The Financial Aid office, located in Mercy Hall, helps graduate students identify sources of financial assistance to help meet the cost of graduate education. Our regular office hours are Monday – Friday, 8:30 a.m. – 4:30 p.m., and special arrangements can be made for appointments outside of the regular hours.
All graduate students must complete the FAFSA and submit the Graduate Financial Aid Application to our office to be considered for aid.
If you are an Off-Campus Master's Degree student in the Education Cohort program, please visit the Off-Campus Master's Degree Financial Aid page.
USJ graduate students who have been accepted and matriculated into a graduate degree program or into the Teacher Certification program may apply for Federal Direct Loans by completing the following steps:
Step 1: Complete a Free Application for Federal Student Aid (FAFSA), at www.fafsa.ed.gov. (University of Saint Joseph school code: 001409) * If you have forgotten your FAFSA PIN, please visit the PIN website to request a duplicate PIN.
Step 2: If you are applying for the current academic year, 2013-2014, complete the 2013-2014 Graduate Financial Aid Application.
If you are applying for the next academic year, 2014-2015, complete the 2014-2015 Graduate Financial Aid Application.
Step 3: Follow the instructions for completing the Master Promissory Note (MPN) and Entrance Counseling under the Federal Student Loan section of our website.
Note: Students who become matriculated or are accepted into the Teacher Certification program after these days will be processed by Financial Aid as quickly as possible, but without guarantee of completion for the upcoming semester.
Satisfactory Academic Progress: To remain eligible for financial aid, you must be making satisfactory academic progress toward your degree as outlined by your academic program/major.
University of Saint Joseph students who received their undergraduate degree prior to completing their student teaching will be considered Teacher Certification students as outlined in column B (below) during their semester of student teaching.
Students who have applied to a graduate program but will not be matriculated prior to the mid-point of the semester are not eligible for the Federal Direct Loan. You may, however, apply for an Alternative Education Loan. Please visit our Alternative Loans page.
|Loan Programs & Limits||Accepted to a Graduate Degree Program||Teacher Certification Only (not accepted in a graduate degree program, but accepted into the Teacher Certification program)|
|Direct Subsidized Loan||No longer eligible*||$5,500|
|Direct Unsubsidized Loan||$20,500||$7,000|
Note: The loan amounts presented above are the annual program maximums. The actual amount you may borrow will depend on your financial aid need and actual cost of attendance. You should contact Financial Aid for additional information on application requirements and procedures. *Beginning with the 2012/13 Award Year, Graduate Students are no longer eligible for Federal Direct Subsidized Loans.
Borrow Wisely: Your graduate debt limit includes loans for undergraduate study. If you reach your Federal (Subsidized and/or Unsubsidized) aggregate loan limit, you cannot receive more of that type of loan. If you exceed your limit, aid already disbursed will be billed back. You will have to find alternative ways to finance your education. Therefore it is to your advantage to borrow only what you need for educational expenses, and to keep track of your cumulative debt. The Financial Aid staff is happy to work with you to find ways to minimize your borrowing.
Lifetime limits – Graduate/Professional $138,500 (maximum $65,500 subsidized)
The TEACH Grant – The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides up to $4,000 a year in grant assistance to students who are completing coursework toward certain high-need fields. In order to be eligible for a grant, a student must submit a FAFSA form and sign an Agreement to Serve as a full-time teacher at certain low-income schools and within certain high-need fields for at least four academic years within eight years after completing (or ceasing enrollment in) the course of study for which the candidate received a grant. The U.S. Department of Education will determine your eligibility for this program. The TEACH Grant converts to an Unsubsidized Direct Loan if the student fails to complete any part of the obligation. The loan, plus interest, must be repaid. Find out more information and sign the Agreement to Serve (ATS) to get started. If you are interested in applying for the TEACH Grant, please submit the USJ Teach Grant Application after completing the Agreement to Serve (ATS).
The Grad PLUS Loan – Once a graduate student has exhausted the Stafford Loan option, the Grad PLUS Loan may be available if additional funds are needed. This federal student loan has a higher interest rate than the Stafford Loan and requires the borrower to have an adequate credit history. Students are eligible to borrow up to the cost of attendance minus any other aid. Find out more.
Alternative Loans – Also known as Private Education Loans, alternative loan products are not backed by the federal government. They usually have variable interest rates based on Prime or LIBOR and rely on a credit review to calculate the initial rate of interest. Typically the student is the borrower and often a co-borrower is required to pass credit or receive a favorable interest rate. Interest accrues from disbursement. These loans may not be included in a federal consolidation. Find out more.
Credit Union Student Loan Program – If you have been unable to get funding through traditional student loan programs, you may be eligible for a loan through a Connecticut Credit Union through a program created by Governor Jodi Rell. Visit the Credit Union League of CT for participating credit unions.