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Graduate Aid
No matter where you are in life, the decision to continue your education is a courageous one. We understand that affordability and value are equally important as you take this next step. We’re here to help you find funding opportunities that will make this decision an easy one.
Graduate students can apply for financial aid as early as October 1 each year and may be eligible for federal financial aid and outside funding. Types of financial aid available to graduate students are listed below.
Have any questions? We’re happy to help.
Office of Financial Aid & Scholarships
316 Boulevard, Anderson, SC 29621
864.231.7555 | Aid@AndersonUniversity.edu
COMPLETE LIST OF FORMS & DOCUMENTS
A low interest loan made by the U.S. Department of Education. Borrowers must be enrolled at least half-time in a degree seeking program and otherwise eligible. This loan does not require a credit check. To apply, students must complete a Free Application for Federal Student Aid (FAFSA), complete an online Entrance Counseling session, and sign a Master Promissory Note (MPN). To decline federal student loans, students can email Aid@AndersonUniversity.edu.
A unsubsidized loan is not awarded on the basis of financial need. The student will be charged interest from the time the loan is disbursed until it is paid in full. If interest is allowed to accumulate, it will be capitalized which means the interest will be added to the principal amount. Then interest will be charged based on this higher amount. Capitalization will increase the amount that must be repaid. If the student chooses to pay the interest as it accumulates, loan payments will cost less.
Repayment begins six months after graduating or dropping below half-time enrollment. This six month period is referred to as a grace period.
The Graduate PLUS Loan is a federal loan available to graduate and professional students. Eligibility is determined by a credit check and if you are enrolled at least half-time 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.
The Graduate PLUS loan can cover the full cost of attendance for your graduate program, with the exceptions of other financial aid received. There is no loan limit, but you would typically seek a Grad PLUS Loan after maxing out a federal Direct Unsubsidized Loan.
Students must complete a Free Application for Federal Student Aid (FAFSA.) Students should consider borrowing the Federal Unsubsidized Loans as available before a you borrow with a PLUS loan. The interest and origination fee are higher for a PLUS loan than for Unsubsidized loans.
OTHER FUNDING OPTIONS
Private Student Loans, also called Alternative Loans, are a last resource for students who are not eligible for other financial aid or who may need additional funds to meet education expenses. Private loans should be considered only when all other options have been exhausted, including federal student loans or other federal financial aid options for which you might qualify.
Private loans typically have higher interest rates than federal students 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 a private loan. To research and apply, students can seek loan options through Banks, Credit Unions, and other various Student Loan Servicer.
Anderson University is proud to partner with the U.S. Department of Veteran Affairs in assisting our military veterans in obtaining their education. Veterans and the children of veterans should consider whether they qualify.
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.