Graduate Financial Aid

Let’s start off easy…
Federal funds are the place to start when financing a graduate school education –
Your first stop should be the Graduate Stafford Loan. Rates are not increasing this July making it the most affordable option, aside from scholarships, which are the best since they don’t have to be repaid. Apply for the Stafford loan for the fall semester. While funds will not be disbursed (sent to your school) until closer to the semester start date, it’s good to get the application done now.

Assume you were awarded the maximum Stafford loan funds but still have more unmet need (which most Graduate students do as programs are often more costly than undergraduate education). How do you finance the rest?
Graduate PLUS Loan – this loan has just been out for a year, is Federally backed (like the Stafford Loan) and allows you to pay up to the cost of education. It needs to be certified by the school and your school gets the funds.

What if you need the money yourself to help pay living expenses or buy a computer?
Private student loans are the way to go, as you receive the funds yourself. Rates are variable and based on the credit of you and/or your co-signer. But, again, you get the funds yourself so you can use them on whatever education related expenses you have.

One of the best features of all three loans mentioned above is that repayment on all is deferred until after you graduate – no worrying about making payments while in school!

This is a great site (with a new design) that will help Graduate students with graduate school financing.