Graduate Student Information
As a grad student seeking financial aid, you may face situations unique from those that undergraduate and applied technology students encounter. Examples of those unique situations include:
- Different credit requirements for student loan eligibility
- Programs eligible for federal financial aid
- An enrollment status of "Pending Department Review"
- A student fee waiver offered with a graduate assistantship
- Different student loan limits
- Complete correct loan MPN (Master Promissory Note)
- Federal PLUS loans available for grad students
- "In Progress" grades for thesis credits impact Satisfactory Academic Progress eligibility
- Maximum credit standards for Satisfactory Academic Progress eligibility
Another resource to review is the Boise State Financial Aid Handbook
Different credit requirements for student loan eligibility
To receive graduate level loans, a graduate student must be...
- enrolled in at least five (5) graduate level credits or have a combination of at least 5 graduate and/or undergraduate credits that count towards the master's degree (Undergraduate courses with a "G" designation)
- accepted into a specific graduate program
- meet all other eligibility requirements
Graduate students will initially be awarded graduate level loans with the assumption that the above enrollment requirements will be met. About a month before aid disbursement for the upcoming term, you will see a HOLD on BroncoWeb if you do not meet the qualifications outlined above.
To defer existing student loans, graduate students must enroll in 5 or more credits for any combination of graduate and undergraduate courses.
Programs eligible for federal financial aid
The U.S. Department of Education determines which academic programs are eligible for federal financial aid. As new programs are added to the curriculum, especially graduate certificate programs, there may be a period of time when a new program is ineligible for federal aid while approval is being sought.
Graduate Programs ineligible for federal financial aid as of 9.23.2008:
Certificate: Workplace e-Learning and Performance Support (WELPS) offered by the Instuctional and Performance Technology Department, College of Engineering.
An enrollment status of "Pending Department Review"
Pending Department Review (PDR) is a non-eligible status for federal financial aid status
When your records show that you are "Pending Department Review" you will have one or more Financial Aid To Do items visible on BroncoWeb.
Pending Department Review may mean one of several possibilities including:
- You have not yet been admitted into a specific master's program
- You may have further documents to be submitted to complete your application to a specific program
- The academic department is in the process of reviewing your application
- Your academic department has not forwarded the necessary notifications to the Graduate Admissions Office
Follow up with the academic program you are pursuing and with the Graduate Admissions Office. Once your status on the Boise State database (PeopleSoft) shows you are admitted into a specific program, you should see the related Financial Aid To Do items disappear within one week. Awarding of your aid will follow as long as all other To Do items are completed and you meet all other aid eligibility requirements.
A student fee waiver offered with a graduate assistantship
The terms of your financial aid require you to report any education benefits you receive that are not visible on your BroncoWeb financial aid award. This includes tuition waivers for graduate assistantships. It is in your best interest to report it as soon as you know you are receiving it. If you forget to report the waiver, it will still be reported to the Financial Aid Office when the waiver appears on your student account. A recalculation of your aid is required by federal regulations and could cause you to...
- repay large amounts of federal aid
- receive much more aid fall semester thus leaving you little or no spring semester aid
Financial aid staff will work with you to identify any special circumstances you may have and to reduce or eliminate any unexpected aid adjustments that result from your educational assistance.
Different student loan limits
Graduate students may be awarded up to $20,500 an academic year (fall, spring & summer) in federal Direct Student Loans. Of the $20,500, no more than $8,500 may be subsidized loans.
The combined undergraduate and graduate total debt you can have in outstanding federal subsidized & unsubsidized loans is $138,500 of which no more than $65,500 may be subsidized loans.
Complete correct loan MPN (Master Promissory Note)
Graduate students have frequently completed the incorrect MPN because the federal web site offers two options that are separate and distinct MPNs based on the type of loan you have been awarded. Grad students are first awarded Subsidized and Unsubsidized Federal Direct Loans and usually need to complete this MPN (see #2 below). Very few students will have Graduate PLUS loans.
Federal PLUS loans available for graduate students
PLUS loans are available to graduate students who still have an unmet Cost of Attendance after borrowing $20,500 through the Federal Direct Loan program and other sources of aid. The PLUS loans are a better financial option than an alternative student loan from a private lender.
The differences between the Federal PLUS loan for graduate students and other federal loan programs include:
- A credit check is required to be approved for a PLUS loan. Applicants with an adverse credit history may still qualify with an eligible co-signer.
- Borrowers must request an in school deferrment if enrolled at least half-time. If granted, payments on the principle will be deferred, but student should be paying the interest while enrolled.
- The interest rate is fixed at 7.9 percent
- A separate PLUS Master Promissory Note must be completed and signed
- A loan counseling session is required for each PLUS loan requested
- The Graduate PLUS Loan application can be found online at: http://financialaid.boisestate.edu/forms
"In Progress" grades for thesis credits impact Satisfactory Academic Progress Eligibility
"In Progress" (IP) thesis credits negatively impact your Satisfactory Academic Progress status, since they represent credits you have not yet completed. When calculating your credit completion rate, you may fall below the minimum 75% completion rate standard. A Financial Aid Hold will appear on your BroncoWeb records in these situations.
To resolve the Hold
- your academic advisor needs to write an email message indicating whether or not you are making satisfactory progress on your thesis
- the email message should be sent to Kelcey Stewart or Maureen Sigler in the Financial Aid Office
- if the thesis credits are the primary reason for the HOLD, it can be removed
- after each spring semester, the HOLD will reappear and your academic advisor will need to send an update on your status
Maximum credit standards for Satisfactory Academic Progress eligibility
There is another Satisfactory Academic Progress standard than indicates that a student may receive financial aid for 150% of the minimum number of credits required for his or her degree program. At the graduate student level, these maximums are program specific.