Loans & Assistance
If a student experiences financial difficulty, he or she may apply for a loan. The Graduate School can grant loans only to cover the cost of attendance (pdf) and for essential purposes. Expenses such as car payments or vacation travel are not usually considered essential.
Short term contingency loans are designed to assist students in coping with unexpected financial emergencies. They are short-term loans ($500 limit) that are repayable by the end of the spring term in any given academic year, usually by deduction from stipend checks.
Long term education loans, payable after departure from the Graduate School, are intended to help students cover their cost of education during the academic year if resources prove inadequate. Long term loans under the Federal Stafford Loan Program for up to $20,500 unsubsidized and the Perkins Loan Program for up to $8,000, are available only to eligible U.S. citizens and permanent residents.
Graduate students may also borrow up to the cost of attendance less student financial aid under the Grad PLUS loan program. Alternative Student Loans are available as a last resort after all borrowing options have been considered.
Students in science and engineering who intend to pursue teaching careers may also be eligible for up to $3,000 under the Ford Foundation Engineering Loan Program.