Ursuline offers a variety of financial aid options to graduate students, making your goal of earning an advanced degree a reality.
Grants are need-based funds that do not have to be repaid. They come from a variety of sources and can be related to your intended major, financial need, or even your housing preferences. Though the specific grants you may be eligible for will vary, they all can generally be sorted into one of three categories: federal, state, or institutional.
Teaching Education Assistance for College and Higher Education (TEACH) Grant program provides grants up to $4,000 per academic year with an undergraduate maximum of $16,000 and a graduate maximum of $8,000 to students who intend to teach a high-need field in a public or private elementary or secondary school that serves students from low-income families. As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. Failure to complete this service obligation will result in all amounts of TEACH Grants that you received converting to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed.
Loan funds must be repaid, typically after graduation. While some students are intimidated by the idea of student loans, they are actually a great tool to help finance your education. Most Ursuline students report that their loan was worth it, and find that their payments are manageable after graduation.
All Ursuline College students who complete the FAFSA will be awarded the Federal Direct Loan based on their grade level for the academic year. As a graduate student, you may only borrow through the Federal Direct Unsubsidized Loan program.
Additional Loan Requirements
The Graduate PLUS Loan is a federal student loan designed for graduate students who have reached their annual maximum for the Federal Direct Subsidized and Unsubsidized Loans. Interest for Graduate PLUS Loans first disbursed after July 1, 2017 will be 7.0%.
To be eligible to receive a Grad PLUS loan the borrower must:
Private loans are funds from private lenders to help cover educational costs. There are private loans available for students or for parents. A student may want to consider a private loan when federal and/or state financial aid is not enough to cover the student’s cost of attendance.
Each private loan lender has specific criteria you must meet to qualify for a loan. Some loans may be for specific majors only and/or require a co-signer. Most lenders will review the applicant’s credit history. In addition, Ursuline College may be asked to certify that you are making Satisfactory Academic Progress and that you have not exceeded your cost of attendance.
Your estimated cost of attendance COA is a standardized estimate of what it will cost you to attend Ursuline College for the academic year. Private loans must be re-applied for every academic year.
Your estimated COA is comprised of the following components:
Your financial aid package (including private loans) cannot exceed your estimated COA. See the Tuition and Cost page for specific amounts.
Ursuline College understands that most employers do not reimburse until after the course ends and the grade has been received. To support this, Ursuline College will allow you to participate in the tuition deferment program that will allow you to postpone payment until 30 days after the course ends to pay your tuition in full.
To be eligible, you must do the following:
Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study.