Financial Aid

Eligibility Requirement

• Must be a U.S. Citizen or eligible non-citizen
• Admitted to a degree seeking program or an eligible certificate program
• Awards are posted based on full-time enrollment (9 graduate credits or more) but the amount will be prorated if you enrolled half-time (6-8 graduate credits)
• Not be in default on a previous student loan or owe a repayment on a previous federal aid award received at any institution
• Meet SAP requirement (Satisfactory Academic Progress) 

Funding for this grant is dependent on the availability of funds every term and due to limited funding, we are not able to offer the grant to every eligible student. You must complete a FAFSA application and be eligible to receive federal aid in order to be considered for this grant. A separate application is required, and it opens usually a couple of weeks before the start of every term and it gets awarded at the start of each term. Receiving the grant in the fall and/or spring terms does not guarantee a summer offer.

All veterans’ education benefits are processed and managed by FIU Veterans and Military Affairs office. The FIU veteran’s office will assist you in receiving your education benefits from the U.S. Department of Veterans Affairs. They are also available to assist you in areas that will assure your academic success at FIU. Veteran’s office main goal is to provide education benefit and support Veterans, Active Duty, Reservists, eligible dependents, and spouses enrolled at FIU.

Please contact FIU Veteran and Military Affairs office at 305.348.2838 or by email at veterans@fiu.edu. More detailed information about FIU Veteran and Military Affairs.

The recently enacted One Big Beautiful Bill Act (OBBBA) bring major changes to the federal loan programs. These changes will affect many students and families, with the greatest impact on graduate and professional students who will see stricter loan limit for borrowers and the elimination of Graduate PLUS loan program for new borrowers effective July 1, 2026.

Current Borrowers

These changes primarily affect student who begin borrowing on or after 1, 2026. If you are currently enrolled or already borrowing federal loans, legacy provision may allow you to continue under the existing rules for a limited period of time-pending final rules from US Department of Education. Additionally, students and parents who have borrowed under the Federal Direct Loan Program before July 1, 2026 may continue to access loans under the expiring limits for up to three additional years, or for the remaining time needed to complete your current degree. This is calculated by the minimum length of your program, less the amount of time you have completed, whichever is sooner, assuming student does not stop attending, changes programs or does not have an approved leave of absence.

Upcoming Changes to Federal Student Loan Limits

The new borrowing limits under the Federal Direct Loan Program, effective July 1, 2026, graduate students would retain the current annual Unsubsidized loan limit of $20,500, but borrowing would be capped at $100,000 in the aggregate. A new lifetime limit of $257,500 would apply to all student borrowers starting the 2026-2027 school year. This limit includes loans received as an undergraduate, graduate, or professional student and include both Direct Loans and Federal Family Education Loans (FFEL) Program loans. Note: PLUS loans for graduate or professional students (both Direct & FFEL) will be included in the lifetime maximum borrowing limit.

Once the borrower reaches the $257,500 lifetime maximum aggregate loan limit, the borrower will no longer be eligible to receive additional Title IV loans, even if the borrower loans have been repaid, forgiven, canceled, or discharged.

Loan “Reduction or Proration” for Less Than Full Time Enrollment

The OBBB Act includes new requirement that federal student loans must be reduced proportionally when a student is enrolled less than full-time. Students not enrolled full-time per term, will have their loans reduced proportionally.

Full-Time Requirement – Graduate Students
Fall & Spring = 9+ credits
Summer = 6+ credits

Loan Eligibility

Recipients of federal loans must meet the following criteria:

• Must be a U.S. Citizen or eligible non-citizen
• Admitted to a degree seeking program or an eligible certificate program
• Be enrolled at least half time (graduates=5+ credits) when loan proceeds are received
• Not be in default on a previous student loan or owe a repayment on a previous federal aid award received at any institution.
• Meet SAP requirement (satisfactory academic progress)

Federal Direct Stafford Loan

Students who have been admitted and completed their FAFSA application will be offered Unsubsidized Federal Stafford Loans. Graduate students may borrow up to a maximum of $20,500 per academic year through the Federal Direct Loan program. The actual amount a student is eligible to borrow cannot exceed the program cost of attendance, minus any other assistance received. The Direct Unsubsidized loans will accrue interest from the moment the loans is disbursed to the student. Students may choose to pay the interest while attending school; if allowed to accrue it will be capitalized (added to the principle amount of your loan). There is a fixed interest rate as well as an origination fee for direct unsubsidized graduate loans. The origination fee will be subtracted from the amount borrowed, and will be reflected in the disbursements issued to the University.

Loan Award Requirements:

• Entrance Counseling https://studentaid.gov/
• Signed MPN (Master Promissory Note) https://studentaid.gov/
• Be enrolled at least half-time

Step by Step Guide to Complete the Direct Master Promissory Note & Entrance Counseling.

To receive a Direct Loan disbursement, students must complete both the Master Promissory Note (MPN) and Entrance Counseling. The MPN is a legal agreement in which the borrower agrees to repay the loan, while Entrance Counseling ensures the student understands their rights, responsibilities, and loan repayment obligations. Both requirements must be completed before loan funds can be released. Complete both loan documents online at https://studentaid.gov/.

Private education loans are non-federal educational loans available from a variety of national lending institutions. Alternative loans help bridge the gap between the actual cost of your education and the amount you may borrow in the federal student loan program. Since federal student loans may be less expensive and/or offer better terms than private student loans, you should consider exhausting your eligibility for federal student loans before applying for private student loans.

An alternative or private loan is a loan in the student’s name; however, these loans generally require the signature of a credit worthy co-signer. Minimum and maximum loan amounts vary depending on the lender you choose.

Private Education Loan Self-Certification Form

Lenders are required to obtain from borrowers an applicant self-certification form when requesting any educational loans. You must submit the Self-certification form to your lender as part of the application process of a private student loan you can obtain the form by clicking on this link Private Education Loan Applicant Self Certification form.

Applying for a Private Loan

The financial aid office will honor requests to certify private student loans from any lender, even those that do not appear on the ELM Select portal. Students are encouraged to shop around to find the lender and loan product that best suits their needs. We advise students to carefully review your options and the terms and conditions before applying. Carefully, consider all your options and review terms and conditions before applying. Borrow only what is necessary to pay for your educational expenses (tuition, fees, supplies, room, board), and be sure to first apply for federal student loans at https://studentaid.gov.

ELM Select is an external website that allows students to review the Lender List, compare products, and apply for private loans.

Private Student Loan Disbursement

Once the private loan has been certified by the school, the lender sets the actual disbursement date. The Truth in Lending Act (TILA). TILA 128(e)(7) and (8) indicate a borrower must be informed that he or she has three business days to cancel a private educational loan from the point the loan is consummated (finalized). If the borrower cancels within those three days, the borrower cannot be charged any fees on the loan or otherwise be penalized. During those three days, the lender cannot make a disbursement of private educational loan funds to the school.

(7) RIGHT TO CANCEL.—With respect to a private education loan, the borrower may cancel the loan, without penalty to the borrower, at any time within 3 business days of the date on which the loan is consummated, and the private educational lender shall disclose such right to the borrower in accordance with paragraph (4).

(8) PROHIBITION ON DISBURSEMENT.—No funds may be disbursed with respect to a private education loan until the expiration of the 3-day period described in paragraph (7) of the Act.

International Students- Assistance and Scholarships

Awards are Subject to Change

All financial aid awards are offered based on full-time enrollment for the academic year (Fall/Spring).  If you are not enrolled as full-time for each term, your financial aid awards maybe reduced or cancelled. All summer awards are generally offered based on half-time enrollment, however depending on your program you may be required to enroll higher than half-time.

Award Adjustments

Each semester, after the add/drop period, your awards will be pro-rated based on your actual enrollment. Change in enrollment may cause a reduction of your cost of attendance and financial aid awards.

Satisfactory Academic Progress Policy

The Office of Financial Aid is required by federal and state regulations to monitor the academic progress of potential and current financial aid recipients.  Financial aid applicants must comply with FIU Satisfactory Academic Progress Policy (SAP) as a condition of initial or continued eligibility.  Please note that even if this is your first time applying for financial aid the SAP policy still applies and prior academic progress will be evaluated to determine your eligibility for financial aid.  Please click on the link below to view FIU SAP Policy in detail.

SAP Policy:  http://onestop.fiu.edu/financial-aid/satisfactory-academic-progress/index.html

Financial aid funds are disbursed electronically to the Student Financials Office. If you are in compliance with the award conditions set forth for the financial aid award, the Financial Aid Office will release your financial aid funds electronically to the Student Financials Office. Tuition and fees, book advances, housing charges and other allowable charges will be deducted from your scheduled financial aid. Once all charges have been paid for the term, Student Financials Office will process your refund within 2-3 business days from disbursements.

Posted Direct Loan disbursement dates are dates of anticipated receipt of funds which allows the office to begin the release of your funds to the Student Financials Office. Scholarship disbursements will occur after the add/drop period of each term.

**For programs whose summer courses begin in June, both the loan disbursement and grant will take place on the first day of classes in June.

Sign Up for Direct Deposit

Your financial aid refund can be deposited into your personal bank account. Sign up by logging in to your account under the Finances section of your account. https://my.fiu.edu.

Graduate Student Loan Request Form

The Graduate Student Loan Request Form is available through MyFIU.

Log in to MyFIU

After signing in:

• Select the Student Tools tile.
• Select the Student E-Forms tile.
• Select College of Business from the menu on the left.
• Select COB - Graduate Student Loan Request Form from the list of forms on the right.

Navigation path:

MyFIU → Student Tools → Student E-Forms → College of Business → COB - Graduate Student Loan Request Form

Need assistance? Contact the Chapman Graduate School Financial Aid Office at cobfa@fiu.edu or 305-348-8045.

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