The financial aspects of attending graduate school can be challenging.
At St. Edward's, we strive to provide the guidance and help you need. You’ll be paired with a St. Edward’s financial services advisor who will work with you throughout your time at St. Edward’s — answering questions and informing you about payment plan options.
3-Step Graduate School Financial Aid Process
1. Apply for Admission to St. Edward's
If you have questions about financial aid prior to applying for admission, please contact Student Financial Services at 512-448-8523.
2. Complete the FAFSA
Go online to the U.S. Department of Education to complete your FAFSA. The Free Application for Federal Student Aid (FAFSA) asks questions about a family's income and assets to determine an Expected Family Contribution, or EFC. Make sure to list the St. Edward's federal school code, 003621, in the school release section.
You will receive an email acknowledgment from the Department of Education. (If you do not receive a response within 48 hours, contact the Federal Student Aid Information Center at 800-433-3243.) St. Edward’s should receive your FAFSA results within a week. In our student portal, myHilltop, you can track when we receive your FAFSA information.
3. Notification of Awards
After you’re admitted and have provided all the required documents, you’ll receive a financial aid offer email. You’ll view and accept the aid offer, and complete any additional requirements to secure your aid offer in myHilltop.
Outside Scholarships
Learn more about Outside Scholarship Opportunities (scholarship funding outside of St. Edward's)
St. Edward's does not offer scholarships for our graduate programs. However, outside scholarships may be available through other organizations. See a list of scholarship resources.
Assistance Programs for Veterans
If you are a veteran of the U.S. Armed Forces, you may be eligible to use your VA Educational Benefits at St. Edward’s. (Hazlewood benefits cannot be used because of our private university status.) Our Veteran Affairs office can help determine your eligibility and answer any questions you might have and can be reached at 512-492-3193 or dnoll@stedwards.edu.
Loans
When you file your Free Application for Federal Student Aid, or FAFSA, you will automatically be considered for these financial aid options.
Loans require repayment.
Federal Direct Student Loans
All eligible students can borrow through the U.S. Department of Education's Direct Loan Program, designed specifically for college students. This low-interest loan program allows you to defer payments while you are enrolled in a degree/certificate program for at least six credit hours, with repayment beginning six months after you graduate or drop below half-time enrollment status. Students must remain in good academic standing with a minimum GPA of 3.0, and successfully complete 75% of their courses each academic year.
Note: If you accept one of these loans, you must complete a Federal Direct Loan Promissory Note and complete a debt management session in addition to filing a FAFSA.
Private Education Loans
St. Edward’s also maintains information on a number of alternative loan programs. Repayment of most of these loans can be deferred while you are enrolled at least part-time. Plus, you don’t need to complete a need-analysis form, like the FAFSA. You just need to pass a standard credit check or have a co-signer on your loan.
Education Loans
Many of our graduate students use educational loans to help finance the cost of their education in lieu of higher interest credit cards or short term payment plans. The Federal Direct Unsubsidized Student Loan in particular, provide easy eligibility criteria, deferment of payments while enrolled, extended repayment periods, flexible repayment options, and low, fixed interest rates.
Federal Direct Unsubsidized Student Loan
The Department of Education provides a federal direct student loan for degree-seeking graduate students. This non-credit-based loan features a low, fixed interest rate, as well as deferment of payment during periods of at least half-time enrollment (6 credit hours). Submission of the Free Application for Federal Student Aid (FAFSA) is required to certify a student's eligibility to participate in this program.
| Annual Federal Direct Unsubsidized Student Loan Limit* | $20,500 |
*This amount is pro-rated for students attending just a single semester during an academic year.
Federal Direct Loan Interest Rates for 2024-2025
As of May 2024 the Treasury Department held a 10-year Treasury note auction that resulted the below interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2024 and before July 1, 2025.
Direct Unsubsidized Loans for Graduate and Professional Students 8.083%
Understand how interest is calculated and what fees are associated with your federal student loan.
Federal Direct Graduate PLUS Loan
The Department of Education also provides an additional credit-based loan opportunity for graduate students which allows them to borrow up to their full cost of attendance minus other aid. Payment typically begins 30 to 60 days after full disbursement of the loan funds to the university, although deferment provisions are available for students enrolled at least half-time in a degree seeking program.
Federal Direct Loan Interest Rates for 2024-2025
As of May 2024 the Treasury Department held a 10-year Treasury note auction that resulted the below interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2024 and before July 1, 2025.
Federal Direct Graduate PLUS loan Interest Rate 9.083%
Submission of a FAFSA as well as completion of an entrance loan counseling session are required as part of the application process. Learn more through Federal Student Aid.
Aggregate Loan Limit
$138,500 for graduate or professional students-No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.
Entrance Loan Counseling
A student who accepts a Federal Student Loan is required to complete entrance counseling. Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You'll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default.
Understanding Loan Repayment
A student that has borrowed a federal loan is required to complete exit counseling when you leave school or drop below half-time enrollment. The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment
Learn more about make payments, change repayment plans, explore options, and get help at the Deportment of Education Student Financial Aid website.
Forgiveness Scams
If the emails, phone calls, and text messages you’re receiving about student loan forgiveness are setting off your scam sensor, we’ve got you covered. Learn more about the most common student loan forgiveness scams and how to avoid them. Visit Federal Student Aid.
Private Education Loans
Remember that interest rates and fees are generally lower for federal student loans than private student loans.
St. Edward's, in conjunction with Elm Resources, maintains information on a number of alternative loan programs offered through private banks and lending groups
Because these are non-federal loans, each lender sets its own eligibility criteria, interest rates, processing fees, and repayment terms. Generally, students must meet fairly high credit standards to qualify on their own, so many students will need a credit-worthy cosigner in order to qualify. If approved, students can typically borrow up to their full cost of attendance minus any other aid the student is receiving for the period of attendance set to be covered by the loan. Students will receive a finalized disclosure statement after their master promissory note has been signed confirming the terms and conditions of their loan from the lender.
Truth in Lending Act - Under the Federal Truth in Lending Act (TILA), the lender must provide the following documents:
- Private Education Loan Applicant Self-Certification Form: Students must complete this form and return it to the lender before receiving their first disbursement of loan funds.
- Federal Direct Loan Disclosure Statement and Right-to-Cancel Period: After the student signs the promissory note, the Federal Direct Loan Disclosure Statement confirms the terms and conditions of the loan. At the time that this disclosure is delivered, the right-to-cancel period begins. During this period of three to six days, the student may cancel the loan by contacting the lender. The lender cannot release the first disbursement of the loan funds until the end of the right-to-cancel period.
Due to the required credit review, Student Financial Services cannot guarantee that all students who apply will qualify for loan funds. Approval is determined by the lender.
Please note that a lender's inclusion in this list is not meant as an endorsement by the university, nor is it meant to limit your selection of a private education loan. These particular lenders have been included because:
- they have a proven track-record of reliable customer service;
- they offer competitive interest rates and repayment terms; and
- they utilize electronic processing compatible with the university’s financial aid management system ensuring consistent and timely delivery of loan funds.
However, the Office of Student Financial Services will certify an application for any private education loan regardless of whether the lender appears on this list or not.
Once you have decided upon a lender, please contact your Student Financial Services Advisor for information you'll need to provide as part of your application for the loan, including loan period, cost of attendance, and total amounts of other assistance.
St. Edward's University does not receive any form of payment or renumeration from lenders in exchange for inclusion on this list.