Video Transcript – What Comprises Graduate Student Aid
Learn about the different financial aid options available to graduate students with Natalie Newell, Financial Aid Counselor and Ally Daniels, Director and Advisor, Online MBA.
What types of graduate financial aid are available?
[Natalie Newell, Financial Aid Counselor] Graduate students are eligible for not need-based aid so what that means is they are eligible for unsubsidized loans or Graduate Plus loans.
Unsubsidized loans means that your interest accrues while you’re in school. That doesn’t mean that you need to pay for it while you’re in school, but once you graduate or take a leave, then you need to go ahead and pay those loans and just note that your interest will be accruing the entire time.
A Graduate Plus loan is help for supplemental need. So if it’s above and beyond what you are allotted for the year for your cost of attendance, you can go ahead and apply for a Graduate Plus loan and that helps fill that gap of need.
How do I apply for federal graduate loans?
[Natalie] Pretty simple process, so you just need to file your FAFSA like you did as an undergraduate. If you’ve never done that before, it’s just a free online application for student federal aid. Once you complete that, just note that information is sent over to Boise State and we process that and then look at packaging your aid. Once that’s complete, then Boise State gets in contact with you for any aid that’s been awarded.
Are there limits on financial aid?
The maximum a graduate student can receive in federal loans is 20,500 per year.
How do scholarships work?
[Ally Daniels, Director and Advisor, Online MBA] You are awarded a scholarship based on eligibility criteria. If you fit the criteria for one of our scholarships [Affiliate Partner Discount, Experience Scholarship, Alumni Scholarship, Military Scholarship, Community Leaders Scholarship], you will be notified automatically when you are admitted to the program. There’s no additional application necessary. If you only want scholarships, there’s no need to submit the FAFSA.