Graduate Financial Aid
Federal Stafford Loans
Federal Perkins Loans
Federal Plus Loans
Private Loan
Additional Questions
Applying for Financial Aid
The first step in the financial aid process is to complete the FAFSA (Free Application for Federal Student Aid). The FAFSA serves as the official application for federal student aid at the University of Notre Dame. The FAFSA is available at www.fafsa.ed.gov or from the Office of Financial Aid’s web site at http://financialaid.nd.edu/grad.
To be eligible for federal student assistance, a student must be a U.S. citizen, permanent resident, or eligible non citizen. Additionally, students may not be in default on a federal student loan nor owe a refund on a federal student grant. In addition to submitting the FAFSA, students must be prepared to submit a signed photocopy of their most current federal income tax return directly to the Office of Financial Aid upon request.
FEDERAL AID PROGRAMS
Federal Stafford Loans
The terms of the need based Subsidized Federal Stafford Loan Program require that the student borrower repay, with interest, this source of financial assistance. This program is referred to as subsidized because of the interest subsidy being paid by the federal government to the lender while the student is enrolled in school as well as during the six month grace period following enrollment.
The terms of the non-need based Unsubsidized Federal Stafford Loan Program require that the student borrower repay, with interest, this source of financial assistance. This program is referred to as unsubsidized because the in-school interest is not being paid by the federal government to the lender while the student is enrolled in school. Interest on Unsubsidized Stafford Loans begins to accrue after disbursement of the loan funds, however, the student may choose to have the payment of the interest deferred during enrollment and later capitalized (added to principal) at the time repayment begins.
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Federal Perkins Loan
The Federal Perkins Loan is a need-based loan made available by the University to assist graduate students experiencing financial hardship. The Perkins Loan program requires that the student borrower repay with interest this source of financial assistance.
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Graduate/Professional Federal PLUS Loans
The Federal PLUS Loan provides a borrowing option for graduate/professional students. Based upon the borrowers' creditworthiness, a graduate/professional student may borrow from this federally guaranteed, non need-based loan program. For additional terms, subject to revision by federal law, please visit the link above.
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Private Loan Programs
After exhausting the opportunities available from the federal aid programs, many students will consider private loan programs as a source of funding. The terms and conditions of these programs vary, and as such, students are encouraged to review the details of the programs before selecting a private loan program. Private loans are not eligible for loan consolidation programs made available for federal student loans. Interest rates, fees (both at the time of borrowing and at repayment), credit checks, and annual and aggregate loan limits require careful evaluation by the student as a consumer. As always, taking on debt for any reason should be done deliberately and only for amounts needed.
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Additional questions
Additional questions regarding the financial aid process can be directed to:
University of Notre Dame - Office of Student Financial Services
Phone: 574-631-6436
Fax: 574-631-6899
Email: finaid@nd.edu
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