Is financial aid available to graduate students?
Yes. If a student is a U.S. citizen or eligible noncitizen attending Fairfield University, he/she is eligible to apply for federal student aid by completing the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. Currently, the only aid available for graduate students is through the federal student loan programs.
Are there any other financial aid or assistance opportunities available to graduate students beyond the federal student loan program?
Yes. There are a limited number of graduate assistantships available through the various departments on campus. Additionally, the Dolan School of Business offers assistantships and scholarships for graduate students enrolled in the Dolan School of Business.
Is there a deadline for completing the FAFSA for graduate students?
While there is no specified deadline for completing the FAFSA, it is recommended that it be completed at least four weeks prior to the semester in which a graduate student may need financial aid.
Can I borrow student loans to cover my living expenses?
Yes. Student loans can cover your direct costs (tuition and fees) and indirect costs (books and supplies, personal, travel, and living expenses). The amount a student is eligible to borrow is limited to what Fairfield University has determined to be the cost of attendance for a particular program.
When will my student loans be received by Fairfield University?
Generally, student loan proceeds will be credited to a student's account on the first day of the semester. The Office of the Bursar will use what is necessary from the loan proceeds to cover an account balance; if applicable, a student will be refunded excess loan proceeds shortly thereafter.
Are my student loans renewable each year?
No. Students must file the FAFSA every year in order to qualify for student loans. It is recommended that the FAFSA be completed online at www.fafsa.ed.gov. The Stafford Loan Master Promissory Note is a serial application and only needs to be completed once.
What is financial need?
Once the processing center receives a completed FAFSA, the federal agency follows established guidelines to calculate the contribution a student can be expected to make toward the cost of his/her education. This information is shared with the colleges that may be listed on the FAFSA. A student's "financial need" is the difference of the Expected Family Contribution (EFC) and the amount Fairfield University estimates it will cost to participate in a graduate program for one academic year, or the cost of attendance.
How is my financial need used in calculating my aid package?
Depending on a student's financial need, he/she may be eligible for different types of federal loans. A student with significant financial need will qualify for a subsidized Stafford loan, where the interest is paid by the government while the student is in school. A student who does not demonstrate significant financial need will qualify for an unsubsidized Stafford loan, where the interest accrues while the student is in school. No payments are required on this interest while a student is in school, but payments are recommended.
Will my application for student loans affect my application for admission?
No, applications for admission are evaluated separately from requests for financial aid.
If I receive a graduate assistantship, does that affect my eligibility for financial aid?
Yes. Graduate assistantship benefits are counted as a source of financial assistance and will be used when determining a student's eligibility (or financial need) for a subsidized Stafford loan.
Please contact the Office of Financial Aid with further questions at: email@example.com.