How do I apply for financial aid? Fill out the FAFSA (Free Application for Federal Student Aid) at www.FAFSA.ed.gov for the upcoming academic year. We will confirm receipt of your FAFSA and request a supplemental financial application from you via email approximately 10-15 business days after the FAFSA has been submitted.
What kind of financial aid am I eligible to receive? Graduate students are eligible for federal direct loans as long as they are in a matriculated program.
How much student loan money can I borrow? Graduate students can borrow up to $20,500 in a given academic school year. Part‑time undergraduate students can borrow up to $12,500 in a given academic school year.
How many credits to I need to take in order to receive financial aid? Graduate student and part-time undergraduate students must take a minimum of six credits in a given semester to receive federal aid. Students taking less than six credits may apply for a private education loan.
Which supplemental form should I fill out? You should fill out the form associated with your program. On-Campus graduates must complete the On-Campus supplemental form. Off-Campus graduates must complete the supplemental form associated with their program’s start month/year.
If I receive tuition reimbursement from my employer, do I need to report it on my supplemental application? Yes, you will need to report any type of employee assistance on the Financial Aid Supplemental Application.
Does Cabrini or the Department of Education offer any grants for graduate students? Neither Cabrini nor the Department of Education offer any grants for graduate students.
What is the difference between the Subsidized/Unsubsidized direct loan and Graduate PLUS loan? Subsidized/Unsubsidized loans are student loans granted to all FAFSA applicants. They do not require a credit check. Graduate PLUS loans only can be utilized when subsidized/unsubsidized loans have been used up in a given academic year. Graduate PLUS loans require a separate application and credit check.
Which Master Promissory Note (MPN) should I sign? All graduate/part-time students complete the Master Promissory Note for the Subsidized/Unsubsidized loans. To complete your Master Promissory Note, go to www.studentloans.gov.
When do I begin repayment of my student loans? Federal direct loan payments are deferred until six months after graduation. For questions about repayment, contact Direct Loan Servicing at 1-800-848-0979. Private education loans have may have varying repayment terms.
How do I defer my student loans? If you are enrolled at least part-time as a graduate or undergraduate student, your enrollment information will be sent through a clearinghouse to all lending parties involved. If you re-enroll into a program after a leave of absence, you may need to fill out an enrollment verification form at the Registrar’s Office in Grace Hall to be sent to the U.S. Department of Education and/or American Education Services.
You may wish to consult the Financial Aid Office in order to determine to whom this form should be sent. In some instances, both parties will have to be notified.
Why would I have a financial aid hold on my account? There may be a number of different reasons why you may have a financial hold, e.g. supplemental form not submitted/incomplete, incomplete or incorrect Master Promissory Note, incomplete Loan Entrance Counseling, verification documentation missing.
Can I use my loan money for books? If your tuition has been paid and you have a credit on your account, you may use loan money for books in the form of a book voucher.
If I have a credit on my account when will I receive my refund check? Refund checks are issued after the last day to add/drop classes. Only book vouchers can be used before that time.
How do I apply for student loan forgiveness? You may qualify for student loan forgiveness after graduation if you meet certain criteria. More information is available at www.federalstudentaid.ed.gov/tc.