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?
SBU grants, scholarships or discounts maybe available for select graduate programs. Please see our Scholarships and Aid page for up to date information on this. Students are also encouraged to look into external resources that may be available to them, including but not limited to employer benefits, tuition reimbursement, external scholarships, etc.