GRADUATE STUDENT FINANCIAL SERVICES
- Summer 2023 Fee Payment Deadline: May 8, 2023
Multiple methods can be used to cover your program costs. You may use one or a combination of any of the following:
- Student Loans
- Wire Payments
- Tuition Reimbursement
- Graduate Assistantships
- Veterans Benefits
Types of Financial Aid
To determine your eligibility for federal direct funding, you must first complete your FAFSA application at studentaid.gov. This requirement must be satisfied every academic year.
- Unsubsidized Stafford Loan
- For graduate students, the current interest rate for direct unsubsidized loans is 6.54%.
- Must be enrolled in at least 4.5 credit hours
- Credit based
- For Direct PLUS Loans first disbursed on or after July 1, 2022, the interest rate is 7.54%. This is a fixed interest rate for the life of the loan.
- Provides additional funding for educational expense
- Additional aid after you have reached your federal Stafford loan limit or do not qualify
- Private lender
- Interest rates vary based on credit approval
Financial aid can award up to $30,750 in the direct unsubsidized loan to students that meet qualifying requirements.
HOW TO MAINTAIN FINANCIAL AID
SAP PROCESS (SATISFACTORY ACADEMIC PROGRESS) Click to Learn More
PASS 67% OF YOUR CLASSES ATTEMPTED
Your GPA or Pace may be negatively affected by unexpected events that interfere with your ability to study and complete tasks. These unexpected events may even result in your failing to achieve Satisfactory Academic Progress (SAP). When this occurs, you may be placed in an SAP Warning, SAP Not Met, or Maximum Time Frame status. If this happened to you, you may submit an appeal to ensure you continue to receive your federal financial aid.
The U.S. Department of Education requires students who are receiving federal student aid to complete their degree within 150 percent of the time frame. Time frame is evaluated by the number of hours attempted. Students who are unable to graduate within the 150 percent time frame lose eligibility for financial aid when the hours needed to graduate and the hours attempted exceed the 150 percent limit.
For example, if your associate degree requires 60 semester hours to complete, you must be able to graduate with no more than 90 credit hours attempted. If you have attempted 45 semester hours and have 25 hours remaining, the total hours needed to graduate are 70. You are no longer eligible for financial aid without an approved appeal.
If you are pursuing a bachelor's degree that requires 120 semester hours to complete, you must be able to graduate with no more than 180 credit hours attempted. If you have attempted 135 semester hours and have 50 hours remaining, the total hours needed to graduate are 185. You are no longer eligible for financial aid without an approved appeal.
In addition to the Appeal documents, you will also need an Academic Plan that outlines the courses required for graduation. You will need to strictly adhere to this plan to remain eligible for financial aid.
You may not be meeting the 67 percent completion rate required, or you may have exceeded the maximum hours allowed to complete a degree. Keep in mind that although withdrawing from a course will not affect your GPA, the "W" grade you receive means that course is counted as hours that were attempted but not successfully completed.
Verification is a process used to verify certain information on the student's FAFSA to ensure its accuracy.
Notification is sent to the student's PAWS e-mail account and will state that there are outstanding requirements. The student may review their requirements via the PAWS account. The student's PAWS account will list the document requirements and their status. Students also may be mailed or e-mailed additional required documents.