A graduate acceptance letter must be received by our office in order to complete the awarding process.
If you are a first-time loan borrower, you must complete Pre-Loan Counseling. Because you are a graduate student, you have the option of completing Pre-Loan Counseling online or in person.
Difference between Subsidized and Unsubsidized loans: Subsidized Loan, the government pays the interest while you are in school and six months after you leave the university. Unsubsidized Loan, the borrower is responsible for all interest that is incurred. A 3% origination fee is deducted from each loan before funds are sent to the school. You must be enrolled in at least six hours in order to receive financial aid.
You must successfully complete at least 18 hours per academic year and maintain a minimum of a 3.0 grade point average (GPA). An academic year consists of fall, spring, and summer terms. An academic year begins in the fall. Summer terms are not mandatory, but are an option if you have not completed the required hours and/or GPA. Repeat courses are excluded.
The maximum loan amount, sub and unsub, that a graduate student is awarded is $18,500 per academic year. The maximum total loan amount is $138,500; this amount includes undergraduate and future degrees. Borrow only what you need!
Borrowers may decline or return loan proceeds at any time. Please inform your counselor of your decision and our office will process your request.
Once you leave, graduate or drop below six hours, you are given a 6-monty grace period before you are required to repay your loans. You may contact your school or lender to receive information on repayment or alternatives if you have difficulties repaying your loans. Two alternatives are deferments and forbearances. Students who withdraw from classes or leave the university during the semester may be required to repay funds awarded or acquire a balance with the university.
Overpayments may be available after tuition and fees are paid. If you have a housing balance, your housing fees may be applied to your account before an overpayment is disbursed. Check with the Cashier’s Office for disbursement dates.