2013 - 2014 - Graduate Student Loan Estimator

This worksheet is being provided to help you estimate how much you may want to borrow in order to cover your educational expenses. Remember that everything you borrow needs to be repaid with interest so borrow wisely.

Be advised that Graduate students must complete 32 weeks AND earn at least 18 credits in order to maintain eligibility for loans. One way to do this is to reduce your borrowing so that funds are available over 8 terms instead of 4, thereby enabling you to enroll in one class each term and still have funds available to pay for your education.  This is the recommended approach because it helps to reduce your indebtedness and makes the most of your student loan dollars.  You could also take 3 credits in term #1, 6 credits in term #2, 3 credits in term #3 and 6 credits in term #4. However, if you do this, be sure to manage your CASH FLOW to ensure that you have sufficient funds available when taking 6 credits.

Taking courses that are less than 8 weeks long can also create a challenge when trying to meet the 32 week requirement. Therefore, we suggest that if you do take a short course that you do so concurrent with a full 8 week class.

Students who fail to complete BOTH the week and credit requirements of the academic year will not be eligible for a new loan until these requirements have been satisfied.

Please call the Financial Aid department if you have any questions regarding this requirement.

The MAXIMUM STAFFORD LOAN amounts that a Graduate student can borrow is not to exceed $20,500.00 for every Academic Year (32 weeks and 18 credits) enrolled.

This is an estimate only. Actual amounts may vary due to loan fees, course fees, tuition rates, etc. Books are purchased through an external vendor and require payment to a third party other than Ottawa University.

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