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Loans

Federal Stafford Loans

If you are an independent for graduate or professional school, you may qualify for $20,500 in U.S. government loans:

  • Free Application for Federal Student Aid (FAFSA) required.
  • You must be a citizen of the United States.
  • You must register with Selective Service.
  • You must not be in default.
  • You must not have been convicted of a federal drug offense.
  • Up to $8,500 is a subsidized, need-based loan. (No interest accrues while you are at least a half-time student.)

Your need is determined by the following:

  • Cost of Attendance (This is set by each school, and costs can differ greatly between two schools in the same geographic area.)
  • Estimated Family Contribution (You are a family of one if you have no dependents.)
  • Eligibility to Borrow Up to $8,500 Subsidized.

You will be eligible, if you meet criteria above, to borrow $12,000 unsubsidized. (Interest accrues but may be deferred.) If no need is determined, you may borrow the full $20,500 unsubsidized. Interest is currently at 6.8%.

GradPLUS Loans

You may borrow additional money, up to the Cost of Attendance minus all other aid.

  • To qualify, you must have a good credit history. (Nothing on your credit report should be 90 days past due)
  • Fixed interest rate: 7.9%.
  • 2.5% origination fees.
  • Repayment does have a grace period.

If you need PLUS or private loans and you are not eligible to borrow, you may not be able to attend.

Access Group

Access Group is a nonprofit student loan provider that specializes in graduate and professional student lending. Their website features many articles and tools for students:

  • The WiseBorrower Curriculum is a series of online, interactive educational modules designed to help increase understanding of personal finance and debt management.

  • Calculators and an online loan ledger can help determine how much student loans will cost and help plan for successful repayment before you take out a loan.

A gateway to resources and articles to help students with every stage of financing their education.