Financial Aid Information for Graduate Students

Graduate students at Stevenson University are eligible for the Federal Direct Stafford Student Loan Program and for some State of Maryland grant and scholarship programs.

Federal Direct Student Loans for Graduate Students

Stevenson University participates in the Federal Direct Student Loan Program. These unsubsidized low-interest student loans are available as long as you enroll at least half-time. Graduate students need at least 3 credits or more per semester. Effective for loans made for periods of enrollment beginning on or after July 1, 2012, Graduate students are only eligible for Unsubsidized Direct Student Loans at a fixed interest rate of 6.8%. The terms and conditions of all loans are explained in the Master Promissory Note that all borrowers must complete and sign. Instructions for completing the Master Promissory Note are included in the Financial Aid Award Guide 2013-2014.

Graduate Student Loan Limits
Annual limit $20,500 in Unsubsidized
Maximum Total Debt from Subsidized and Unsubsidized Loans When You Graduate $138,500 (maximum $65,000 subsidized)

First‐time borrowers at Stevenson University of Federal Direct Loans are required to complete entrance counseling and Master promissory Note (MPN) before the Financial Aid Office can process their loan. The purpose of the entrance counseling is to ensure that you understand your rights and responsibilities as a new loan borrower and that you understand the regulations governing each loan program, such as interest rates, grace, deferment/forbearance options, prepayment, consolidation, and other general repayment obligations. You are also informed of the consequences of not repaying your student loans (default) and of various repayment strategies.

Funds will post to your student account after the financial aid census date. The census date typically marks the end of the add/drop period for the semester. This is the date we take a “snapshot” of all students’ enrollment to establish the “official enrollment” for reporting purposes and financial aid eligibility. The classes for which you are registered as of the census date determine the amount of financial aid you will receive.

Because all of Stevenson’s graduate programs operate on the accelerated 8 week module schedule, the disbursement of your funds may not occur at the same time as other students on the traditional 15 schedule. Learn more.

Satisfactory Academic Progress
Graduate Degree Students
To be eligible for receiving or continuing to receive financial aid, you must enroll in a graduate degree program and:

  • Maintain a 3.0 minimum cumulative GPA, and
  • Earn your degree within the first 54 attempted credits based on a maximum time frame of 150%. All semesters and credit hours attempted including all repeated courses, failed courses, withdrawals, courses taken from a change in major, and transfer credits will count as credit hours attempted toward the maximum time frame. View the complete Satisfactory Academic Progress policy.

State of Maryland Grants and Scholarships

Graduate students may be eligible for some State of Maryland grant and scholarship programs such as: Delegate Scholarship Program, Senatorial Scholarship Program, Workforce Shortage Student Assistance Grant Program, Graduate Nursing Faculty Scholarship and Living Expenses Grant.

For more detailed information see www.mhec.state.md.us

You should also review the information at the following links:

• Apply for Aid
• Policies and Information
• FAQ
• Forms
• Cost
• Money Management and Financial Literacy