1. Financial Aid for Graduate Students
Office of Financial Aid & Scholarships

2. Kaili Benham kaili.benham@uni.edu Financial Aid Counselor
Office of Financial Aid & Scholarships

3. Financing Grad School Funding sources Deferment Federal financial aid
Scholarships
Assistantships, fellowships
Work
Deferment

4. Free Application for Federal Student Aid (FAFSA)
Determines how much federal aid will be awarded
Available October 1st each year - fafsa.gov
The earlier the FAFSA is completed, the better chance of receiving college/university specific grants

5. FAFSA Fact or Myth
Parents’ personal and financial information must be reported on the FAFSA.
(For graduate students)

6. FAFSA Fact or Myth
In almost all cases, graduate students are considered independent students and are not required to supply parent information on the FAFSA.

7. FAFSA Fact or Myth
It takes hours to complete the FAFSA and it’s expensive.

8. FAFSA Fact or Myth
Completing the FAFSA online is easy and free. Recent statistics show that it takes an average of 17 minutes for independent students to complete it.

9. FAFSA Fact or Myth
Private loans from my bank or credit union are as desirable as federal student loans.

10. FAFSA Fact or Myth
There are key differences between federal loans and private loans. Federal student loans offer several repayment plans, including an option to tie your monthly payment to your income.

11. Federal Financial Aid Direct Unsubsidized Loan Grad PLUS Loan
Can borrow up to $20,500 annually
Origination Fee: 1.069%
Interest Rate: 6%
Grad PLUS Loan
Origination Fee: 4.264%
Interest Rate: 7%
Borrower is subject to a credit check
TEACH Grant
Up to $4,000 annually for eligible students

12. Other Funding Sources Scholarships
Check with your school’s financial aid office
Online searches
Assistantships or Fellowships
Check with your graduate school/department
On-or-off Campus Job
Private Education Loans
Offered through private banks and lenders
This is a last-resort option

13. What to Consider When Taking Out Loans
Finance your education with free money first, then earned money, and, finally, borrowed money.
What is the source of the loan? Is it a federal loan or a private student loan?
What are the terms and conditions of the loan?
How will the amount you borrow in student loans affect your future finances, and how much can you afford to repay?
Repayment Estimator:

14. Loan Deferment
Grad students can have their loans deferred while enrolled at least ½ time
This process is done automatically based on enrollment information collected by your school

15. Resources National Student Loan Database (NSLDS) www.nslds.ed.gov
Financial Awareness Counseling
Repayment Calculator
Scholarship Search

16. Questions?