Your Financial Aid Package
To apply for financial aid, you must complete the Free Application for Federal Student Aid (FAFSA). Once our Office of Financial Aid receives your FAFSA data—which generally is not available to the School until after February 15th—we can begin the evaluation process for determining your financial aid package. Financial aid packages typically include a mix of:
- Scholarships: These awards are gifts from the school and do not have to be paid back. Most of the awards are need-based (note: the only application consists of your FAFSA); the remainder are merit-based. Recipients of institutional scholarships are required to be enrolled full time and in fieldwork. If your enrollment or FAFSA data change your awards may also change.
- Federal Direct Unsubsidized Loan: This federal loan is available to any student who has completed the FAFSA, is not in default on a federal student loan, and has not exceeded their annual or lifetime loan limit. The Federal Direct Unsubsidized Loan has a fixed interest rate that is set annually by Congress on July 1st for loans disbursed through the following June 30. It is not a need-based loan and graduate students may borrow up to $20,500 each year.
- Federal Work Study: Federal Work Study (FWS) is a Federally-funded employment program designed to help qualifying students fund their education. Eligible students must have financial need as determined by their FAFSA. Funds are limited and priority in allocating funds is given to students registered full time. FWS funds reflect the maximum you can earn via an on-campus FWS-eligible job. FWS funds are paid to students as they are earned. They are not credited to the student’s account.
- Other types of loans: Based on your financial aid offer, you may be eligible for financial assistance from supplemental loans or outside sources. The difference between the total amount of awards in your financial aid package and your Cost of Attendance represents the maximum amount of additional funding you may borrow in either a Federal Direct Graduate PLUS Loan, which has a fixed interest rate, or a private educational loan, which has either a variable or fixed interest rate.
Additional Funding:
- Limited funds are reserved for Federal Work Study opportunities for eligible graduate students to secure on-campus paid employment.
- The School also has a limited amount of institutional loans available for students who are unable to secure a Graduate PLUS or private educational loan. The interest rate on these loans is 5 percent, with a 10-year repayment period. Loan amounts range from $2,000 to $10,000.