Federal Stafford Loans +

You are an independent for graduate or professional school and you may qualify for $20,500 in US Government Loans:

  • FAFSA required
  • U.S. Citizen or PR
  • Register with Selective Service
  • Not in default
  • Not convicted of federal drug offense
  • up to $8,500 is a subsidized need based loan (no interest accrues while at least half time)

Your NEED is determined by:

Cost of Attendance (set by each school and costs can different 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) or if no need is determined, you may borrow the full $20,500 unsubsidized.  Interest is currently at 6.8%.

GradPLUS Loans +

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 +

Access Group is a nonprofit student loan provider that specializes in graduate and professional student lending.  Their web site features many articles and tools for students.

www.accessgroup.org/financial-aid-administrators/ The WiseBorrower Curriculum in the left margin is a series of online, interactive educational modules designed to help increase understanding of personal finance and debt management.

https://www.accessgroup.org/calculator# Calculators and an online loan ledger to determine how much student loans will cost and to help plan for successful repayment before a student takes out a loan.

www.accessgroup.org/paying-for-school/ The gateway to resources and articles to help students with every stage of financing their education.