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Financial Aid Need-based Assistance The aid available from the Office of Student Financial Assistance consists of a variety of loan programs and the Federal Work-Study Program. Federal programs require US citizenship or permanent resident status. Eligibility
In addition, the student cannot be in default on a Federal Student Loan (formerly GSL) of a Federal Perkins Loan (formerly NDSL) or owe a refund or repayment for a Federal Pell Grant or Federal Supplemental Education Opportunity Grant (SEOG) at any institution. For more information about these loans and procedures for application, visit the Department of Education’s web site: http://www.ed.gov/prog_info/SFA
To help with education costs, students can borrow Federal Stafford Loans (subsidized/unsubsidized). These variable interest rate loans, currently capped at 8.25% with a repayment period of up to 10 years. The interest rate is adjusted each year on July 1. Stafford loans amounts cannot exceed the student’s cost of attendance, minus any other resources such as fellowships, assistantships, tuition benefits, etc. In general, full-time graduate students with no other resources can borrow up to $18,500 every 2 terms, beginning with a term actually attended on at least h half-time basis. Students may qualify for a subsidized loan amount, up to $8,500, based on the FAFSA calculations; the remaining amount is available as an unsubsidized loan. Aggregate borrowing is limited to $138,500, including the student’s undergraduate loans. The federal government pays the interest on subsidized loan amounts while the student is in school at least half-time, for six months afterwards, and during approved periods of deferment. With the unsubsidized portion, the student is responsible for all interest from the time the loan is disbursed until it is paid in full, including the in-school period.
In order to be considered for these programs, applicants must first receive a full subsidized Federal Stafford Loan of $8,500. Although graduate students may qualify for these campus-based programs, funding is limited, and students should seek other sources of support.
Answer "yes" to question #18 on the Application for Graduate Admission. A packet containing a loan questionnaire and complete application information will be mailed to you from the Office of Student Financial Assistance. Submit the 2000-01 Free Application for Federal Student Aid (FAFSA) to Federal Student Aid Programs in the envelope provided, designating The George Washington University (code 001444) as a recipient. Do not complete or mail the forms before January 1. Mail them no later than: April 1 for fall 2001 semester Request a Financial Aid Transcript (FAT) from all US postsecondary institutions where the student attend or received credit, whether or not financial aid was received. Submit to GW’s Office of Student Financial Assistance:
These documents will be necessary for fall ’01, spring ’02, and summer ’01 loans. If you will be enrolling in spring or summer ’02, you need to complete the 2000-2001 FAFSA and provide 2000 documents as above. In order to have a loan processed before classes begin, you should file these forms by: April 1 for Fall semester If you have any further questions regarding need-based financial assistance, contact the: Student Financial Assistance
A variety of alternative programs are available to supplement other sources of aid. These are considered consumer loans, and students should compare fees, interest rates, and repayment options before applying. A variety of loan programs are available to supplement other sources of aid. These loans are considered consumer loans and students should compare fees, interest rates, and repayment options before applying for these loans. The most frequently used loans at The George Washington University are the following: Grad Excel Professional Education Plan
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