FAQs for ASU Graduate Students

General FAQs

What types of federal financial aid are graduate students eligible to receive?

Eligible ASU graduate students can receive the Federal Stafford Loan (subsidized and/or unsubsidized), the Federal Perkins Loan, and Federal Work-Study. Graduate students are not eligible for the Federal Pell Grant.

How do ASU graduate students apply for federal financial aid?

By completing the Free Application for Federal Student Aid (FAFSA) for the appropriate year and listing ASU's school code of 001090. The FAFSA can be filed electronically at www.fafsa.ed.gov.

When is the deadline for applying?

Students are encouraged to apply in January and February prior to the start of the fall semester in which they will be enrolled.

Do I need to include my parent's income on the FAFSA?

No, if you apply as a graduate student, you should only list your income. If you are married, you must also list your spouse's income.

What if I'm going to be married before school starts but after I fill out the FAFSA?

The FAFSA is a snapshot in time. Your marital status at the time you fill out the FAFSA determines whether or not a spouse's income is listed. If you are not married at the time you file the FAFSA, you will only list your income. If you are married at the time you file the FAFSA, you should list you and your spouse's income.

What is considered full-time for a student in the fall and spring semesters? Half-time?

For financial aid purposes, ASU graduate students carrying ten or more hours during the fall and spring semester are considered full-time; graduate students carrying 5 to 9 hours are considered half-time. Graduate students carrying 4 hours or less in the fall or spring semesters are not eligible to receive the Federal Stafford Loan or the Federal Perkins Loan.

What about in the summer semester?

In the summer semester, ASU graduate students carrying three hours in total throughout the different summer sessions are considered half-time. Graduate students only carrying two hours in the summer cannot receive the Federal Stafford Loans. The Federal Perkins Loan is not offered in the summer to any students.

I have not been officially admitted to my graduate program yet. Can I receive federal aid as a "special" or "conditional student?"

No, we are prevented from giving federal aid to students who are not recognized by the university as working within a degree program. Once your special or conditional student status changes and you are officially admitted, we can then determine your eligibility for federal aid.

Are international students eligible for federal financial aid?

If you are in the U.S. on an F1 or F2 student visa, a J1 or J2 exchange visitor visa, or a G series visa (pertaining to international organizations), you are not eligible for federal financial aid. Generally, if you are a U.S. permanent resident with an Alien Registration Receipt Card (I-551) or a conditional permanent resident with an I-551C you are eligible to receive federal aid.

Where can international students apply for non-federal financial aid?

International students should research the Internet to find possible sources, both scholarships and loan. The following website offers a thorough listing of sources of both: http://www.edupass.org/finaid/ Also, see FAQs below regarding non-federal loans and scholarship searches.

Loan FAQs

What is the difference between the Subsidized Federal Stafford Loan and the Unsubsidized Federal Stafford Loan?

Subsidized Federal Stafford Loans are based on financial need and both principal and interest are deferred until the student leaves school or fall below half-time status. Unsubsidized Federal Stafford Loans accrue interest while the student is in school but the principal is deferred. Although the interest is accruing on the Unsubsidized loan, students can defer any interest payments while they are enrolled at least half-time.

What are the loan limits in the Federal Stafford Loan program for graduate students?

Graduate students, if otherwise eligible, may receive up to a maximum of $20,500 annually in the Federal Stafford Loan Program. Only $8,500 of that amount can be in the form of a Subsidized Federal Stafford Loan. No student can receive federal financial beyond their estimated costs of attendance. In other words, if your annual estimated costs (as determined by the Financial Aid Office) are less than $20,500, you would be precluded from receiving the maximum of $20,500.

I reached the maximum total debt as an undergraduate student. Can I borrow more as a graduate student?

The maximum total debt for the Federal Stafford Loan (both subsidized and unsubsidized) is $138,500. Only $65,500 of that amount can be in subsidized loans. This debt limit includes any loan amounts in these programs you received as an undergraduate.

Are there other loan programs in addition to the federal loan programs?

If you are not eligible for federal loans of any kind, or need additional loan funds, you may wish to apply for alternative student loans. There are many lenders who offer alternative loans. The following is just a partial list. This list does not intend to endorse any lender. You, as a consumer, are advised to investigate thoroughly your choices before selecting an alternative loan lender. There may be significant differences in costs, benefits and/or service between various lenders.

Website - Citibank
Website - Regions Bank
Website - Wells Fargo

Should I consolidate my undergraduate loans? My graduate loans? What are the benefits?

Undergraduate and graduate Federal Stafford Loans can be consolidated together. The major benefits of loan consolidation are ease of repayment and a fixed interest rate. If you have two or more lenders, you can consolidate with any lender you wish. As with alternative loans, you are advised to look closely at the benefits and drawbacks of using each lender.

Can I consolidate my Federal Perkins Loans with my Federal Stafford Loans?

Yes, you can. However, you will lose the Perkins Discharge and Cancellation provisions. If you feel you may benefit from any of those provisions, you may not want to include your Federal Perkins Loan obligations when you consolidate your Federal Stafford Loans.

Would it be best for my spouse and me to consolidate our loans together?

Only you and your spouse can make that decision. However, you should understand that if you consolidate your loans together, you both become equally liable for the entire debt. You also may lose out on some of the discharge/cancellation provisions in the Federal Stafford Loan program. For example, if a borrower dies or becomes permanently and totally disabled, the Federal Stafford loan is cancelled. If loans for both spouses have been consolidated together, the surviving spouse would be responsible for the entire debt.