Graduate students may apply for federal Direct Unsubsidized Loans by completing the Free Application for Federal Student Aid (FAFSA).
- The FAFSA must be filed for each academic year (July 1 to June 30).
- Salve Regina's school code is 003411.
- This application may be completed after Jan. 1.
- You must sign the FAFSA electronically using the FSA ID you create through the Department of Education website.
The Department of Education may select you for a process called verification. If you are selected, you may have to submit additional information, and you will be notified by the Department of Education and our office as to what documents are needed.
Additional Required Documents
In addition to the annual FAFSA, the following documents are required:
- Federal Direct Loan master promissory note. This loan document has no dollar amount and is valid for up to 10 years in most cases.
- Federal Direct Loan entrance counseling session
After Your Financial Aid File is Complete
You must inform the Office of Financial Aid when registering for each enrollment period. Graduate students must be enrolled at least half time each semester to be eligible for federal financial aid. For the fall and spring semesters, half time is 4.5 credits. For summer sessions, 3 credits is considered half time. Doctoral candidates enrolled in the dissertation research and writing course qualify as at least half time.
If you are less than half time for any semester, or not registered for a given semester, you are considered to be on a leave of absence and your grace period for your loans begins after your last date of attendance.
Satisfactory Academic Progress
A cumulative GPA of 3.0 is required for a graduate degree or certificate. Students whose cumulative GPA falls below 3.0 in any given semester are considered to be on academic probation for the following semester. In order to be eligible for federal loans during this period, students must send a letter of appeal to the director of financial aid to request consideration to receive a probationary semester of financial aid. If approved, students will receive one additional semester of loans if they meet the other qualifications.
Loan amounts per semester are based on:
- Your tuition (per credit enrolled) plus fees
- A $100 book allowance for each course
- Living expenses (included only if you have at least one course on campus): $1,500 per fall/spring course (with a maximum of $4,500 each semester) and $500 per summer course (with a maximum of $1,500 each session)
Federal borrowing limits are $20,500 per academic year, with a $10,250 maximum for summer II/fall and summer I/spring (depending on individual lifetime totals borrowed).
If you wish to decline or reduce any part of your loan, you must notify your counselor in writing or from your Salve Regina email address, and we will adjust your loan accordingly. If you wish to only receive loans for tuition and fees each semester during your graduate program, you may notify us in writing, and we will process your loans based on this request each semester until we are further notified.
Students may not borrow a graduate PLUS loan until they have met their limit for federal Direct Unsubsidized Loan limits each semester.