| Q. |
What is Financial Aid?
|
| A. |
Financial aid can take many forms. At Duquesne
University, graduate student financial aid
can be scholarships, assistantships, federal
work study, and student loans. |
| |
|
| Q. |
How do I apply for Financial Aid?
|
| A. |
For all scholarships and assistantships,
you need to speak with your graduate program
staff. Who receives this type of assistance
is determined at the department or program
level not by the Financial Aid office.
Eligibility for Graduate Student loans
and Federal Work Study are determined by
the Financial Aid office at Duquesne University. |
| |
|
| Q. |
Who can apply for a federal student
loan? |
| A. |
Only citizens and permanent residents of
the United States who are in good academic
' standing and enrolled at least half-time
in degree programs are eligible to apply for
federal loan funds. Most Graduate Schools
at Duquesne University define half-time as
registration 4.5 credits per semester. A student
must maintain at least half-time registration
during the entire period of time covered by
a loan. |
| |
|
| Q. |
What forms do Graduate Students
need to apply for federal student loans and
federal work study? |
| A. |
Initially, you need to complete the Free
Application for Federal Student Aid (FAFSA)
and a Graduate Aid Application. You can complete
the FAFSA online at www.fafsa.ed.gov. If you
have not completed a Graduate Aid Application,
you can download it at http://www.financialaid.duq.edu/studentforms.html |
| |
|
| Q. |
What is Duquesne University’s
code for the FAFSA? |
| A. |
003258. |
| |
|
| Q. |
Do I have to file a FAFSA each year?
|
| A. |
If you expect to receive federal student
loans or federal work study, the answer is
yes, even if your income does not change dramatically.
|
| |
|
| Q. |
What is the deadline to apply for
federal aid as a graduate student? |
| A. |
To receive maximum consideration for aid,
students must complete a FAFSA and a Graduate
Aid Application prior to May 31st each year.
|
| |
|
| Q. |
What are the federal loans that
are available to students? |
| A. |
Subsidized Federal Stafford Loan
Program
The Subsidized Federal Stafford loan is
a need based, variable interest loan. Subsidized
Stafford loans do not accrue interest while
the student is enrolled at least half time
in school. The maximum amount that a graduate
student may borrow in an academic year is
$8,500. In accordance with federal regulations,
each student will be subject to a needs
analysis. Need equals the student's cost
of education budget less any University
or outside supp' (including federal work
study, assistantships, and scholarships)
less expected student/spouse contributions-which
comes from the FAFSA.
Unsubsidized Federal Stafford Loan
Program
An Unsubsidized Federal Stafford Loan is
not based on financial need and is available
to students who have borrowed the maximum
subsidized Federal Stafford loan, or are
only eligible for a partial subsidized
Federal Stafford loan, or are not eligible
for any subsidized Federal Stafford loan.
A student who borrows unsubsidized loans
funds is responsible for interest; interest
accrual begins on the date of disbursement.
The maximum amount of both subsidized and
unsubsidized loans that a student may borrow
is $20,500 per academic year. A student's
eligibility is determined by subtracting
any aid to be received for the loan per'
(including other loan funds) from the cost
of education.
|
| |
|
| Q. |
Can my Financial Aid package exceed
the Cost of Education? |
| A. |
No. |
| |
|
| Q. |
What if my remaining Cost of Education
is larger than $20,500 for the academic year? |
| A. |
You may want to take out a Graduate PLUS
loan through a bank or agency. |
