Financial Aid Information for Graduate Students

There are several factors to consider when attending graduate school. Below we have outlined important information for graduate students and their advisors.

Loans: Direct Loans
Beginning with the 2007-2008 academic year graduate students are eligible for the following amounts of Direct Loans* per year: Subsidized-$8,500, Unsubsidized-$12,000. The Unsubsidized loan currently has a fixed interest rate of 6.8%. These amounts cannot exceed the cost of attendance minus other financial aid received.

*The type of loan awarded is based on the results of their FAFSA.

If a student has never borrowed loans at UNI before, they will need to complete Direct Loan promissory notes and entrance counseling.
Promissory Notes: A new student to UNI will find promissory notes within the award package. Students may also visit www.dlenote.ed.gov to complete a promissory note online (using their FAFSA PIN).

New students to UNI would have to complete entrance counseling. This can be completed online at http://www.dlservicer.ed.gov.

A Direct Graduate PLUS Loan is available to graduate students in addition to their Direct Subsidized and Unsubsidized loans if their cost of attendance is not met by the Subsidized and Unsubsidized Loans. The interest rate is fixed at 7.9%, and an origination fee is withheld from the amount borrowed. Graduate PLUS Loans require a credit check. This would require a separate promissory note and a disbursement agreement. Please have the student contact our office if they are interested in the Graduate PLUS Loan.

Grants
There are limited amounts of grants available to graduate students. This emphasizes the importance of completing the FAFSA as soon as possible after January 1.

On-Campus Scholarships
Graduate students generally apply for scholarships through their department. The Financial Aid Office receives graduate scholarship information from the Graduate College and the scholarship is added to their financial aid award.

If a student has questions regarding why their scholarship hasn’t been credited to their university bill they should begin by checking with the Graduate College to see if rosters have been sent. If they have been sent, billing updates occur on Tuesday evenings.

Graduate Assistantships
Graduate assistants work 15-20 hours per week and are paid monthly. Assistantships are employment experiences and are not included on a financial aid award. Students should check with their department to learn more about assistantship opportunities.

Employment: Work Study and Non Work-Study
Graduate students seeking on-campus employment opportunities should begin by searching the UNI Online Job Board. Work-study can be awarded to graduate students; however a graduate student can not possess both work study and a graduate assistantship. In addition, departmental employment is available to all graduate students. Students may not work as a departmental student employee in the same department that they have their assistantship.

Items to Note
1. In order to receive financial aid graduate students must be a degree seeking student (accepted into the graduate program) and enrolled at least half-time (5 semester hours in the fall or spring or 4 hours in the summer). Students questioning whether or not they are degree-seeking should first check with their department.

-Issue: Occasionally graduate students attend classes on provisional basis
prior to being accepted into the degree program. These students are not
considered degree seeking for financial aid purposes.
-Solution: Students can be granted a “non-degree override” by the UNI
Financial Aid Office. To receive the override the student would need to
the department head or advisor write or email Del Jaramillo (del.jaramillo@uni.edu) explaining that the courses being taken will lead to acceptance in the degree program. Students can only receive a “non-degree override” for one semester.

2. When working with a student who will be moving from undergraduate to graduate status mid-year (or spring to summer) please have that student contact the financial aid office so they may be awarded correctly for the upcoming semester.

3. Graduate students will need to complete a Free Application for Federal Student Aid (FAFSA) form every year, as soon as possible after January 1. This application covers the fall, spring, and summer semesters (in that order) at UNI.

Note: We encourage all students to complete FAFSA on the Web at www.fafsa.ed.gov. Students will need a PIN to electronically submit the FAFSA. They can receive a duplicate PIN or apply for one for the first time by visiting www.pin.ed.gov.

4. MyUNIverse contains valuable information that they may not be able to receive elsewhere.

Note: Only new graduate students will receive a paper award letter, in addition to it being available on MyUNIverse. From the moment a student begins classes, paper mailings cease. A student’s award, information needed by financial aid, the UNI job board, etc. is available on MyUNIverse.
Note: A student will only be able to access their E-bill on MyUNIverse.