Prospective Students
Current Students
Q: Will I be able to get student loans in the current credit market?
A: YES. If you are a U.S. Citizen or Permanent Resident and are not in default on a federal loan, you are guaranteed Direct Loans. All Psy.D. candidates are awarded $37,165 per year in Direct Loans, and all M.A. and certificate candidates are awarded $20,500. These loans are guaranteed by the federal government and do not require credit approval.
Students requiring additional loan money have the option of applying for Direct Graduate PLUS loans and/or Alternative (private) loans. Both of these types of loans are granted based on credit history, but endorsers (cosigners) are allowed.
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Q: Do I make too much money to be eligible for federal student loans?
A: No. All students are awarded the same total amount of federal loans, regardless of family income. Students who demonstrate financial need on the FAFSA (need is defined as a student's cost of attendance minus his or her expected family contribution) will be awarded a portion of their Direct Loans as subsidized loans (up to $8,500 per year). Subsidized Direct Loans do not accrue interest as long as the student maintains at least half-time enrollment in school.
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Q: Are any federal grants available?
A: Unfortunately, there are no federal grants available for students at the graduate level.
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Q: What kind of financial aid is available to Canadian and other international students?
A: In addition to Canadian Student loans, Canadian and all international students can apply for Alternative student loans. These are private loans with varying interest rates that many banks and lenders offer. For all international students, Alternative Loans require a co-signer who is a U.S. citizen or permanent resident and has established credit within the U.S. The interest rates on these loans tend to be high for international borrowers, although they do vary by the lender you choose.
International students are not eligible for federal work study positions, but the Adler School offers some institutional work study positions, which are available to all students.
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Q: How much can I expect to earn if I am hired for a work study position?
A: Work study positions pay by the hour, and the amount of hours a student will work each week varies by position. Positions may offer up to 20 hours of employment per week while school is in session and up to 40 hours per week (pending department approval) during school breaks. All work study positions pay $11 per hour. Students hired for federal work study positions can earn a maximum of $8,000 each academic year.
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Q: I've accepted the maximum amount I can receive in Direct Loans, but it doesn't cover all of my expenses. How do I apply for additional loans?
A: First, you must figure out how much money you need. Students are eligible to receive up to $8,860 per semester in a refund check. This means that you may apply for enough money to cover any tuition costs not covered by your Direct Loans, and another $8,860 for your living expenses. If you apply for too much, the school will return the extra money. Once you know how much money you need, determine the type of loan you would like to apply for and choose a lender. Click to learn about Direct Graduate PLUS Loans and Alternative Loans, two options available to students who wish to take out additional financial aid after accepting Stafford loans.
View our Applying for Financial Aid page to learn about how to apply for additional loans. Once you have applied, it will take 4-6 weeks for your loans to be processed and the money to be applied to your account.
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Q: Why did I get a bigger / smaller refund check this term than last term when I accepted the same amount of financial aid?
A: If you have accepted the same amount of financial aid for each term but your refund check is different, this means that the cost of your tuition and fees has changed from one term to the next. This is very common, as most students do not take the same number of credit hours each term, and tuition is charged by the credit hour. All financial aid is first applied to your balance and then you are issued a refund check for the amount that is left over, so if your balance is greater because you are taking more credit hours, you will receive a smaller refund check.
To help you determine the amount of your refund check before it is issued to you, you can download the budget calculator available through Moodle. When this spreadsheet is completed, the bottom line shows the amount of your remaining balance or refund check, along with the maximum amount that you can still apply for within a given term.
Please contact the Office of Financial Aid if you have any questions about calculating the amount of your refund check.
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Q: "Federal Work Study" is listed on my financial aid award letter. Does this mean that I am guaranteed a job on campus?
A: No. "Federal Work Study" will be listed on your award letter if you meet minimum eligibility requirements to be hired for a federal work study job. You must apply and be hired for a position to earn federal work study money. Federal work study job openings are posted on Moodle in the Student Services Hub. Application requirements vary by position, but most require submission of a resume or CV and cover letter. Hiring for work study positions can be competitive, especially at the beginning of the fall term.
Please note that eligibility for federal work study is affected by the total loan amount you accept; although work study may be listed on your award letter, you may not be eligible to earn the entire amount listed. If you are unsure whether you are eligible to apply for a federal work study position, please contact the Office of Financial Aid.
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Q: What is an exit interview?
A: The exit "interview" consists of completing a form which reiterates your responsibilities as a borrower of federal student loans and asks you for references. All students who complete a degree program (including students who are continuing in another program) or discontinue receiving financial aid are required to submit the exit interview form. We will mail this to your address of record. You are most welcome to come in, however, if you have specific questions about your loans or about loan repayment.
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Q: I applied for a Direct Graduate PLUS/Alternative loan online, but haven't received my money or heard anything from the Adler School staff. What's going on?
A: You must complete and return an Application for Additional Financial Aid (Available through Moodle) to the Office of Financial Aid before we will certify any Direct Graduate PLUS or Alternative loans. We accept these completed forms by mail or fax, or you can drop them off in the Financial Aid mailbox on the 21st floor. Processing typically takes 4 to 6 weeks after the date that the form is received.
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