FINANCIAL AID

Affordability + Excellence = A University of Scranton Online Master’s Degree
When it comes to choosing an online graduate degree program, there are many factors for you to consider. The University of Scranton simplifies your decision by offering a highly-credentialed, respected graduate degree program that is surprisingly affordable. In fact, Scranton has been recognized for eight consecutive years as one of the "Great Schools at a Great Price" among master’s universities in the North by US News & World Report, a ranking that relates academic quality to the cost of attendance. In addition, US News & World Report's 2012 edition of Top Online Business Programs ranked The University of Scranton's Online MBA #1 for Student Engagement and Accreditation.

At The University of Scranton, we believe that cost should not deter qualified candidates from pursuing their goal of earning an advanced degree through our online graduate program. We provide a variety of resources and opportunities for you to continue your education without sacrificing the quality of your degree.

Applying for Federal Loans
Our knowledgeable Financial Aid professionals will counsel you throughout the process of financing your graduate education. Many of our graduate applicants gain tuition financing through the Federal Stafford Loan and Graduate PLUS Loan programs.

To begin the federal loan process, just follow these steps:

• Complete the Free Application for Federal Student Aid (FAFSA) online at http://www.fafsa.ed.gov
• The University of Scranton Title IV School Code to be used on the FAFSA is: 003384.
• Students must register for a Personal Identification Number (PIN) with the U.S. Department of Education. Y our PIN number will serve as your electronic signature.

For more information on the FAFSA, please call toll-free 1-800-4-FED-AID.

Federal Stafford Loans
The Federal Stafford Subsidized and Unsubsidized Loan programs are the primary sources of financial aid for many graduate students and require a minimum half-time enrollment. Stafford loans have a fixed interest rate of 6.8 percent. Annual loan limits are tied to the cost of attendance and individual eligibility, with a maximum of $20,500 for most graduate students. The aggregate loan eligibility for graduate students is $138,500 (only $65,500 of this amount may be in subsidized loans). The debt limit includes any Stafford Loans received for undergraduate study. Repayment begins six months after you complete your program of study or leave the program for more than six months.

For students who qualify, some federal student loans are subsidized while you are enrolled in Scranton’s graduate program at least half-time and during grace periods and deferments. When a loan is subsidized, you are not responsible for the interest that accumulates during that period. In the case of unsubsidized loans, interest accumulates and may be paid during these periods or capitalized (added to the principal) at a specified time. Students qualify for subsidized loans based on financial need, which is determined by the information reported on the FAFSA and the cost of attending your academic program.

Federal Graduate PLUS Loans
Graduate PLUS Loans may be available to students enrolled a minimum of half-time in a graduate or professional program. Graduate PLUS borrowers may borrow up to the cost of attendance for the period of enrollment, minus other estimated financial assistance received for that period. Graduate PLUS Loans are subject to credit review; however, a Graduate PLUS applicant who has an unfavorable credit history may be able to obtain the loan with an endorser who has a positive credit history. Graduate PLUS Loans have a fixed interest rate of 8.5 percent. Payments are automatically deferred while a student is in school at least half-time. Interest accumulates and may be paid during these periods or capitalized (added to the principal) at a specified time.

Alternative Loan Programs
In addition to the Stafford and PLUS Loans, there are other, private loan programs available to students in need of additional funding for educational costs. These programs require a favorable credit rating. Students may borrow up to the total cost of attendance for the period of enrollment, minus other estimated financial assistance received for that period. Alternative loans should be considered as a last-option loan. The following is a list of alternative loan programs available: