1. Home
  2. Students
  3. Policies
  4. Financial Aid

Financial Aid

Financial Aid

Financial Aid

Paying for your education is one of the most important things you and your family will have to manage when attending college. The Financial Aid Office at Graduate School USA is committed to providing you with guidance during the financial aid process and with access to additional resources to help defray the cost of a college education. We look forward to helping you achieve your educational goals.

Phone: (202) 314-3648
Fax: (202) 479-2501

Note: When faxing any documents to the Financial Aid Office, always include your name and Graduate School USA ID number on each page.

Email: finaid@graduateschool.edu

Mailing Address:
600 Maryland Ave SW, Suite 180
Washington, DC 20024

Office Hours:Monday – Friday, 9:00 a.m. – 5:00 p.m.

  • Read all correspondence that the Financial Aid Office sends to you and respond immediately to any request.
  • Apply early. For priority consideration of limited need-based federal or state funding, please complete the FAFSA by March 1, 2015.
  • Maintain a file for all documents submitted to the Financial Aid Office

To be eligible to participate in federal student aid, you must:

  • Be a U.S. citizen or eligible non-citizen
  • Have a valid Social Security number
  • Register with the Selective Service (males between the age of 18 and 25) (https://www.sss.gov/RegVer/wfRegistration.aspx)
  • Not have been convicted under federal or state law of the sale or possession of drugs while receiving federal financial aid
  • Be enrolled and working toward a degree or eligible certificate
  • Possess a high school diploma or a General Education Development (GED) certificate
  • Maintain satisfactory academic progress (SAP) while in school (read the SAP Policy for Academic Programs)

Complete a Free Application for Federal Student Aid (FAFSA) (www.fafsa.ed.gov).

For priority consideration, your FAFSA must be received by April 1, 2015. Although no financial aid award can be given until you have been admitted to Graduate School USA, please do not wait until you have been admitted to submit the FAFSA. Graduate School USA’s OPE ID school code is 042025.

Accept Your Financial Aid Package

Your financial aid award letter will list the amount of aid you are eligible to receive to attend Graduate School USA. Your award may consist of scholarships, grants, student loans, or student employment. Your award is based on the FAFSA results and the assumption that you will enroll at least half-time (minimum 6 credits). If you decide not to attend classes for any given term, please contact the Financial Aid Office immediately.

Grants are need-based financial aid awards that do not have to be repaid. The award amounts will vary and will be calculated by taking into account the student’s enrollment status and need level. Grants are awarded by federal and state governments.

Federal Pell Grant

  • The Federal Pell Grant is an entitlement program. Students must demonstrate financial need to qualify.
  • Recipients must be enrolled in an undergraduate degree-seeking program leading to a first bachelor’s degree and must meet all other eligibility criteria required for receipt of federal assistance, including Satisfactory Academic Progress.
  • The maximum Federal Pell Grant award for full-time students (12 credits or more) for 2014–2015 is $5,730. For students enrolled less than full time, the amount will be prorated.
  • Effective July 2012, students are able to receive a Federal Pell Grant for a maximum of 12 full-time semesters.

The National Student Loan Data System has information about your federal student loans and Pell Grant awards. You may view you Pell Grant balance for all institutions attended by logging in at www.NSLDS.ed.gov. You will need your federal PIN to access this information.

Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for the undergraduate students who are working toward their first degree and have exceptional financial need. FSEOG awards are not guaranteed from one year to the next. Pell Grant recipients with the lowest expected family contributions (EFCs) are considered first for a FSEOG. FSEOG funding is limited; therefore all eligible students may not receive this type of an award. This grant is typically awarded on a first-come-first- serve basis.
To be considered for any type of financial aid, including FSEOG, you must complete a new FAFSA each year. The FSEOG is a grant and it does not have to be repaid.

Federal student loans are government-backed, or guaranteed. They are low-cost, fixed-rate loans that may be subsidized (based on need) or unsubsidized (not based on need). Subsidized loans begin to accrue (accumulate) interest when repayment begins (six months after you leave school or when your attendance drops below half-time), while unsubsidized loans begin to accrue interest as soon as the loan is fully disbursed. Award amounts are based on grade year classification and vary each year.

William D. Ford Federal Direct Subsidized Loan Program The Department of Education makes Federal Direct Subsidized Loans to students enrolled at least half-time (a minimum of 6 credit hours) and who demonstrate financial need. Students may borrow up to $3,500 per academic year as a first-year student (29 or less credit hours completed) and $4,500 per academic year as a second-year student (at least 30 credit hours completed). The federal government pays the interest while the student is in school at least half-time, during the six-month grace period, and during all deferment periods for the Federal Direct Subsidized Loan.

William D. Ford Federal Direct Unsubsidized Loan Program Federal Direct Unsubsidized Loans are low-interest loans made by the Department of Education to allow students to borrow who are not eligible or who have reduced eligibility for a Federal Direct Subsidized Loan. The maximum amount a student can borrow is the same as for the Federal Direct Subsidized Loan. Independent students may borrow up to an additional $6,000, depending on eligibility. Dependent students can borrow up to an additional $2,000, depending on eligibility. The interest rate for the Federal Direct Subsidized and Unsubsidized Loans is the same. The federal government does notpay the interest for the student receiving a Federal Direct Unsubsidized Loan. Students are responsible for paying the interest on the Federal Direct Unsubsidized Loan while they are in school, during the six-month grace period, and during all periods of enrollment.

Federal Parent (PLUS) Loans for Undergraduate Students The PLUS loan provides non-subsidized low or capped interest rate loans to parents of undergraduate students regardless of financial need. These funds assist students with educational expenses.
The PLUS Loan may be used to replace family contribution to the extent that it does not exceed the difference between the student’s cost of attendance and other financial aid. PLUS Loans are processed for parents or guardians of dependent undergraduate students. The student for whom the parent is borrowing must meet all of the eligibility criteria for financial aid, except need analysis, Pell Grant eligibility, Stafford Loan eligibility, and Statement of Educational Purpose. The parent borrower must meet the citizenship criteria and not be in default or owe a repayment on a Title IV loan or grant.

Note: If you are a new borrower to Graduate School USA, visit www.studentloans.gov to complete your Direct Loan Entrance Counseling and Master Promissory Note. Both of these documents must be completed before your loan funds will be disbursed by the financial aid office.

Financial aid awards are subject to the following stipulations:

  1. The student is a citizen or permanent resident of the United States.
  2. To be eligible for most types of financial aid, a minimum of 6 credit hours per semester is required.
  3. If dropped or cancelled classes decreases or cancels eligibility for financial aid, any balance owed to the institution is the student’s responsibility.
  4. The student must inform the Financial Aid Office of aid received from sources outside of Graduate School USA.
  5. If additional financial aid is received after an award letter is issued, the award package may be adjusted or cancelled.
  6. Financial aid is contingent on the continuation of the current aid programs, sufficient appropriations, and the student’s meeting Graduate School USA’s Financial Aid Office Satisfactory Academic Progress policy.
  7. Financial aid is contingent on the student’s attending all courses for which he or she is registered.
  8. Adjustments to the award package may be required when there are changes in the family’s situation, additional available funds, errors in calculation, or clerical errors.
  9. The student will be notified of all adjustments to the financial aid award package.
  10. Financial aid received for the current award year cannot be used to pay indebtedness from a previous award year.
  11. All funds received are to be used for education-related expenses while attending Graduate School USA.
  12. In case of enrollment at more than one institution for the same period of time, federal and state funding may be received at only one institution.
  13. By signing the Title IV statement on the Financial Aid Certification Form, the student is authorizing/not authorizing federal funds to apply to all charges on the student’s account.