graduate student Financial Aid INFORMATION
2018-2019 Required Forms for graduate students
If you need to apply for the school year of summer 2018-2019, please contact the Financial Aid Office for the correct forms.
Loan Application Links
Direct Loan Information
The student has the right to reject any particular type of financial aid or other assistance.
Graduate Student Information
The majority of students enrolled in the Graduate School of Biomedical Sciences as a degree candidate have scholarships and stipends available to them that are awarded by the individual degree-granting programs or by the Graduate School. Based on the student expense budget, graduate students receiving the scholarship and stipend are not typically eligible for other types of financial aid.
If you're a graduate student enrolled as a degree seeking student in a Master of Science, Master of Arts or Master of Public Health program on at least a half time basis, you are eligible to apply for financial assistance which includes the Federal Student Loan Programs (see the Graduate Student Loan Information section below). Non degree seeking students or students enrolled in Certificate programs are not eligible for federal financial aid. Application materials must be completed on a yearly basis. Please refer to the application materials. You can use estimated information when filling out your forms (see the Graduate Student Forms section below). Financial aid applications are evaluated on the basis of income, assets, family size and other relevant information for the student/spouse. To be eligible for any financial assistance you must be a U.S. Citizen or an eligible non-citizen.
Graduate Student Loan Information
On August 9th, 2013 the Bipartisan Student Certainty Act of 2013 was signed into law. Under this Act, interest rates will be determined each June for new loans being made for the upcoming award year, which runs from July 1 to the following June 30. Each loan will have a fixed interest rate for the life of the loan.
The interest rate is now determined by using a rate equal to the high yield of the 10-year Treasury Note auctioned at the final auction held prior to June 1st plus 3.6% for the Federal Direct Unsubsidized Stafford loan and plus 4.6% for the Federal Direct Grad Plus loan.
Federal Direct Unsubsidized Loan Program
The Federal Direct Unsubsidized Loan is a non-need-based loan obtained through the U.S. Department of Education. The maximum amount per year is $20,500 for graduate students. Master of Public Health students may borrow up to $35,778 annually if enrolled for fall, spring and summer. The lifetime aggregate maximum for the Federal Direct Unsubsidized Loan is $138,500 for all graduate students except those in the Master of Public Health program where it is $224,000. There is no interest subsidy on this loan and repayment will begin 6 months after you are no longer enrolled in school on at least a half time basis. Please see the chart below for interest rates and loan fees that will be paid to the U. S. Department of Education by way of fees deducted from your check before it is disbursed.
Federal Direct Graduate PLUS Loan
You can borrow up to the total cost of attendance at MCW minus any other financial aid you receive. There is no interest subsidy on this loan and repayment will begin 6 months after you are no longer enrolled in school on at least a half time basis.
Private Educational Loan Programs
Private Educational loan programs have various interest rates, loan amounts, fees, etc. based on the lender. To view a list of historical lenders, please review MCW's FAST Choice site. You may qualify for loans or other assistance under the Title IV, HEA programs. The terms and conditions of the Title IV, HEA program loans may be more favorable than the provisions of the private education loans.