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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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