St. Bonaventure University

Graduate Students Financial Aid Q&A

1. How do I know if I’m eligible for financial aid?
You are eligible for financial aid by filing the FAFSA. As a graduate student the only financial aid is loans.

2. What will I need to fill out the FAFSA?
You will need your past tax return information for two years from when you are filing the FAFSA. 

3. Do I have to complete the FAFSA again if I’ve done it before?
Yes, the FAFSA needs to be completed each academic year if you are using federal loans.

4. If I am an undergraduate student going right into graduate school, do I need to include my parents’ financial information in the FAFSA?
No, you do not need your parents’ financial information for the FAFSA as a graduate student.

5. When do I need to file my FAFSA?
The FAFSA for the following academic year becomes available on Oct. 1 each year. You can file it at any time. 

6. How much financial aid can I receive for graduate school?
We can process loans up to the cost of attendance. As a graduate student you are eligible to borrow up to $20,500 of the graduate unsubsidized loan per academic year once your FAFSA has been filed. We can also process graduate PLUS loans up to the cost of attendance.

7. Do I have to keep paying off my undergraduate loans while I’m in graduate school?
No, you can defer making loan payments until 6 months after you have graduated graduate school.

8. How many hours is considered full time for a graduate student?
Six credit hours per semester is considered full time as a graduate student.

9. How many credits should I take if I’m working full time?
At least 6 credits to remain full time so that we can process federal loans for you. Many students are able to take 3 credits in session I and 3 credits in session II of the semester. That way you are only taking one course at a time. 

10. What types of federal aid are available to me?
As a graduate student, the federal loans that are available to you are the Graduate Unsubsidized Loan and the Graduate PLUS loan. 

11. Where else can I look for funds?
If you are a ground graduate student you are eligible to apply for the Deans Scholarship through Graduate Admissions.