If you are an independent for graduate or professional school, you may qualify for $20,500 in U.S. government loans:
- Free Application for Federal Student Aid (FAFSA) required.
- You must be a citizen of the United States.
- You must register with Selective Service.
- You must not be in default.
- You must not have been convicted of a federal drug offense.
- Up to $8,500 is a subsidized, need-based loan. (No interest accrues while you are at least a half-time student.)
Your need is determined by the following:
- Cost of Attendance (This is set by each school, and costs can differ greatly between two schools in the same geographic area.)
- Estimated Family Contribution (You are a family of one if you have no dependents.)
- Eligibility to Borrow Up to $8,500 Subsidized.
You will be eligible, if you meet criteria above, to borrow $12,000 unsubsidized. (Interest accrues but may be deferred.) If no need is determined, you may borrow the full $20,500 unsubsidized. Interest is currently at 6.8%.
