Helping graduate students pay for college
Graduate students have the option to borrow Federal Direct student loans or private educational loans to help towards their educational costs. Below are the steps necessary to borrow a Federal Direct student loan.
You must apply for financial aid annually and priority is given to applications submitted by March 1 for summer and May 1 for fall/spring. Students who apply for loans closer to the beginning of the semester may need to pay for tuition temporarily (i.e., credit card, payment plan) until the loan is finalized.
Visit the Federal Student Aid Repayment Estimator to calculate loan payments and choose a loan repayment option that best meets your needs and goals.
Steps to Apply for Federal Loans
Step 1: Acceptance
You must be accepted into a graduate, certificate, or licensure program at Ashland University that allows you to borrow federal student loans, and you must enroll at least half-time.
Students seeking a graduate licensure (superintendent, principal, school nurse, or other administrative licensure) are not eligible to borrow federal loans, but can apply for a private loan to cover their educational costs. Begin your search for a private lender under “Additional Loan Resources” at the bottom of this page.
Step 2: Compete the FAFSA
File a FAFSA with Ashland University’s school code (003012) so your FAFSA results will be released to us. AU's Financial Aid Office must receive a FAFSA for you in order to process federal loans.
Step 3: Determine how much you need to borrow to cover your costs
Determine the amount you need to borrow before submitting an AU Financial Aid Application (Step 4 below). You can view the tuition and fee information for your program of study here (seminary students click here) Also, refer to our Graduate FAQ's to determine how much you may be eligible to borrow each year.
Remember to factor in the approximate 1.1% loan origination fee deducted from your federal loans when making your loan request. Carefully determine your financial needs for the FULL academic year and only borrow what you need in order to limit your overall loan debt.
Step 4: Complete AU's Financial Aid Application
Once you know how much you need to borrow, complete the appropriate application below. Graduate financial aid applications are processed on a first-come first-served basis with priority given to applications submitted by March 1 for summer and May 1 for fall/spring. We will not process financial aid applications with blank or $0 listed as the dollar amount to borrow.
| SEMESTERS | APPLICATION LINK |
| Fall 2021 and | Financial Aid Application – Graduate/Seminary/Bachelor Plus/Certificates |
| Summer 2022 | |
| Fall 2022 and | Financial Aid Application – Graduate/Seminary/Bachelor Plus/Certificates |
Step 5: Complete Required Federal Processes
If you are a first-time Federal Direct Loan borrower, you must complete the following at studentaid.gov to borrow Federal Direct student loans.
- Direct Loan Master Promissory Note for “Subsidized/Unsubsidized Loans.”
- Loan Entrance Counseling
Step 6: Review Your AU Offer Letter
We must receive both your FAFSA and the AU Financial Aid Application to package your financial aid. It may take approximately 7 to 10 business days from the time both requirements are received for our office to package your federal loans and finalize your AU Offer letter. You will receive an email from the Financial Aid Office when your AU Offer letter is viewable on your Self-Service Financial Aid portal.
If you need funding in addition to or do not qualify for Federal Direct Loans, you can apply for one of the following. NOTE: Approval for these additional loan resources is credit-based.
Additional Loan Resources
Private Education Alternative Loan
You will need to choose a lender and apply with that lender for the loan. Ashland University has provided a Private Loan Comparison List through FASTChoice for your review, but you may select any lender you wish. You are not required to choose a lender from the list and are encouraged to apply with other lenders if you would like.
Federal Graduate PLUS Loan
Master’s and Doctoral degree-seeking students who have exhausted their Federal Direct Loan eligibility and still have room to borrow up to the cost of attendance may apply for a Federal Graduate PLUS Loan. To apply, follow these steps at studentaid.gov after "Signing In" with your FSAID:
- Every year, click the drop-down that says "Apply for Aid," and choose "Apply for a Grad PLUS Loan" to request the dollar amount of your loan and have a credit check completed. Remember to factor in the loan fee the government deducts from your loan when requesting the amount. To view the current fee percentage, click here.
- For new Federal Direct Graduate PLUS Loan borrowers, also click the drop-down that says "Complete Aid Process," and choose "MPN for Graduate/Professional Students" at studentaid.gov and "Complete Loan Entrance Counseling."
Federal Parent PLUS Loan
Parents of dependent Bachelor’s Plus students who have exhausted their Federal Direct Loan eligibility and who are enrolled at least half-time may apply for a Federal Parent PLUS Loan. To apply, follow these steps at studentaid.gov after "Signing In" with your FSAID:
- Every year, click the drop-down that says "Apply for Aid," and choose "Apply for a Parent PLUS Loan" to request the dollar amount of your loan and have a credit check completed. Remember to factor in the loan fee the government deducts from your loan when requesting the amount. To view the current fee percentage, click here.
- For new Federal Direct Parent PLUS Loan borrowers, also click the drop-down that says "Complete Aid Process," and choose "MPN for Parents" at studentaid.gov.