Graduate Students must have at least 5 hours /be part time to receive federal financial aid (9 hours is full time for a graduate student).
Need-based financial aid for graduate students consists of student loans. In addition to demonstrating financial need, general eligibility requirements for financial aid include acceptance for admission as a candidate for a degree or approved program, enrollment of at least a half time basis (5 credits per semester) and status as a U. S. Citizen or permanent resident.
To apply for need-based assistance, students must complete the Free Application for Federal Student Aid (FAFSA) on the Web at www.fafsa.ed.gov. Priority for funds administered by NC A&T will be given to applications received at the federal processing center by December 1.
Applications should be submitted as soon after October 1 as possible. To have your FAFSA information sent to NC A&T, enter our Federal School Code, 002905, in Step 6 of the FAFSA. Be sure to enter a housing code to indicate where you plan to live while attending the College. While it is preferable to use income figures from a completed income tax return, you may use estimated income figures if necessary to ensure on-time application. After the FAFSA is submitted, the federal processor will send you a Student Aid Report (SAR). Be sure that NC A&T is listed on the SAR; otherwise we will not be able to receive your information from the federal processor. If NC A&T is not listed or a SAR is not received within four to six weeks, contact the Federal Student Aid Information Center at 1-800-433-3243.
Note: NC A&T reserves the right to require verification of income data submitted by any and all applicants for financial assistance. Awards for those who are asked for such verification will be made conditional upon receipt of the requested information/documentation. Forms of documentation or verification that may be requested include, but are not limited to, copies of IRS tax transcripts and copies of authorization forms for untaxed income. Any discrepancy in reported figures may result in adjustment or cancellation of the financial aid award and may be reported to the federal government for further review and possible legal action.
Federal Direct Loans
Recent federal legislation eliminated Subsidized Direct Loans for graduate students effective July 1. Unsubsidized Direct Loans have an interest charge during the in-school and grace periods. The loans have a fixed interest rate of 6.8 percent. These loans also have a 1.0 percent origination fee, but the federal government will partially offset this with a .5 percent interest rebate. The repayment period extends up to 10 years, but there is a minimum monthly payment of $50.
Graduate students may borrow up to $20,500 per year from the Unsubsidized Direct Loan. In all cases, the total amount of student aid from all programs is limited to a student's total educational costs as determined by the Office of Student Financial Aid.
Direct Graduate PLUS Loan
Graduate students who have remaining educational expenses after borrowing their maximum annual eligibility under the Direct subsidized and unsubsidized programs may borrow from the PLUS program to meet the remaining portion of their cost of attendance. As noted above, the total amount of student aid from all programs is limited to a student's total educational costs as determined by the Office of Student Financial Aid.
Direct Graduate PLUS loans have a fixed interest rate of 7.9 percent. Repayment may be deferred for up to six months after you are no longer enrolled at least half time. As with the unsubsidized Direct Loan, interest accrues during the period of enrollment and grace period. In addition to interest, these loans have a 4 percent origination fee, but the federal government will partially offset this with a 1.5 percent interest rebate.