Federal Student Aid
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- Federal Student Aid
To be eligible to apply for and receive federal student aid, students must meet the following criteria:
- Be a U.S. Citizen or an eligible non-citizen (permanent resident or someone who has an Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services (USCIS)
- Have a valid Social Security Number (SSN)
- Be registered with Selective Services of you are male (you must register between the ages of 18 and 25)
- Have a high school or GED diploma
- Be accepted for enrollment as a regular student in a degree program
- Not have any defaulted loans
Important FAFSA Information
- The FAFSA application is available on October 1st of every year
- To file a FAFSA, you must have an FSA-ID. You can create one here.
- The FAFSA now uses a system called Prior-Prior Year. This means you must use your tax information from two years back.
- Our Federal School Code is 03076100
Types of Federal Student Aid Available
Federal Direct Unsubsidized Loan:
Direct Unsubsidized Loans are available to all FAFSA eligible graduate students. This is a non-need based award. It has an annual limit of $20,500 and a lifetime limit of $138,500 which includes all undergraduate Subsidized and Unsubsidized Loans.
Interest Rates for loans disbursed on or after 07/01/2017 and before 07/01/2018 are 6%. The origination fee for Unsubsidized Loans disbursed on or after 10/01/2017 and before 10/01/2018 have an origination fee of 1.066%. Interest rates for Unsubsidized Loans disbursed after July 1, 2018 and before July 1, 2019 are 6.6%. The origination fee for Unsubsidized Loans disbursed on or after October 1, 2018 and before October 1, 2019 is 1.062%.
Federal Direct Graduate PLUS Loan:
Graduate PLUS Loans are available to all FAFSA eligible students enrolled at least half time in a degree seeking program and do not have adverse credit history. The annual limit for the PLUS Loan is the student’s cost of attendance minus any other financial assistance the student is receiving.
Interest rates for PLUS Loans disbursed on or after 07/01/2017 and before 07/1/2018 are 7%. The origination fee for loans disbursed on or after 10/1/17 and before 10/1/18 is 4.264%. The interest rate for loans disbursed on or after 7/01/18 and before 07/01/19 are 7.6%. The origination fee for PLUS Loans disbursed on or after 10/01/2018 and before 10/01/2019 is 4.248%.
This loan does have its own application process and approval is based on a credit check. If the student has adverse credit history and is not approved, the student may submit a credit appeal to Federal Student Aid or apply with an Endorser.