faq’s about financial aid
- What type of aid is available?
We participate in the Federal Direct Stafford Loan Program which is part of the Title IV funding program. Stafford loans are available in two forms subsidized and unsubsidized. Subsidized loans have the interest paid by the government while the student is enrolled in school and unsubsidized loans accrue interest while the student is enrolled in school. Both types accrue interest upon repayment. In addition to Stafford Loans students may qualify for Federal Graduate PLUS Loans.
- How much aid can I receive?
Graduate students are eligible for up to $20,500 in federal Stafford loans per academic year. Based on your FAFSA calculations you may receive from 0 - $8500 in the subsidized form, and the additional amount up to a max of $20,500 in the unsubsidized form.
- Can I receive aid to help with living expenses?
Yes. In addition to tuition costs you may request student aid funds to help assist with your living costs.
- Do I have to start paying my loans immediately?
No. Students are not responsible to make payments on their student loan until 6 months after graduation or leaving the school, unless you have already used your 6 month grace period in which case you would not be responsible until graduation or exiting the school.
- How can I get grants or scholarships?
There are currently no federal grants available for graduate students but you may apply for outside scholarships or grants, and are encouraged to do so. Mars Hill Graduate School does have internal scholarship information click here. These applications will become available March 15th and the scholarships are due June 15th.
- How often do I need to re-apply for my financial aid?
Financial Aid is awarded on a yearly basis. Mars Hill Graduate School has 3 trimesters which make up one academic year. You will need to apply for aid prior to each school year. The financial aid deadline is May 15th - unless you are accepted to your program after this date.
- Who can I talk to if I have more questions about Financial Aid?
Please contact Student Financial Service (finaid@mhgs.edu) at Mars Hill Graduate School if you have any questions. We understand financial aid is an important part of your education and we are here to help you with any questions you may have.