Student financial assistance for graduate and professional students is administered through the Office of Student Financial Assistance. Graduate students who complete a Free Application for Federal Student Aid (FAFSA) and meet all eligibility requirements are usually eligible for Federal Direct Unsubsidized Stafford Loans to assist with financing their education.
Academic Eligibility
Students receiving federal financial aid must be matriculated into a degree-granting program or an eligible certificate program and enrolled in at least 6 credit hours per term. All students receiving financial aid are required to maintain satisfactory academic progress as defined by the school or college in which they are enrolled and in accordance with federal regulations governing the Federal Title IV programs (which includes the Federal Direct Loan programs). Students who do not maintain satisfactory academic progress, who are placed on academic probation, who are notified of removal from degree candidacy, or who are dismissed from the University are ineligible to receive student financial assistance.
Federal Direct Loans
Federal Direct loans allow the student to borrow directly from the federal government. Loan types include the Stafford (Unsubsidized) and PLUS.
Students wishing to receive federal student financial assistance should submit the FAFSA application using the University of Hartford’s federal school code (001422) at www.fafsa.gov. Graduate and professional students are encouraged to apply at least six weeks prior to the term for which they wish to be considered for financial aid.
Federal Stafford Loan
The Federal Direct (Unsubsidized) Stafford Loan is a low-interest educational loan and must be repaid. Graduate and professional students are not eligible for Subsidized Stafford loans.
Graduate and professional students may borrow up to $20,500 per academic year, to an aggregate loan limit of $138,500. Students in the Doctoral Program in Clinical Psychology may borrow up to $37,167 per academic year to an aggregate loan limit of $224,000. Eligibility for annual loan limits is contingent upon students’ cost of attendance and other financial aid, scholarships, or resources awarded.
First-time borrowers at the University must also complete an entrance counseling requirement and Master Promissory Note (MPN); all borrowers must complete an exit counseling requirement upon separation from the University. The MPN and counseling requirements may be completed at www.studentloans.gov.
The interest rate is fixed and set by Congress, annually. For the latest interest rate, please visit www.studentaid.ed.gov. Repayment of principal and interest begins six months after the student separates from the University or falls below a half time credit load in any semester. The loan repayment period is between 10 and 25 years, depending on the amount owed and the type of repayment plan selected.
Federal regulations require a fee to be deducted proportionately from each disbursement of the loan. The net amount of the loan is disbursed (paid) to the student’s account in multiple disbursements (usually half for fall and half for spring).
Students should exhaust their eligibility in the Stafford Loan program before borrowing a PLUS. Stafford Loans have lower interest rates and fees.
Interest is the responsibility of the student from the date of disbursement. The student may opt to begin repayment of principal and interest, make interest payments only, or defer both principal and interest payments while enrolled at least halftime. If the student defers principal and interest payments, the interest will continue to accrue and will be added to the principal (or capitalized).
Graduate PLUS
The Federal Graduate PLUS is meant to provide graduate students with additional funds for educational expenses, once Federal Stafford eligibility has been exhausted. Under the Federal Direct Graduate PLUS program, credit-worthy graduate students may borrow up to the cost of attendance minus any financial aid received from the University or outside sources such as an employer. Interest is the responsibility of the student from the date of disbursement. The student may opt to begin repayment of principal and interest, make interest payments only, or defer both principal and interest payments while enrolled at least half time. If the student defers principal and interest payments, the interest will continue to accrue and will be added to the principal (or capitalized). The loan repayment period is between 10 and 25 years, depending on the amount owed and the type of repayment plan selected.
Alternative (Private) Student Loan Programs
Students are strongly encouraged to exhaust their eligibility in Direct Stafford loans before considering an alternative loan.
Students may apply for an alternative loan directly through the bank, credit union, or private agency of their choice. Though the University offers a Suggested Lender List to assist students with their lender choice, students may borrow through any lender through whom they are qualified.
Assistantships and Fellowships
Students are encouraged to contact the graduate directors of their respective programs at the University of Hartford regarding the availability of assistantships or fellowships in their specific programs of study.
Outside Scholarships, Grants, or Tuition Reimbursement
Outside resources must be reported to the Office of Student Financial Assistance. These additional resources, combined with financial aid, may not exceed the cost of attendance.
Students are encouraged to explore all outside opportunities to assist with their educational expenses. The University maintains a list of some of these resources on the Student Financial Assistance website.
Student Consumer Information
The University of Hartford conforms to the Student Consumer Information requirements established by the U.S. Department of Education. The Director of Student Financial Assistance and other Financial Assistance staff members are the individuals designated under those requirements to assist students in obtaining information regarding financial assistance.
Under certain circumstances, the Internal Revenue Service may consider a portion of grants, scholarships, fellowships and assistantships to be taxable income. A tax professional should be consulted for guidance on this matter.
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