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GRADUATE STUDENT FINANCIAL AID
Academic Year 2008-2009
Graduate Student Financial Aid
Academic Year 2008-2009
Graduate student financial aid at Salve Regina University is available in the form of loans. Some employers may reimburse students for certain educational expenses. Veterans should contact the Veterans Administration for information on available benefits.
On this web site, you will find links to other sites where you can research available outside scholarship opportunities. You will also find links to web addresses and forms for the application process.
Eligibility for federal financial aid is limited accepted students enrolled at least half-time in a degree or certificate-granting program. (Conditionally accepted students are eligible for a maximum of two semesters.) The information you provide on the Free Application for Federal Student Aid (FAFSA) will be used to verify other eligibility requirements, including citizenship status, selective service registration and loan history.
Cost of Attendance
For graduate students, the cost of attendance is based on each individual’s course load. For this reason, loan eligibility is not calculated until the enrollment period begins. Each student has a budget based upon actual direct costs (tuition and fees). An estimated book allowance is also included. Students who are taking courses on-site are eligible for a modest allowance for living expenses, depending on course load. Students taking only online and/or self-paced classes are not eligible for living expenses.
Credit hours and course extension fees cannot be used for more than one enrollment period, and classes that are repeated are not eligible for additional financial aid.
Federal and Alternative Loans
Loans are processed at the end of each drop/add period. Funds may take up to three weeks to be received and posted to the student’s account in the Business Office. Students who are enrolled in online and self-paced classes should contact the Office of Financial Aid for details on loan processing and disbursement. If you are expecting a refund for living expenses, please contact the Business Office.
Information on Alternative Loans
Alternative loans are also available for students. Repayment options tend to be much more limited than Federal loans and, generally, have a higher, variable interest rate. Repayment of these loans may be deferred, but interest continues to accrue during deferment. While these loans may be a viable option for bridging the gap, we recommend caution. A student who borrows under the Federal loan programs will have a manageable amount of student loan debt upon graduation. If large alternative loan amounts are added to that debt, it may become extremely burdensome.
The following lenders have been used frequently by our students and have provided excellent service and benefits to our families. (Your state higher education agencies and other private lenders may also offer alternative student loans with attractive benefits and interest rates.)
Lender |
Fees |
Interest Rates |
Loan Limits |
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0% |
Variable as low as 6.0% |
Cost of Attendance minus other aid |
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0% |
Variable as low as 5.11% |
Cost of Attendance minus other aid |
|
4% |
Fixed at 7.74% |
$35,000.00 |
|
0% |
Variable as low as 5.11% |
Cost of Attendance minus other aid |
| Wachovia Private Loan |
0% |
Variable as low as 4.50% |
Cost of Attendance minus other aid |
Since each graduate student’s financial aid is calculated based on the individual’s unique schedule and charges, it is your responsibility to inform the Office of Financial Aid of any changes to your schedule for each enrollment period.
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