Financial Aid-Graduate Students
Stafford Loans:
- Graduate students are eligible for up to $8,500 in base Federal Stafford loans and up to $12,000 in additional unsubsidized Stafford loans per year, with an aggregate limit of $138,500. (No more than $65,500 can be subsidized Stafford Loans).
- Eligibility cannot exceed the student's cost of attendance.
- Cost of attendance budgets vary depending on the number of courses a student is enrolled in and the number of terms attended.
- Students must be enrolled at least half time (three hours per semester).
Alternative Loans:
Graduate students may also apply for non-Federal educational loans.
Private student loans (also known as alternative student loans or personal student loans) can help you pay for college, generally at better interest rates than other lines of credit.
You should only use private student loans as supplemental funding after you have exhausted all other sources of financial aid.
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As with any student loan, be conservative and only borrow what you absolutely need.
What Are the Advantages of Private Student Loans?
- Most private loans allow you to apply with or without a cosigner.
- Ability to cover any need unmet by Federal student loans.
- Most programs have variable interest rates that are based on your credit tier.
For information about interest rates (prime, libor, & t-bill) see “Definitions” and “Current Interest Rates” on Finaid.org.
How to apply for financial aid:
Complete the Free Application for Federal Student Aid (FAFSA).
- The FAFSA is available online at : www.fafsa.ed.gov .
- Use the FAFSA on the Web Pre-Application Worksheet as a helpful tool.
- Stephens' school code is 002512.
- You must complete a new FAFSA each academic year.
- For financial aid purposes, the academic year starts in the summer session and ends in the spring semester. For example, students who wish to apply for aid for Summer 2009 must complete a 2009-2010 FAFSA.
- Complete and submit the attached form to the Financial Aid office.
The Financial Aid Process
- In order for us to package your financial aid, you must:
- Be officially accepted.
- Be a degree-seeking student.
- Be enrolled at least part time.
- The amount of the award will be based on your enrollment for each semester.
- You will receive your award notification packet via email. When you receive your award packet, you may submit all loan paperwork electronically.
- You must also complete an online loan entrance counseling form at www.dl.ed.gov.
Please see Frequently Asked Questions for additional information about financial aid.
