Additional Funding Sources for Graduate Students

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.

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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.

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