Attention Graduate Students
Effective for loan periods beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Direct Subsidized loans. After that effective date, graduate and professional students may borrow only unsubsidized loans with an interest rate of 6.8% that begins accruing interest from the date of disbursement.
Students must be fully admitted to a degree seeking program before they can receive financial aid. Students who want to receive financial aid as a graduate or post-baccalaureate student must file the FAFSA and fill out an application for a Stafford Loan. You will need to complete a loan application for each semester you need financial aid. You can complete a Direct Loan Application on-line. Please review the following eligibility statements to determine if you have to complete additional steps to complete your Financial Aid requirements.
Graduate Students and Financial Aid Eligibility
In order to be eligible for financial aid, graduate students must be fully admitted through the College of Graduate and Continuing Studies to a degree seeking graduate program and be enrolled at least half-time (3 credit hours) in graduate courses specific to that program. They must also have on file a valid FAFSA. The loan limits for graduate students are $8500 subsidized and $12,000 unsubsidized for the academic year. The total aggregate limit for graduate student is $138,500. This total includes all undergraduate loans. A graduate student must also maintain satisfactory academic progress and at least a 3.0 gpa.
Post Baccalaureate Teacher Certification Students and Financial Aid Eligibility
In order to be eligible for financial aid, a Post Baccalaureate (PB) student working on Teacher Certification must be fully admitted through the College of Graduate and Continuing Studies. The student must also be working with the Education Department to map out their plan of action and must sign a Post Baccalaureate Student Qualification for Federal Loan form with the Financial Aid Department. The PB student must be registered for at least 6 undergraduate hours that are on their plan of action sheet supplied by the Education Department. If a class is not specifically from their list of undergraduate courses, the class cannot be used in the calculation of financial aid. Undergraduate loan limits apply to PB students ($12,500 subsidized and unsubsidized for an academic year). Loans are limited to one calendar year unless the student has been formally admitted to the teacher certification program.
Post Baccalaureate Preparatory Coursework and Financial Aid Eligibility
A student working on pre-requisites for another Title IV aid eligible program must be admitted through the College of Graduate and Continuing Studies as a Post Baccalaureate student. Usually the student is working on courses necessary for admission into a graduate program. Financial aid eligibility can be granted for one calendar year. The student must produce for the Financial Aid Office an official letter and list of courses needed from the program they are doing the pre-requisites for. They must also sign a Post Baccalaureate Student Qualification for Federal Loan form with the Financial Aid Office. Only those courses listed from the program are used for calculation of loan eligibility. The student must be registered for at least 6 hours.
Students that do not fulfill above requirements may be eligible for alternative loans. Please visit www.collegelenderlist.com for more information and application process.
Appealing Financial Aid
To download the appeal form, please visit: www.drury.edu/fa. Please send appeal and documentation to the Financial Aid Office in Springfield.