Graduate Student Financial Aid
Contents
- Available Financial Aid Programs
- Maintaining Financial Aid Eligibility
- Tuition Cost
- Dropping or Withdrawal
- MBA Education Leadership
- Civil and Architectural Engineering Early Entry Master's Degree Programs (Semester Only)
- Frequently Asked Questions
Available Financial Aid Programs
Federal Direct Loans for Graduate Students:
To apply, you must fill out a FAFSA at fafsa.gov using your FSA ID. Borrowers must also complete Entrance Counseling and a Master Promissory note (MPN), available at studentaid.gov under the heading “Complete Aid Process”.
- Annual Limit: $20,500 divided evenly between terms
- Aggregate limit: $138,500, including prior loans borrowed during undergraduate or other graduate programs
- Fixed Interest Rate: Visit MSOE Financial Aid webpage and visit the loans sections for up to date information on interest rates.
- Origination Fees: A small administrative fee is taken off the top of the loan, so the amount on your preliminary billing statement may be different than your Financial Aid Offer. Please visit MSOE Financial Aid webpage and visit the loans sections for up to date information on origination fees.
Graduate PLUS Loans:
These are additional loans that may allow students to cover the difference between their Financial Aid and Cost of Attendance. To apply, visit studentaid.gov. Students must have a valid FAFSA, and otherwise be eligible for federal financial aid. If approved, students must fill out a Master Promissory Note (MPN). More information is available at MSOE Financial Aid webpage under the Loans section.
- Annual Limit: students may borrow up to the difference between their current estimated financial assistance and Cost of Attendance.
- Fixed Interest Rate: Visit MSOE Financial Aid webpage and visit the loans sections for up to date information on interest rates.
- Origination Fees: A small administrative fee is taken off the top of the loan, so the amount on your preliminary billing statement may be different than your Financial Aid Offer. Please visit MSOE Financial Aid webpage and visit the loans sections for up to date information on origination fees.
Alternative Loans:
Alternative loans may be available for students who are interested. We do recommend that students maximize and explore their federal options and eligibility first. Students may view our historical lender list and Fast Choice tool at our Private Higher Education Loan web page.
Maintaining Financial Aid Eligibility
Please visit the MSOE SAP Policy webpage for our full satisfactory academic progress policy.
Tuition Costs
Tuition rates are updated annually on the Student Accounts website. For a complete listing of estimated tuition and fees associated with your program, please visit the MSOE Tuition webpage. Tuition is billed each term at a per credit rate for graduate students, based on the courses registered for the term. Additional charges may include a per credit hour technology fee and any charges related to the particular course.
Please note that your bill is not final until you are registered for the final number of credits in the term. You may access your bill by visiting your myMSOE account, navigating to the Student Tab, and visiting “Transact”
Dropping or Withdrawal
Tuition and Fees Refunds: Students who drop or withdraw from courses after they begin classes are subject to a tuition refund policy. The full policy, including Meal Plan and Residence Hall Refunds may be found at the MSOE Tuition & Fee Refund webpage.
Return of Title IV Financial Aid: Federal Regulation 34 CFR 668.22 specifies how a school must determine the amount of title IV program assistance you earn if you withdraw from school. For students who withdraw prior to completing more than 60% of their period of enrollment, federal financial aid regulations require you to repay some or all of your financial aid. This may leave you with a significant balance owed to the school. The full policy is available at the MSOE Return of Financial Aid webpage. Students considering dropping or withdrawing from courses should reach out to the Financial Aid Office.
MBA Education Leadership
Students with more questions or needing more information about their program itself should visit the MSOE MBA Education Leadership webpage.
Is there financial aid available for the MBS Education Leadership degree program?
Students may be eligible for federal or private student loans if they are enrolled in a degree-seeking program. Students will be charged tuition and fees on a per-credit basis. See the Tuition at MSOE webpage for details. Because MBA-EL students are charged a discounted tuition rate, there are no scholarships or grants available for this program.
How do the summer licensure programs for the MBAEL program work?
Students enrolling in either of the additional licensure track programs over the summer do not qualify for financial aid for those programs. Students are billed block credit pricing. Please contact the Student Accounts Office or the MBAEL Program for additional information.
Early Entry Master's Degree Programs (Semester Only)
Students who will be part of the early entry Master’s Degree Program may be eligible for a discounted tuition rate when they enter into their graduate program of study (after their undergraduate degree is conferred). Students in the graduate phase of their program will be identified by the Program Director and students must be enrolled in at least 6 graduate credits per semester and meeting Satisfactory Academic Progress.
FAQs
I already took out loans for another program, will I need to make payments on those while I am in school?
Once you begin courses, we will report your enrollment to the National Clearinghouse, which should any federally held loans into a deferment status, if you are enrolled at least half time. At this point, any subsidized loans will cease accruing interest. For loans that are not federally held, you should reach out to your loan servicer.
I need to add or drop a class, but the term has started. How will that affect my tuition and financial aid?
Please review the tuition and fees refund section previously referenced on this page, or visit the MSOE Tuition webpage . Additionally, we recommend that any student looking to drop classes call the Financial Aid Office before doing so.
How can I tell what the total cost of my program will be?
MSOE’s Financial Aid Office can only publish and send financial aid offers for the active academic and aid years available. In most cases, the financial aid offer a student receives will only be for one academic year, or one portion of their program. Students may utilize this and other publicly available information on cost per credit at the MSOE Tuition webpage to get a sense of what future years may entail. Please note that financial aid is evaluated yearly based on that year’s FAFSA, and aid may be subject to change year to year. Students wishing for more information should reach out to the Student Accounts Office.
I’m enrolled in a Master’s Certificate Program, or a summer licensure course. Do I qualify for financial aid?
Students who are enrolled only in Master’s Certificate programs may not qualify for financial aid. Please contact the Financial Aid Office for more information.