Online Graduate Student Aid
As an online graduate student there are several types of financial aid that may be available to assist you with funding your graduate/professional education. To be eligible for federal loans and some alternative loans, you must be enrolled at least half-time each term. Below is a summary of the financial aid available to graduate students. To find out more information on each, click on the links provided.
Please note, if courses are dropped after your term begins, or your enrollment status changes, funds may be required to be returned. Visit Return of Title IV to learn more.
Direct Unsubsidized Loans
Your eligibility for a direct unsubsidized loan will be determined from your Free Application for Federal Student Aid (FAFSA). The maximum unsubsidized loan eligibility for an academic year is $20,500. The total amount of the loan awarded and accepted will be divided over the number of terms in the academic year for your program and disbursed at the start of each term. Also, the total amount of aid you receive in any term is capped at the cost of attendance for that specific term.
Students working toward a Master’s in Public Health (MPH) may be eligible to borrow up to a total of $33,000 in Federal Direct Unsubsidized loan, which is $12,500 more than the annual loan limit for other graduate programs. Please be aware this amount is subject to change depending on how close a student is to their aggregate loan limit. To determine eligibility for this loan amount students should complete a FAFSA each academic year.
You'll need to complete a master promissory note and entrance loan counseling before your first amount can be disbursed. Instructions for completing these steps will be provided to you when your FAFSA is received and the loan is offered.
Direct Graduate PLUS Loans
Direct Graduate PLUS Loans can also help pay for education expenses up to the cost of attendance minus all other financial assistance. These loans are unsubsidized and interest begins accruing from the date disbursed. These loans require the FAFSA to be completed, a credit check, and offer the option for a co-signer. There is not an annual loan limit amount, however the total amount of financial aid you receive in any term is capped at the cost of attendance for that specific term.
After completing the Free application for Federal Student Aid (FAFSA) and receiving your direct loan eligibility you may find that you still need some additional assistance. There are a number of alternative loan options you may pursue. We recommend that you review the preferred lender list on our website, as well as information you gather from other lenders to determine the best choice for your needs. These loans are based on credit worthiness and offer the option for a co-signer. The maximum amount you may borrow in an alternative loan is the cost of attendance less any other aid offered to you. While you may apply for alternative loans each term, we recommend that you determine the amount needed for the entire academic year and apply for the total amount. Funds will be disbursed equally at the start of each term.
Some online programs offer a limited amount of scholarships for eligible students. Check with your online program department to determine if there are any scholarship opportunities offered and determine eligibility requirements.
Outside scholarships, also known as private scholarships, are educational awards not provided directly by Baylor. The main sources of these scholarships are churches, organizations, clubs, trusts, and foundations. We encourage you to actively pursue these sources of assistance. You can find information on outside scholarship search engines, tips for winning a scholarship, and instructions on reporting awards to Baylor by visiting our Outside Scholarships webpage.