New Graduate Students
Financial Aid Information for Graduate Students
Financing Your Graduate Education
Funding your education as a Graduate student is a little different than as an Undergraduate. To qualify for federal student aid, you are still required to complete the FAFSA. You can view the Graduate Financial Aid Guide for more information. Every student has dedicated counselors in both the Office of Financial Aid and Student Financial Services (Billing). If you have questions or concerns about any aspect of paying for your Wentworth education, you can contact your counselors.
What is the FAFSA?
The FAFSA is a form that can be prepared annually by current and prospective college Graduate students in the United States to determine their eligibility for student financial aid.
Am I Eligible for Federal Aid?
In order to be eligible for any of the Federal Aid programs a student must:
- be admitted to an eligible program
- be a US citizen or Eligible Non-Citizen
- be registered with Selective Service if you are a male between the ages of 18 and 25
- not owe a refund on a grant or be in default status on any federal student loan
- not have borrowed in excess of the annual aggregate loan limits
- be enrolled at least half time (6 credits) for Federal Direct loans per semester
- maintain Satisfactory Academic Progress (SAP)
How is filling out the FAFSA different for Graduate students vs. Undergraduates?
Graduate students at Wentworth are considered Independent students thus they do not need to provide parental data on the FAFSA.
Also, they will need to check the box 6 for Question 29: 1st year college graduate/professional and box 8 for Question 30: College graduate or professional degree
How is Financial Aid different for Graduate students vs. Undergraduates?
By having completed their bachelor’s degrees, Graduate students are no longer eligible for any federal grant funds including the Federal Pell and SEOG grants nor are they eligible for the Federal Subsidized Stafford loans.
Graduate students are eligible for Federal Unsubsidized Stafford loans up to $20,500 per academic year. They may also apply for a Federal Graduate PLUS loan.
Graduate students must be enrolled at least half-time (6 or more credits) per semester to be eligible for the loans.
Is there any additional Wentworth funding as a Graduate student?
If you are graduating from Wentworth from an Undergraduate day program directly preceding your attendance as a full-time Graduate student, under most circumstances, the Merit Scholarship received as an Undergraduate will remain during your Graduate program.
For example, as an Undergraduate in Construction Management a student received a $10,000 Merit Scholarship. If that student is graduating with a BS in Construction Management in August 2020 and begins as a MS in Project Management in September 2020, providing they attend full-time and maintain a 3.0 cumulative GPA, they will continue to receive that $10,000 Merit Scholarship.
If you are a Graduate student accepted into the 2-year or 3-year MARCH program, you may be eligible for Merit up to $12,200. Merit is awarded at the time of Admission.
M'Arch: Full-time $38,600
MSPM: Full-time $34,050
MECE: Full-time $34,050
All other MS programs: $1,135/credit
Graduate Federal Student Aid Types
Direct Unsubsidized Stafford Loan
Unsubsidized (the student pays all the interest, although the payments can be deferred until after graduation) Direct Stafford loans have annual and aggregate loan limits. The annual loan limit is $20,500. The aggregate loan limit (including Stafford loans borrowed as an Undergraduate) is $138,500.
Interest Rate* ……4.30%
Direct PLUS Loans
Graduate Direct PLUS loans are federal loans available to help fill the gap between your expenses.
(Cost of Attendance) and your financial aid package. These are available to students pursuing a Graduate degree. They are credit-based and an application is required. (Don't confuse this with a Parent Plus Loan. As a Graduate student, your parent is no longer eligible to apply for this loan.)
Interest Rate* ……5.30%
*Rates and fees as of October 1, 2019. Subject to change for the 2020-20201 aid year.