A graduate degree requires an investment of time and money but returns great value. When you decide to attend UJ, you will grow as a professional, as well as personally, intellectually, socially and spiritually.
To be eligible, the graduate student must:
|•||Complete the Free Application for Federal Student Aid (FAFSA) if “Federal Direct” loan is desired (www.fafsa.ed.gov).|
|•||Not be receiving aid as an undergraduate for the same period of enrollment.|
Types of Financial Aid for Graduate Students
Federal Direct Student Loans
The Unsubsidized Federal Direct Loan is not based on financial need and interest is charged throughout the life of the loan. Students can choose to make monthly interest payments or allow interest to capitalize. If interest is capitalized, it is added to the principal balance of the loan and the Department of Education will charge interest on the new principal amount. This option will increase the total amount repaid over the life of the loan. The U.S. Department of Education is the lender and will assign a loan servicer to the loan.
How to apply?
|1.||File a FAFSA|
|2.||Once financial aid eligibility is determined, students will receive a financial aid award letter by postal mail for their initial year of enrollment and via their MyUJ account thereafter.|
|3.||Students may accept all or a portion of their awarded loans. All terms and conditions of the loans should be read before accepting the awarded loan amounts. Before loan funds can be disbursed to student accounts, students must complete:
Federal Graduate PLUS Loans
The Graduate PLUS Federal Direct Loan is a federally sponsored loan program that allows graduate students to borrow, after all unsubsidized loans have been exhausted, to meet educational expenses. Information about applying for the Graduate PLUS Federal Direct Loan can be found at https://studentloans.gov/myDirectLoan/launchPLUS.action?plusType=gradPlus
It is recommended that students exhaust all federal, state and university scholarships or grants, and federal subsidized direct loans before seeking a private loan. Private loans help students bridge the gap between federal aid eligibility and the cost of attendance. Private loans are based on credit-worthiness, may offer fixed or variable interest rates, and may require students to submit a FAFSA.
Choosing a lender is an important financial decision. We encourage students to extensively research private loan lending options to identify the lender whose terms best meet their needs. We maintain a preferred listing of private lenders through which we have processed private loans for our students. Loan options can be compared and applications accessed from choice.fastproducts.org. For a more in-depth look and comparison of participants in the Private Loan program visit finaid.org. We will certify a private loan through any lender for an eligible student, whether that lender is on our preferred lender listing or not.
NOTE: A separate Private Alternative loan application is required for each academic year.
The following is a list of criteria that should be considered when selecting a lender:
|1.||Interest Rates:||Interest rates charged during loan repayment.|
|2.||Fees:||The percent of fees, if any, charged to borrow an alternative loan.|
|3.||Co-Signer Release:||Whether or not a co-signer can be released from repayment responsibilities after a certain number of repayments.|
|4.||Repayment:||Options differ per lender and are separate from federal direct student loans.|
Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study.
Outside Financial Resources
The University of Jamestown works with all third party vendors in relation to scholarship or employee reimbursement opportunities.