No matter where your graduate school search takes you, financing is bound to be a large part of the equation. The MFA Products of Design department is working hard to secure scholarship funds, but in the meantime here's a short guide to some work that you can do toward making the cost of graduate school affordable.
- We urge applicants to complete the FAFSA as early as possible, in order to maximize the amount of aid you will receive. Currently, graduate students are eligible for:
- Federal Perkins Loan
Award Description: Federal need based loan available to full and part time students. The Office of Financial Aid determines eligibility and loan amounts based on the student's financial need and the funding available from the federal government.
- Federal Stafford Loans
Award Description: Federal need based loan available to full and part time students. The Office of Financial Aid determines eligibility and loan amounts based on the student's financial need. Subsidized vs. Unsubsidized: The Stafford Loan has two variations, Subsidized and Unsubsidized. If the student demonstrates financial need, the federal government pays the interest (subsidizes) on the loan during the student's period of enrollment. Students with no financial need are eligible for the Unsubsidized Stafford Loan, and the student is responsible for the interest accrued during their period of enrollment.
- Federal Graduate PLUS Loans (GradPLUS)
Loan Description: Loan opportunity available to graduate students who do not have an adverse credit history. Graduate students may borrow up to the entire cost of attendance minus other estimated financial assistance.
- Federal Work-Study
Program Description: Federal need based employment award providing on- and off-campus employment opportunities. Most positions are with professionals in the field of the student's choice and are available on a first come, first serve basis.
The following sites offer a wealth of information on outside funding.
www.edupass.org – Funding resources for international applicants
www.foundationcenter.org online course – Tutorial on securing financial support from foundations
SVA Matching Outside Scholarships
Award Description: SVA will match 25% of any outside scholarship, up to $2500, that a student obtains for enrollment at SVA.
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