Graduate Aid

Unsubsidized Loans are low interest loans made by the U.S. Department of Education (ED). To determine eligibility, a student must complete a FAFSA and the AU financial aid process. Students must also complete an online Entrance Counseling session and sign a Master Promissory Note (MPN). Loan limits are determined by grade level. For more information, please visit the Federal Student Aid website.

Students are charged interest from the time the loan is disbursed until it is paid in full. If the student chooses to have interest accumulate, the interest will be added to the added to the principal amount (i.e., capitalization) and interest will then be charged based on the accumulated amount. Capitalization increases the amount that must ultimately be repaid. Students who choose to pay the interest while it accumulates will avoid capitalization and lower their loan payments. This loan does not require a credit check, nor is it awarded on the basis of financial need.

The student must be enrolled at least half-time. Repayment begins 6 months after graduating or dropping below half-time. This 6-month period is referred to as the “grace period.”

Grad PLUS Loans are federal loans that are available to graduate and professional students. Grad PLUS Loans carry higher interest rates and origination fees than Federal Direct Unsubsidized Loans.

Interest is charged from the time the Grad PLUS Loan is disbursed until it is paid in full. If the student chooses to have interest accumulate, the interest will be added to the added to principal amount (i.e., capitalization), and interest will then be charged based on the accumulated amount. Capitalization increases the amount that must ultimately be repaid. Students who choose to pay the interest as it accumulates will avoid capitalization and lower their loan payments.

Eligibility is determined by a credit check and if the student is enrolled at least half-time (i.e., at least 3 credit hours each semester/term) at an eligible school. Monthly repayment begins when the loan has fully disbursed and can vary based upon the interest rate and loan amount borrowed. To apply, students must complete FAFSA with their FSA ID and password. The loan application may be found at the Federal Student Aid website. If the loan is approved, the student must complete an MPN. The loan amount cannot exceed the cost of attendance, less other aid awarded. For more information, please visit the Federal Student Aid website.

The TEACH Grant is a program that provides grants to students who agree to teach full-time in high-need subject areas at a public elementary or secondary school that serves students from low-income families. If the student fails to fulfill these obligations, all amounts of the TEACH Grant received will be converted to a Federal Direct Unsubsidized Loan. Interest will be charged from the disbursement date of the original TEACH Grant. Application requirements include TEACH Grant counseling and an Agreement to Serve. For more information, please visit the Federal Student Aid website.

Low-interest loans are available to South Carolina residents who plan to teach in the public sector in South Carolina upon graduation from a college or university. Students must meet the academic criteria of the program, and financial need is not a factor. For additional information, visit www.scstudentloan.org.

Low-interest loans are available to SC residents who earned a baccalaureate degree at least three years ago or have worked as an instructional assistant in the SC public school system. For additional information, visit www.scstudentloan.org.

Private student loans are the last resource for students who are not eligible for other financial aid or who may need additional funds to meet education expenses. Private student loans should be considered only when all other options have been exhausted, as they typically have higher interest rates than federal student loans, are credit-based, and do not always offer the same benefits as federal student loans. Students are responsible for finding the company through which they want to obtain the loan. Students can seek loan options through banks, credit unions, and other student loan services. Click here to access a tool that helps student research and apply for private student loans.

Eligible veterans can apply for their educational benefits through the US Department of Veteran Affairs (VA) website at https://www.va.gov/. The VA is the only agency that can determine eligibility for and award this benefit. For questions about eligibility, please contact your VA Regional Office.

After an application has been approved, the VA will send a Certificate of Eligibility to the applicant (i.e., the veteran). Applicants are then required to submit a copy of the Certificate of Eligibility and additional documents to the AU Certifying Official. Please email or call (864-231-2120) the Certifying Official to obtain all necessary forms and get answers to your questions.

Many organizations offer their employees full or partial tuition reimbursement for furthering their education. Talk to your employer’s Human Resources Department to see if your organization offers tuition reimbursement benefits.

Persons with physical disabilities which are vocational handicaps are eligible for financial aid from a State Department of Vocational Rehabilitation. Information may be obtained from the Vocational Rehabilitation Department in the student’s home state.