- Knowing Your Expectations for Your Degree
- Strategizing Your Class Schedule
- LSA Transfer Student Program
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%.
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 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.