Margaret Warner Graduate School of Education and Human Development at the University of Rochester
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Financial Aid: Student Loans

 

Student Loans
Federal loans are available to U.S. citizens and permanent residents who qualify, to help cover the costs of graduate study. In addition, many alternative loans are available to graduate students though lenders like Nellie Mae and Citibank. Full information and application materials are available from the University of Rochester Financial Aid Office.

Read our Student Loan FAQ for answers to commonly asked questions.

We recommend that you also consider the following options as you plan your graduate study:

Federal Direct Loans. As a graduate student, you may borrow up to $18,500 per year. A maximum of $8,500 may be a subsidized, interest-free loan determined by your eligibility. The remainder will be an unsubsidized loan. The actual amount you borrow cannot exceed the University of Rochester cost of attendance, minus any other financial aid you receive.

The federal government will pay the interest on your subsidized loan while you are a matriculated student enrolled for at least six credits per term and during your grace period. Interest will accrue on an unsubsidized loan while you are enrolled. You are not required to pay the interest, but there is no penalty for choosing to do so.

The standard loan repayment period for Federal Direct Loans is 10 years.

New York State Tuition Assistance Program (TAP). New York residents who will be full-time students (12 credit hours per semester, or 9 credits if holding an assistantship) can apply to this grant program. Eligibility is based on your annual NYS Taxable Income. TAP awards do not have to be repaid, but awards may be used only for tuition.

Student Loan FAQ

How do I apply for student loans?
As soon as you have been admitted to a Warner program, you need to contact the Financial Aid Office to begin the financial aid process. You will need to complete a Free Application for Federal Aid (FAFSA). Also, you will need to provide a completed Graduate Verification Statement and copies of your federal tax return to the Financial Aid Office. If you are applying for an alternative loan, you must complete a separate loan application, available online at www.enrollment.rochester.edu/financial.

Can I apply for student loans as a non-matriculated student?
“Non-matriculated” is defined as a student taking courses, but not enrolled in a degree program. While you are not eligible for federal student loans as a non-degree student, there are some alternative loans available through private lenders to help finance your certificate program. Be sure to discuss your options with the financial aid office to expedite the loan process.

I’m enrolling in a non-degree certificate program, am I still eligible for student loans?
While you are not eligible for federal student loans as a non-degree student, there are some alternative loans available through private lenders to help finance your certificate program. Be sure to discuss your non-degree status with your student loan officer to expedite the loan process.

I have student loans from my undergraduate study. Can I defer my loan payments while pursuing my graduate education?
Yes. To defer loan payments while enrolled in a graduate program, you must be registered at least half-time (6 credits) during each Fall and Spring semester, from the semester of matriculation through the semester of graduation.

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