Filing for Financial Assistance

The Office of Financial Aid offers Federal Stafford Loans, Federal Graduate PLUS Loans, and Alternative Student Loans to graduate students. Limited Federal Work Study opportunities are available.  Any other awards such as fellowships, teaching assistantships, etc., are offered through the student's college.  An explanation of the Stafford Loan Program and how to apply for loans follows.

STAFFORD LOANS FOR GRADUATE STUDENTS

Graduate students are eligible for up to $20,500 in Stafford Loans.  Of that amount, up to $8,500 can be subsidized, the remainder unsubsidized.  The federal government will pay the interest on your suvsidized loan while you're in school, for the first six months after you leave school, and if you qualify to have your payments deferred. Unlike a subsidized loan, you are responsible for the interest from the time the unsubsidized loan is disbursed until it's paid in full. The student pays the interest or allows it to accrue (accumulate) and be capitalized (that is, added to the principal amount of your loan).

Repayment begins after you graduate, leave school, or drop below half-time enrollment.  A six-month "grace period" is applied before you begin repayment.

Graduate students enrolled with 9 credits are considered full-time.  In order to qualify for a Stafford loan a student must be enrolled at least half-time (6 credits).  Students registered less than half-time may be eligible for an alternative loan.  Refer to the Frequently Used Loan List for additional information.

PLUS LOANS FOR GRADUATE STUDENTS

Graduate and professional degree students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other financial assistance.  Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS loan.

THE APPLICATION PROCESS FOR STAFFORD LOANS OR PLUS LOANS

To apply for a Stafford or PLUS loan, graduate students must complete and submit the following information:

    1.  Complete the Free Application for Federal Student Aid (FAFSA) which may be accessed at:  www.fafsa.ed.gov.  First you will need to obtain a pin number, if you do not already have one.  Go to:  www.pin.ed.gov.

    2.  Fill out the Lehigh Graduate Student Financial Aid Application.  You may pick up an application at the Financial Aid Office.  The Office is located at The Barnett House, 218 W. Packer Avenue. To print and complete select Lehigh Graduate Student Financial Aid Application link .  Please use care when filling out the Graduate Student application. All of the information requested is necessary for your application and loan(s) to be processed.

    3.  Submit a signed copy of the last completed calendar year Federal Tax Return and W2’s to the Financial Aid office.

OTHER REQUIREMENTS

If you have never had a Stafford Loan before or if you are borrowing from a new lender, you will need to fill out a Master Promissory Note (MPN) which is good for 10 years.  You may complete the Master Promissory Note online or the Master Promissory Note will be sent to you by your lender.

If you are a new borrower you will have to complete an Entrance Loan Counseling Session.