Graduate students are eligible to receive up to $12,500 in Federal Stafford Loans each year. Graduate students must contact the Office of Financial Aid to request a Grad PLUS loan. The Grad PLUS Loan has the same interest rate as the Federal Stafford Loan for graduate students. Graduate students must fill out the FAFSA (Free Application for Federal Student Aid) each year in order to be eligible for federal financial aid. Students who need more than $12,500 should look into Parent Plus or Private Student Loans
Federal Student Loan For Graduate School
Graduate students are eligible to receive up to $12,500 in Federal Stafford Loans each year.
Graduate students are eligible to receive up to $12,500 in Federal Stafford Loans each year. You can borrow more than that amount by using Grad Plus Loans or Private Student Loans.
Graduate students must contact the Office of Financial Aid to request a Grad PLUS loan.
- Contact the Office of Financial Aid. The first step in applying for a Grad PLUS loan is to contact the Office of Financial Aid at your school, who will walk you through the process and help you fill out an application.
- Complete a loan application. Once you’ve made contact with your university’s financial aid office, they’ll help guide you through completing their online application form by providing instructions on how best to complete it, as well as offering up questions they may ask during review of your application. This forms part one of getting approved for this type of federal student loan; there are several more steps involved before you’re able to access any funds from it.
- Have good credit history and employment history/employment verification documentation ready when submitting an online request form or filling out paper-based forms available from most colleges’ financial aid offices (available upon request). Make sure that all information provided within these documents is accurate so that lenders can make informed decisions about lending money based on facts rather than assumptions about what might be true based off anecdotal evidence only – otherwise there could be consequences later down line such as having loans denied altogether because information provided was wrong!
The Grad PLUS Loan has the same interest rate as the Federal Stafford Loan for graduate students.
The Grad PLUS Loan offers the same interest rate as the Federal Stafford Loan for graduate students.
The interest rate is based on the federal interest rate, which is fixed and does not change over time. The interest rate for this loan is lower than other types of loans and will not be affected by your credit score.
The Graduate PLUS loan has an annual fee of 4% if you borrow less than $7,500, or 5% if you borrow more than $7,500 (the same as other federal student loans).
Graduate students must fill out the FAFSA (Free Application for Federal Student Aid) each year in order to be eligible for federal financial aid.
The FAFSA (Free Application for Federal Student Aid) is a form that all students must fill out. It determines how much money you can borrow, as well as any grants or scholarships you may be eligible for. The FAFSA is free, but you need to fill it out every year if you want to receive federal financial aid again.
The application can be found online at http://www1.ed.gov/finaid/. You will only need your FSA ID number and pin number from the previous year’s FASFA application, so be sure those are handy! The process doesn’t take long, and once completed it will appear in your myStudentAid account approximately two weeks later.*
The deadline for submitting a 2016-2017 FASFA is June 30th 2017; however this does not mean that you’ve missed the boat if you’re just now starting on your school search/application process! If possible submit an early 2016-2017 form right away so that any corrections or updates can be made before May 1st when most programs begin taking applications again.*
Students who need more than $12,500 should look into Parent Plus or Private Student Loans.
If you need more than $12,500 in loans for your graduate program, you may be able to borrow the additional money from your parents. A Parent Plus loan is a private education loan available to parents of dependent students through the federal government’s Direct Loan Program (sometimes referred to as “Stafford Loans”).
If you’re considering a Parent Plus loan as an option for financing your graduate degree, there are benefits and risks to consider.
- Benefits: You don’t have to make monthly payments until after graduation; interest accrues while you’re in school—but it doesn’t accrue at the same rate as other student loans (so when the time comes to pay back this debt, it’ll be easier on your budget). You can also use it in addition to any other federal or private student loans (e.g., Stafford or Perkins) that you take out while pursuing your degree if those other sources aren’t sufficient enough on their own.
- Risks: Unlike most types of federal student loans—which must be paid back with interest once they reach maturity date—there’s no such requirement with Parent Plus loans; however, it does increase the amount of total debt owed by both borrower and cosigner alike over time because interest continues building up until all principal plus accrued interest has been paid off completely through regular monthly payments made by either party once their child has graduated college or university successfully completed its coursework requirements after earning their respective degrees/diplomas successfully completing their studies at an accredited institution having followed all academic rules necessary
Graduate students can borrow Federal Student Loans and use other types of loans too.
Graduate students can borrow Federal Student Loans and use other types of loans too.
Graduate students can borrow Federal Student Loans and use other types of loans too.
Closing
Federal Student Loans are a great option for graduate students. They’re easy to apply for and can be used at almost any college or university in the country. If you decide to take out a Grad PLUS loan, make sure you understand the terms and conditions before signing any paperwork!