Type Program | Program Information | Annual Award Limits | Requirements |
---|---|---|---|
Type Program | Program Information | Annual Award Limits | Requirements |
Institutional |
Colleges and Universities offer institutional grants for some graduate and professional programs. Check your school for information. |
Limits set by the school. |
Student must be enrolled in the graduate or professional program. Other school requirements may be applicable. |
Work-Study
Programs more information from Dept. of Ed.
|
Student will work a set number of hours for the school or approved public-service related company. Money is earned: does not have to be repaid. Graduates paid on a hourly basis or by salary. |
No annual maximum |
Student must file the FAFSA form. School disburses earned funds to students. Submit your application for work study through your school. |
Federal Perkins Loans more information from Dept. of Ed. |
Loan: must be repaid. These are low-interest rate loans (5%) available to students with exceptional financial need. The loan does not charge origination fees. |
Annual Amount:$6,000 for graduate students Maximum amount: |
Student must file the FAFSA form. Your school becomes the lender using funds shared by the federal government. You must repay this loan to your school. Submit your application for Perkins Loans through your school. |
State Agencies |
Individual states offer financial aid programs for state residents and in some cases out-of-state residents attending in-state schools. Financial aid may include grants, scholarships, financial aid assistance, and some loan programs. |
Financial assistance may vary by state. |
Financial aid qualifications can vary by individual state. |
Federal Stafford Loans
|
Unsubsidized Federal Stafford Loans:
Loan funds will be sent to the school and disbursed in at least two installments. The funds will first be applied to pay tuition, fees, room and board, and other school charges. Any remaining funds must be used for paying education-related expenses.
|
gradudates: |
Student must file the FAFSA form. Loan restricted to education-related expenses only. Student must be enrolled at least half-time in a degree or certificate program at an approved school. Direct Stafford Loans: The federal government provides funds to schools; FFEL Stafford Loans: private lenders provide funds to schools to disburse to students |
Federal
|
Graduate and professional students can borrow under the PLUS loan program on their behalf. Loan funds will be sent to the school. The loan will be disbursed in at least two installments; no installment will be greater than half the loan amount. The funds will first be applied to pay tuition, fees, room and board, and other school charges, even travel. Any remaining funds must be used for paying education-related expenses. |
The annual limit is equal to the total cost of attendance (including travel) minus any financial aid received. You must first accept all Stafford Student Loan you are eligible for before you may borrow under the Graduate PLUS program. |
Student must file the FAFSA form. Student must pass a credit check to qualify or have a relative or friend who can pass the credit check co-sign the promissory note. Loan restricted to education-related expenses only. Student must be enrolled at least half-time in a degree or certificate program at an approved school. |
Private Student Loans
or dial |
Private student loans are used to make up the
difference between total cost of school and any
financial aid received. Most private loan programs have higher borrowing
limits than federal loan programs.
|
From $1,500 to $30,000 annually; the aggregate program maximum is $130,000 |
You must have a satisfactory credit history. Learn about building and maintaining a good credit history You must meet the credit guidelines for employment and residency. If you can't meet these guidelines, you may request your parent or another to co-sign for the loan. Graduate and professional students must be enrolled at least half-time in a degree or certificate program at an approved school. Less than half-time attendance are considered under the continuing education program. Funds disbursed directly to the student. |
Home Equity Financing
|
Private loan program where the lender opens a credit line on your behalf (or your parent), which credit line is secured by the equity value of your or your parent's home. You will use equity line checks or online transfer capabilities to pay for education or other expenses. The line of credit can be used at any time and for any expense up to your approved credit line balance. |
No annual limit restrictions. Your amount is subject to your approved equity line balance. |
You must have equity value in your home. You must meet the lenders credit criteria and credit check. There is no limitation or restrictions on the use of the funds. |
Investment |
State529 Plans Qualified investment plans that can be used to pay education expenses. Contributions are after-tax, but earnings in the fund are tax exempt. Funds are available to any named beneficiary. The beneficiary can be the contributor. Two types of plans:
Education IRAs IRA plans that can be setup for education. Contributions are after-tax, but earnings in the fund are tax exempt. The IRA can be used to pay for higher education and K-12 education expenses. |
Limitations subject to the available amount in the plan. |
Plan must be setup in the name of the beneficiary. Withdrawals are tax-exempt if the funds are used to pay for education-related expenses. Penalties may apply for payment of non-education expenses. |
IRA Plans More information from the IRS: |
You can make withdrawals from your IRAs for qualified higher education expenses without having to pay the 10% penalty tax. | Limitations subject to the available amount in the plan. |
You will owe income tax on at the amount withdrawn from the plan. |
Scholarships |
Scholarships are available from many private and educational institutions. This type of financial aid does not have to be paid back. The more common form of scholarships are athletic and academic. However, there are a number of scholarships awarded for other achievements. |
Limits subject to scholarship award and program. |
Scholarships may require an essay, written exam, or some demonstration /document of your eligibility. get
some help Scholarship funds will be sent to the college directly on your behalf. |
Other
Financial Aid![]() |
See
our Financial Aid Note: types of financial aid available ![]() |
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