Financial Aid

To apply for financial aid, all applicants must submit the FAFSA (Free Application for Federal Student Aid) online at http://www.studentaid.gov/. We strongly recommend that you create your account before starting your FAFSA form. Your account username and password combination, called your FSA ID, will give access to certain information online and allows you to sign your FAFSA application and promissory notes electronically. Getting your FSA ID ahead of time will help cut down delays and errors on your application. Click here to Create FSA ID.

Financial Aid is granted on an annual basis (Fall, Spring and Summer Terms) and financial aid offers are subject to student eligibility and availability of funds. Students must apply, and reapply every year they are going to be attending school. It is strongly recommended students submit their FAFSA as early as possible, but at least two months prior to the start of your program.

For a short informational video on how to complete the FAFSA application please click here. When filling out the FAFSA, remember to add FIU school 009635 in your FAFSA application.

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) 

You may be eligible to receive a need-based institutional grant as part of your financial aid package depending on the availability of funds. You must complete a FAFSA application and be eligible. Receive federal student aid in order to be considered for this grant; no separate application is required. The grant is awarded during the fall and spring terms initially and depending on availability of funds, it may be awarded in the summer term in late April as part of the summer aid offer. 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 total outstanding Federal Direct Stafford Loan debt a graduate student may carry is $138,500, of which no more than $65,500 may be subsidized. This figure includes any Federal Stafford/SLS/Direct Loans a student may have received during their undergraduate studies.

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

Federal Graduate PLUS Loans

Students who have been admitted and completed their FAFSA application will also be offered a  Federal Direct Graduate PLUS Loan offer as part their financial aid package. The Graduate PLUS loan is based on credit-worthiness, which is determined by the federal government. A student’s maximum PLUS loan eligibility cannot exceed the cost of attendance of their program minus all awarded financial aid for the academic year. This loan has a  fixed interest rate as well as an  origination fee. The origination fee will be subtracted from the amount borrowed and is reflected in the disbursement to a student’s account. Interest will begin to accrue on this loan from the moment the loan is disbursed to the student. The Direct Graduate PLUS Loan 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).

Loan Award Requirements:

• Entrance Counseling   https://studentaid.gov/
• Signed MPN (Master Promissory note)   https://studentaid.gov/
• Be enrolled at least half-time
• Credit-worthiness check or Loan Endorser/Cosigner (Endorser will undergo credit-worthiness check)

What if the Graduate PLUS loan is denied?

Please contact the Department of Education's Applicant Services at 1.800.557.7394. Always check credit reports for errors. If there are problems that cannot be resolved, you may attempt to reapply with a cosigner.

Note: Beginning March 29, 2015, Direct PLUS loan applicants who have been determined to have an adverse credit history, but who qualify for a Direct PLUS loan by documenting extenuating circumstances or by obtaining and endorser MUST complete a separate PLUS Loan Counseling. This is separate from the Entrance Counseling. The special PLUS Loan Counseling can be found at https://studentaid.gov/. 

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

Step by Step Guide on how to Endorse a Direct PLUS Loan.

PLUS Credit Counseling: Beginning March 29, 2015, Direct PLUS credit applicants who have been determined to have an adverse credit history, but who qualify for a Direct PLUS Credit by documenting extenuating circumstances or by obtaining and endorser MUST complete a separate PLUS Credit Counseling. This is separate from the Entrance Counseling. The PLUS Credit Counseling can be found at https://studentaid.gov/. 

Step by Step Guide to completing the PLUS Credit Counseling.

Private student loans are non-federal educational loans available from a variety of national lending institutions. Eligibility for these loans is based upon a student’s credit history, income and other requirements set by the lender. Students should request a copy of their credit report and check it for any errors prior to submitting an application for a private loan. An application can be requested directly from the private lender of your choice.

If you are interested in loans from private lenders instead of those from the federal government, the FAFSA is not required. FIU provides a sampling of private loans at https://www.elmselect.com/ ELM select is an external website that allows students to review the Lender List, compare products, and apply for private loans.

INTERNATIONAL STUDENT

International students may borrow from lenders in the US, and most require borrowers to have a US citizen or U.S. Permanent Resident who can co-sign the loan for them. Visit https://www.elmselect.com/ and click the International Student option to find a list of lenders from whom international students at FIU have successfully borrowed.

International students should not complete a FAFSA, as it is only used to determine eligibility for aid available to US citizens and permanent residents.

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.

Loan Request Form

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