What are my options to pay for school?
Graduate education is a valuable investment in your career. Our goal is to help you secure resources to fund your education. Most students use loans, including these options:
- Direct Unsubsidized Loans (also known as Stafford Loans or Direct Stafford Loans): This is a federal loan that accrues interest while you are in school. The interest may be deferred for 6 months after graduation. You may obtain up to $20,500 a year from the unsubsidized Stafford loan. The current interest rate is 6.00% fixed with a 1.066% disbursement fee. Loans first disbursed after July 1, 2018; the interest rate is 6.60% fixed. Loans originated on or after October 1, 2018, and before October 1, 2019, will have a 1.062% disbursement fee. You are required to fill out the FAFSA form to apply for this loan. Visit studentaid.ed.gov for more information.
- Direct PLUS Loans: These are federal loans that graduate or professional degree students may use to help pay education expenses. This is a federal loan where interest accrues while you are in school. The interest may be deferred for 6 months after graduation. You may obtain up to cost of attendance from the Direct Plus loan. The current interest rate is 7.00% fixed with a 4.264% disbursement fee. Loans first disbursed after July 1, 2018; the interest rate is 7.60% fixed. Loans originated on or after October 1, 2018, and before October 1, 2019, will have a 4.248 % disbursement fee. Learn more at Federal Student Aid.
- Private Alternative Loans – private financial institutions offer a variety of financial products to help graduate students fund their education. Visit Elm Select to learn more about private lending options, and download the Private Loan Application.
Does the University offer a preferred lender list?
The university does not participate in a preferred lender list; student may acquire loans from any lender.
What steps do I take to complete the federal loan process?
Applying for a federal loan is a multi-step process. Please follow these instructions:
- To begin the loan application process, visit https://fafsa.ed.gov/ and complete the applicable year FAFSA application which will be good for one (1) year. The university’s Federal School Code is G31713.
- Complete and submit the Entrance Counseling on the Federal Student Aid website by logging in to https://studentloans.gov/ Select University of St. Augustine for Health Sciences to be notified.
- Sign a Direct Subsidized/Unsubsidized Master Promissory Note for USA at https://studentloans.gov/ Enter school code: G31713.
- If you are applying for a GAP loan, we encourage you to look at all of your options (Private versus Direct Plus) and let the Financial Aid office know your preference. These loans must be packaged at the same time as federal student loans.
- Once the FAFSA, interview, and promissory note are completed, the information you submitted will be verified. It may take two to six (2–6) weeks to complete the loan process. You will receive an email about your Awards Notification that will require your action to verify the amount you will receive each term and reply notifying if you want the amount revised, canceled or accept as shown. The document will indicate the amount of Student Federal Aid awarded and the date the loan will disburse to the university. You should review the Awards Notification t and the dates the loan will disburse to the university. Save this Awards Letter for future reference.
- Fall 2017 disbursements start on September 4th. Please note that if you apply late, these dates do not apply and loans will disburse after they are approved.
How much are students eligible to receive?
The maximum yearly loan amount you may receive from the Stafford Unsubsidized Loan is $20,500. Additional funding may be available through Federal Direct Plus or alternative private loans.
Which federal grants are available for graduate students?
There are no known federal grants available for graduate students.
What is an MPN?
An MPN is a Master Promissory Note. This note acknowledges your responsibility to repay all loans incurred during your education. Once an MPN has been signed, you should not have to sign another one during your education.
How will my financial aid be disbursed and/or refunded?
Federal loans will be disbursed to the university in three (3) equal amounts, once at the beginning of each trimester.
When will I pay for my first trimester?
The balance of your tuition is due when you register, but you will not be required to pay at that time if you have a loan pending. When the university receives the loan disbursement, the accounting department will apply tuition and fees and credit any loans pending on your behalf. After this is done, if you have a credit balance on your account, the remaining funds will be refunded back to you. You will be given instructions about how to sign up for direct deposit, in the event you would like your refund will go directly to the bank account of your choice.
Additional Recommendations From the Financial Aid Department
When to begin the financial aid process:
- If you are entering in the fall class, please begin the financial aid application process in June.
- Spring starts should start the process by Oct. 1.
- Summer start dates should begin by Feb. 1.
Have additional questions?
Please call to speak to a financial aid counselor. Although they are based on a campus, all counselors are available to help students at all locations:
- Florida Campuses (St. Augustine and Miami):
- Austin, TX Campus:
- Eloisa Augustus, [email protected] or 737-202-3306
- San Marcos, CA Campus: