Federal Loans

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Type

Program

Amount/Benefits

Comments/Criteria

Federal Direct Unsubsidized Stafford Loan

All

Up to:

$33,000 PsyD

$20,500 PhD, MA

  • Must submit FAFSA
  • Fixed 6.21% interest rate for loans disbursed on or after July 1, 2014 and before July 1, 2015.
  • Origination fee of 1.072% for loans first disbursed between December 1, 2013 and September 30, 2014; fee is 1.073% for loans first disbursed October 1, 2014 or later.  
  • Interest accrues upon disbursement
  • No payments while enrolled at least half-time and six-month grace period following graduation.
Federal Perkins Loans                $2,000
  •  Must submit FAFSA, priority given to those who submit it by April 15
  • Graduate students with exceptional financial need

Federal Direct PLUS Loan

All        

Up to cost of educational expenses less other aid accepted

  • Must submit FAFSA
  • Fixed 7.21% interest rate for loans disbursed on or after July 1, 2014 and before July 1, 2015
  • Origination fee of 4.288% for loans first disbursed between December 1, 2013 and September 30, 2014; fee is 4.292% for loans first disbursed October 1, 2014 or later.
  • Application directly through www.studentloans.gov

Federal Work-Study

MA

Amount to be determined based on funding

  • Wages paid by Federal government
  • Must submit FAFSA
  • Funding is limited and awarded on a first-come, first-served basis.

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