Need-Based Financial Aid Federal and state financial aid is awarded on the basis of need. Students who apply in January or February receive priority consideration for Perkins Loans and Work-Study Programs. Need is defined as the difference between the cost of education and the expected personal or family contribution. Graduate Students are considered independent from their parents. Both the federal and state work study programs provide part-time employment to graduate students who need financial help to meet educational costs.
Employment is available on campus or at participating off campus agencies.
Hourly wages are determined by the individual offices seeking work-study students. Perkins Loans are interest-free while the borrower is in school. Repayment of principal and interest of five percent begins nine months after graduation. Stafford Loans have interest rates capped at nine percent, depending on the current U.S. Treasury Bill. By federal regulation, some student aid applicant files must be verified for accuracy of financial information reported.