past due
- Unsatisfied judgments
- Unpaid collection accounts; and Evidence within the past five years of bankruptcy default, foreclosure, repossession, tax lien, wage garnishment, or write off of a Title IV student loans debt.
There are NO collateral requirements of income limitations.
Repayment of a GradPLUS—you have up to 10 years to repay
the loan. There is a minimum monthly payment of $50.
Repayment begins 60 days after the final disbursement of the
loan funds for that academic year (which means you begin
repayment while you are still enrolled in school); however, you
may be able to defer repayment as long as you are enrolled at
For additional Financial Aid information, contact:
Financial Aid Office