The Financial Aid Office at St. Lawrence University will assist graduate and professional students in understanding various sources of financial aid to which they may be entitled. Financial aid for graduate students is offered on an annual basis. Students must re-apply for aid each year. Students must be matriculated and enrolled at least half time to be considered for Federal aid and most alternative loan programs.
Types of Financial Assistance
Loss of Subsidized Loan Eligibility for Graduate Students - Please Note
Effective for loans made for period of enrollment (loan periods) beginning on or after July 1, 2012, graduate students are no longer eligible to receive Federal Direct Subsidized Loans. The terms and conditions of Direct Subsidized Loans received by any student for loan periods beginning before July 1, 2012, for either graduate or undergraduate study, are not affected by this change.
The annual loan limit for graduate students remains unchanged at $20,500.
The Federal Stafford Loan:
An unsubsidized loan can be awarded regardless of financial need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow that interest to accumulate, it will be added to the principal amount of your loan. Graduate unsubsidized Stafford Loans first disbursed between July 1,2016 and June 30, 2017 have a fixed interest rate of 5.31 percent.
Matriculated graduate students may borrow up to a maximum of $20,500. Repayment begins six months after your graduate or fall below half time status with several payment options. As a first-time borrower, you need to go to www.studentloans.gov to complete the Federal Direct Unsubsidized Loan Master Promissory Note and entrance counseling. You will need your FAFSA pin number to complete these tasks.
You are required to complete a separate Master Promissory Note (MPN) for your Grad PLUS loan which is good for 10 years.
There is no set annual borrowing limit on the Grad PLUS loan. Graduate Students may borrow up to the cost of their education minus all other accepted financial assistance.
Alternative Educational Loans
Tuition Assistance Program (TAP) (New York State Residents Only)
For more information, visit HESC’s website.