Jun 20, 2024  
The Elmira College Graduate and Professional Catalog 2023-2024 Academic Year-Volume I 
The Elmira College Graduate and Professional Catalog 2023-2024 Academic Year-Volume I

Financial Aid

Graduate degree-seeking (matriculated) students enrolled at least half-time (six credits per term) may apply for financial assistance in the form of loans (borrowed money that must be repaid with interest).

Contact the Office of Financial Aid with the number of credits you plan to complete each term and report any outside sources of aid (including teacher credits) if applicable prior to loan certification. Phone: (607) 735-1728, Fax: (607) 735-1718, Email: finaid@elmira.edu.

Eligibility is determined upon completion of the Free Application for Federal Student Aid (FAFSA). Filing the FAFSA on-line at www.fafsa. gov with an FSA ID for electronic signature is the fastest way. Once the FAFSA is processed, Federal Student Aid will send you a Student Aid Report (SAR) which is a summary of the information from your FAFSA.

You must be a United States citizen, permanent resident, or eligible non-citizen and must be in good academic standing and not currently in default on a federal student loan.

Federal Direct Unsubsidized Loans

You may borrow up to $20,500 per school year. A Federal Direct Loan Master Promissory Note* (loan application) and Direct Loan Entrance Counseling must be completed at www.studentloans.gov.

Federal Direct PLUS Loan

If you need to borrow more than the maximum unsubsidized loan amount to meet your education costs; a credit check is performed during the application process. Financial Aid A Federal Direct PLUS Loan application and Federal Direct PLUS Loan Master Promissory Note must be completed at www.studentloans.gov. Master Promissory Notes are valid for ten years and completion is required only for the student’s first loan certification.

You may not borrow more than the cost of education minus other financial aid as determined by the college. Four weeks should be allowed for approval of a loan. Generally, if the loan is for the academic year, the amount will be divided into at least two disbursements.

What is the Interest Rate?

The interest rate is determined annually for new loans that are made between July 1 of one year and June 30 of the following year. Each loan will have a fixed interest rate for the life of the loan. You are responsible for the interest during all periods. In addition to interest, you pay a loan fee that is a percentage of the principal amount of each loan. The fee is deducted before you receive any loan money, so the loan amount you actually receive will be less than the amount you have to repay. The current fees by loan type are available at StudentAid.gov/interest.

When Will I Begin Repayment of My Loan?

Repayment begins six months after graduation, withdrawing from school or dropping below half-time status.

Academic Requirements for Aid Eligibility

Failing to enroll for the credit hours specified in your award letter or a drop or withdrawal from a course may result in a decrease or cancellation of your loan. Students must meet grade point average requirements for continuance of aid.


Federal Student Aid Information Center to ask questions about student aid, to check on the status of a FAFSA or to request a duplicate Student Aid Report. Students may also call 1 (800) 433-3243.

Find detailed information about federal student aid and the FAFSA application process. The site includes helpful publications and tools for managing Direct Loans.

Get more information about completing your Master Promissory Note, Direct PLUS Loan requests, and entrance counseling.

National Student Loan Data System (NSLDS ®)

For information about all of your federal student loans and federal grants, visit NSLDS. Note that NSLDS does not include information about any private loans you may have received.