Student Loans

Graduate students applying for financial aid should follow the procedures listed under the Application Process.

Federal Direct Grad PLUS Loan for Graduate Student

Graduate students can apply for a Federal Direct Grad PLUS Loan. The PLUS loan allows students to borrow up to the cost of attendance, less any other financial aid. The lender is the U.S. Department of Education. There is a loan origination fee of 2.5 percent, which is deducted from the principal loan amount requested.

Eligibility requirements

• Admitted/matriculated and enrolled in a graduate or professional degree program
• Enrolled at least half-time and making satisfactory academic progress
• Cannot have an adverse credit history (a credit check will be done)
• U.S. citizen or eligible noncitizen and must meet general eligibility requirements for Federal Student Aid programs

 

Students can go on line and get a credit decision and, upon approval, complete the Master Promissory Note (MPN) by following the instructions below.

Step 1: Go to: www.studentloans.gov
Step 2: Sign in with your FAFSA PIN
Step 3: Request a PLUS Loan

PLUS Loan funds are disbursed directly to the student account in two equal installments. The interest rate is fixed at 7.9 percent. Interest is charged beginning on the date of the first disbursement. Repayment begins immediately after graduation or if you drop to less than one-half time attendance. A Disclosure Statement will be sent to the borrower from the Direct Loan Servicing Center.

Wells Fargo

Wells Fargo offers private loans for graduate and health professionals enrolled in a degree or certificate program, with fixed rates, no fees and no payments required while in school.

The National Student Loan Data system (NSLDS)

The NSLDS is an online central database that keeps track of all federal student loans. Perkins Loan and Pell Grant information may also be viewed via this Website. Loan information is transmitted to NSLDS from schools, lenders, and loan servicers. All information viewed is private and secure, and can only be accessed using a student's social security number, first two letters of last name, date of birth and FAFSA PIN.