Financial Aid Options For Rutgers University Graduate Students

Graduate students at Rutgers University can access financial aid in the form of merit-based aid, need-based aid, and non-need-based loans. Merit-based aid includes fellowships, assistantships, and scholarships, while need-based aid includes grants and employment. Non-need-based loans can be federal or private. Graduate students can also explore private loan options and scholarship opportunities to help finance their education. To apply for assistantships, fellowships, and scholarships, students should check the appropriate response on the Graduate Admissions Application. The university also provides special award opportunities to promote the diversity of its programs, including the Biomedical Research Support Program Fellowships and Bunting-Cobb Fellowships for Women in Math, Science, and Engineering.

Graduate students can apply for federal and state financial aid by filling out the FAFSA form

Graduate students can apply for federal and state financial aid by filling out the Free Application for Federal Student Aid (FAFSA) form. The FAFSA is used by educational institutions across the US to determine student eligibility for federally subsidised financial aid. While the FAFSA is the same form that students filled out during undergrad, it works differently for graduate students.

Graduate students are considered independent for financial aid purposes, so only the student's income and assets are taken into account. Graduate students have different loan and aid options than undergraduate students. Direct unsubsidised loans and grad PLUS loans are the only loans graduate students can qualify for, and most are ineligible for Pell Grants. However, graduate students may be eligible for other types of grant aid. There are no borrowing limits for grad PLUS loans, while graduate unsubsidised loans have a borrower cap.

To be eligible for federal financial aid, graduate students must meet the following requirements:

• Be a US citizen or eligible non-citizen
• Plan to attend an accredited university in an eligible degree program
• Demonstrate financial need for programs like grants and work-study

In addition to federal financial aid, graduate students can also apply for state aid and university-specific scholarships and grants. For example, at Rutgers University, students can apply for scholarships, grants, student employment, loans, and tuition payment plans. Rutgers also offers special funds for emergency situations.

Need-based aid is calculated by subtracting the expected family contribution from the cost of attendance

Rutgers University offers financial aid to eligible students to help them afford a quality education. This includes graduate students, who can benefit from scholarships, grants, student employment, loans, and tuition payment plans.

Now, let's delve into the concept of need-based aid and how it is calculated. Need-based financial aid is a type of financial assistance offered to students based on their financial need. The calculation of need-based aid involves determining the "Expected Family Contribution" (EFC) and subtracting it from the "Cost of Attendance" (COA).

The COA refers to the estimated cost of attending a particular college or university. It includes tuition and fees, room and board, books, supplies, transportation, and other expenses related to the school's policies. The COA is typically provided by the college before each academic year.

On the other hand, the EFC is the amount that the federal government estimates your family can contribute towards your college expenses for a given year. It takes into account factors such as your family's income, the number of dependents, and other information provided in the Free Application for Federal Student Aid (FAFSA). The EFC is included in the Student Aid Report (SAR) sent to you after submitting the FAFSA.

To calculate your financial need, the formula is: COA - EFC = Financial Need. This calculation helps determine the gap between the estimated cost of attendance and what your family can afford to contribute. The financial aid office at your college will use this information to decide on the types and amounts of grants, loans, and/or work-study opportunities to offer as part of your financial aid package.

It is important to note that your EFC does not necessarily represent the exact amount your family will pay. It is used as a reference point to determine your eligibility for various types of financial aid. By understanding the calculation of need-based aid, you can gain a clearer idea of the financial assistance available to you and make informed decisions about funding your graduate studies at Rutgers University or any other institution.

Graduate financial aid is available in three categories: merit-based, need-based, and non-need-based

Merit-Based Aid

Merit-based financial aid is awarded to students based on their achievements, whether academic, extracurricular, or athletic. Financial need is not a factor in awarding merit-based aid, so students with higher incomes can often qualify. Many merit-based awards are scholarships from nonprofits and private businesses. Students can also get merit-based scholarships from their school, especially if the school is looking for sports players or academically strong students.

Need-Based Aid

Need-based aid is designed for students with financial need. Most state and federal aid falls into this category. The Pell Grant is a common source of need-based aid from the federal government, providing funds based on the student's family income. As with all "grants", Pell Grant money does not have to be repaid. Need-based aid also includes institutional grants and scholarships, federal work-study, and federal loans.

Non-Need-Based Aid

Non-need-based aid includes private loans, which are usually offered through a bank or credit union. These should be taken out as a last resort, as the terms tend to be less favorable compared to federal loans.

Financial Aid at Rutgers University

Rutgers University strives to keep quality education within reach. The university offers scholarships, grants, student employment, information about loans, and tuition payment plans. Rutgers also offers an interest-free payment plan option.

To apply for financial aid at Rutgers, students must complete the Free Application for Federal Student Aid (FAFSA). Completing the FAFSA annually is how students apply to receive federal grants, loans, merit-based scholarships from Rutgers, and work-study offers. FAFSA applications also determine if New Jersey students are eligible for state aid.

Rutgers offers scholarships, grants, student employment, loans, and tuition payment plans

Rutgers University offers a range of financial aid options for graduate students, including scholarships, grants, student employment, loans, and tuition payment plans.

Scholarships

Scholarships are typically awarded based on academic merit, although some scholarships may also consider financial need. Rutgers offers various scholarships to first-year and transfer students based on merit and need. Additionally, the university provides special award opportunities to promote diversity, such as the Biomedical Research Support Program Fellowships and the Bunting-Cobb Fellowships for Women in Math, Science, and Engineering.

Grants

Grants are usually need-based and can come from federal, state, or university sources. Rutgers provides need-based grants to eligible students, helping them cover the cost of attendance, including tuition, fees, and other educational expenses.

Student Employment

Rutgers offers part-time employment opportunities for graduate students through the Federal Work-Study Program and regular Student Employment. These jobs allow students to earn money while gaining valuable skills and experience.

Loans

Loans are another option for graduate students at Rutgers, but it's important to remember that loans must be repaid, usually with interest. Federal, state, university, and private loan options are available, and Rutgers can help students explore financial aid options to minimise their loan burden.

Tuition Payment Plans

Rutgers also offers tuition payment plans, providing students with a flexible way to pay their tuition and fees over time. The university is committed to making quality education accessible and affordable for all admitted students.

Students can also apply for private loans and scholarships to help finance their education

Graduate students at Rutgers University can apply for private loans and scholarships to help finance their education. The university provides special award opportunities to promote the diversity of university programs. These include the Biomedical Research Support Program Fellowships, Bunting-Cobb Fellowships for Women in Math, Science, and Engineering, Diversity Advancement Fellowships, and more.

The university also offers merit-based scholarships and need-based programs to help qualifying students fund their education. All applicants to Rutgers–Camden are considered for merit scholarships. There is no separate application for merit scholarships, but students who submit an undergraduate admissions application by the priority deadline will receive priority consideration.

Rutgers University–Newark offers scholarships each year, and no separate application is required. Many have specific eligibility requirements and can be renewable, provided the student maintains full-time enrollment status and meets the minimum academic criteria for each scholarship.

Additionally, graduate students can apply for Federal Direct Loans by completing the Federal Application for Free Student Aid (FAFSA). These loans are not based on financial need, and interest accrues from the date of disbursement. There are also private educational loans issued by private institutions, with varying eligibility requirements, interest rates, and repayment terms and conditions.

Frequently asked questions