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Loans
While we cannot meet the needs of all applicants with scholarship support, many students finance their education with a combination of scholarship and loans.
The primary loan program used for graduate students is the federal Stafford loan program. The specifics of this program are outlined in the section on Loan Types. The Stafford loan program allows a student to borrow a maximum of $20,500 an academic year. The exact amount each student can borrow is determined by the "cost of education" minus any scholarship support the student is receiving.
Since the federal Stafford loan program has strict annual borrowing limits ($20,500 a year), more and more students are turning to Grad PLUS and Alternative loan programs to finance the remainder of their educational expenses. This allows students to borrow the total cost of education, less other aid they are eligible to receive.
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