Janice Lozano
Emory University offers various financial aid options to help students graduate with little to no debt. The Emory Office of Financial Aid (OFA) assists eligible students in obtaining student loans, grants, scholarships, and work-study programs. The university also offers non-repayable grants to undergraduate students with demonstrated financial need through the Emory Advantage Program. Additionally, the U.S. Department of Education provides several low-interest loan options, including Direct Subsidized and Unsubsidized Loans, for degree-seeking students enrolled at least half-time. Emory University's OFA helps students navigate federal, state, and private loan opportunities to ensure they make informed decisions about their financial future.
| Characteristics | Values |
|---|---|
| Emory University's commitment | Helping students graduate debt-free |
| Emory Advantage Program | Offers non-repayable grants to undergraduate students with demonstrated financial need |
| Federal Direct Parent PLUS Loan | A U.S. Department of Education loan for biological, adoptive, or stepparents of undergraduate students enrolled at least half-time |
| FAFSA Simplification Act | Overhaul of federal student aid processes, starting in 2024–25 |
| Student loan debt | The more loan money borrowed, the more debt after graduation |
| Percentage of students with loans | 31% lower than the average for private not-for-profit schools |
| Emory Office of Financial Aid (OFA) | Assists eligible students with applying for and obtaining student loans |
| Determining financial need | Requires information from the previous year's tax return |
| Median federal loan debt | $18,250 among borrowers who completed their undergraduate degree |
| Median monthly federal loan payment | $193 if repaid over 10 years at 5.05% interest |
| Private loans | 3% of graduating students took out private loans, with an average debt of $67,378 |
| Federal loan options | Direct Subsidized Loans, Direct Unsubsidized Loans, Federal Perkins Loan, Health Profession Loans, Loans for Disadvantaged Students, and more |
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What You'll Learn
Emory University's Office of Financial Aid (OFA)
The university also offers need-based financial aid packages to a select group of international students each year. Emory's Medical Imaging program may also be eligible for institutional grants and scholarships based on demonstrated financial need or academic merit. Additionally, Emory University offers college funding sources and options for students and families receiving veterans' education benefits.
The U.S. Department of Education oversees several low-interest loan options available to degree-seeking students enrolled at least half-time. These include Direct Subsidized Loans, which are need-based and do not accrue interest as long as the borrower is enrolled at least half-time, and Direct Unsubsidized Loans, which are non-need-based and available to undergraduate, graduate, and professional students.
Student loans often have low interest and require repayment once enrollment drops below half-time. Emory University provides a list of private lenders that students have worked with in the past, and the Federal Private Education Loan Applicant Self-Certification Form, which must be completed and submitted before private educational loan funds are disbursed.
The FAFSA Simplification Act represents a significant overhaul of the processes and systems used to award federal student aid, with most changes starting with the 2024–25 award year. Emory University's website provides further information on the newly revised Supplemental Nutrition Assistance Program (SNAP) eligibility and other relevant policies and procedures.
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Federal Direct Parent PLUS Loan
The Federal Direct Parent PLUS Loan is a US Department of Education loan program for parents of undergraduate students enrolled at least half-time at Emory University. The loan is available to creditworthy biological, adoptive parents, or stepparents of students. Although the FAFSA is required to apply for a Parent PLUS loan, the awards are not based on need. Borrowers usually begin repaying the principal and interest within 60 days of the final disbursement.
To apply for a Parent PLUS Loan, parents must complete the following steps:
- Review your Financial Aid Award Notification Letter and cost sheet to determine the estimated loan amount. There is a 4.2% processing fee, so this should be considered when deciding on the loan amount.
- Go to studentaid.gov. Under the Loans and Grants dropdown, select "Get a Loan", then select "PLUS Loan". Click on the blue box to the right of "I am a Parent of a Student", then select "Login to Start" and follow the directions carefully. The application process should take around 30 minutes to complete.
- You will need your FSA ID to complete the loan process. If you do not already have one, you can apply for one at https://fsaid.ed.gov.
- Provide the required personal information: permanent address, mailing address (if different from the permanent address), telephone number, email address, alien registration number (if applicable), along with the name, address, and phone number of two personal references.
- Provide student information: the student's full name, SSN, and date of birth.
- Provide employer information: employer name and address.
It is important to note that the Federal Direct Parent PLUS Loan is not the only option for students seeking financial assistance at Emory University. The university offers non-repayable grants to undergraduate students with demonstrated financial need. Additionally, the US Department of Education offers low-interest Direct Subsidized and Unsubsidized Loans to degree-seeking students enrolled at least half-time. Emory University's Office of Financial Aid can provide further guidance on the various loan options available and help students and families navigate the financial aid process.
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Direct Subsidized Loans
Emory University offers various financial aid options, including grants and loans, to help students graduate with little to no debt. The university provides non-repayable grants to undergraduate students with demonstrated financial need that is not covered by other grants and scholarships.
For students who require additional financial assistance, loans may be necessary. Emory University offers the Federal Direct Parent PLUS Loan, a low-interest loan program for creditworthy biological, adoptive, or stepparents of enrolled undergraduate students. This loan requires the FAFSA application, but awards are not based on financial need. Repayment typically begins within 60 days of the final disbursement.
Additionally, the university provides information on private educational loans, which may be an option for students who have maximized their federal and state loan options. Emory University's website offers a list of private lenders that students have worked with previously, and the required Federal Private Education Loan Applicant Self-Certification Form.
One of the critical loan options available at Emory University is the Direct Subsidized Loan. This need-based loan is designed to cover the costs of undergraduate education for students enrolled at least half-time. The Direct Subsidized Loan is a favourable option as it does not accrue interest while the borrower is enrolled at least half-time. Interest and payments only begin accruing six months after the borrower graduates or withdraws from the program. To apply for this loan, students must complete the FAFSA application.
It is worth noting that Emory University's percentage of students taking out federal loans is lower than the average for private not-for-profit schools. This could indicate that Emory University tuition is more affordable for students, but it does not necessarily mean that students graduate with lower debt amounts.
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Direct Unsubsidized Loans
Emory University offers Direct Unsubsidized Loans as a non-need-based option for undergraduate, graduate, and professional students. Interest on these loans is charged from the time of disbursement until the loan is paid in full. Borrowers can choose to pay the interest while still in school or allow it to accumulate. However, allowing interest to accumulate will increase the total amount that needs to be repaid.
To apply for a Direct Unsubsidized Loan, students must first complete the Free Application for Federal Student Aid (FAFSA). New borrowers are also required to complete Entrance Counselling and the Master Promissory Note for a subsidized and/or unsubsidized loan before loan funding will be released. Students can sign in to StudentAid.Gov using their FSA ID and password to complete these requirements.
It is important to note that Direct Unsubsidized Loans are not based on financial need. This means that students from a variety of financial backgrounds may be eligible for this type of loan. However, students should carefully consider their loan options and strive to minimize their student debt as much as possible.
Emory University is committed to helping students graduate debt-free through the Emory Advantage Program, which offers non-repayable grants to undergraduate students with demonstrated financial need. Therefore, students are encouraged to explore all financial aid options, including grants, scholarships, and federal loans, before taking on student loan debt.
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Emory Advantage Program
Emory University is committed to making education accessible to all qualified students. The Emory Advantage Program is a grant program that offers eligible students with demonstrated financial need institutional grants in their financial aid packages instead of need-based loans. The program is administered by the Office of Financial Aid and is available to all undergraduate students with financial need who are pursuing their first degree.
To be eligible for the Emory Advantage Program, students must be enrolled full-time and pursuing their first degree at Emory College of Arts and Sciences, Oxford College, Goizueta Business School, or the School of Nursing. Students must also apply for need-based financial aid through the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service (CSS) Profile. Emory University will then evaluate the applications and determine the financial aid packages for eligible students. There is no separate application for the Emory Advantage Program, and the grant will automatically appear on the financial aid package.
The Emory Advantage Program was first introduced in 2007 to serve students from low- and middle-income families. The program was expanded in the fall of 2022, and the university has since eliminated need-based loans as part of undergraduate students' financial aid packages by replacing them with institutional grants and scholarships. This expansion was made possible through endowment funding and has had a significant impact on the student body. In its first year, aid increased by nearly $9 million, and an additional 1,867 students received financial aid. The number of Emory undergraduate students taking out federal loans has also decreased by half during the 2022-23 and 2023-24 school years compared to the previous year.
The Emory Advantage Program is a testament to Emory University's commitment to making education affordable to talented students from all financial backgrounds. By eliminating need-based loans for undergraduates, Emory provides students with the opportunity to graduate with less debt and embark on their journeys after graduation with greater financial freedom. This program not only benefits individual students but also contributes to a more diverse and talented applicant pool, attracting students from a wide range of backgrounds.
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Frequently asked questions
Emory University offers federal loans, work-study, and private loans. Federal loans include Direct Subsidized Loans, Direct Unsubsidized Loans, and Federal Direct Parent PLUS Loans.
You can apply for federal student loans by filling out the Free Application for Federal Student Aid (FAFSA). For private loans, you need to complete and submit the Federal Private Education Loan Applicant Self-Certification Form before the disbursement of funds.
It is essential to consider your total indebtedness, the mean time to obtain your degree, and your estimated starting salary in your field. Minimizing your student debt is ideal, as it reduces your financial burden after graduation.
Yes, Emory University offers grants, scholarships, and work-study programs. Emory is committed to helping students graduate debt-free and provides non-repayable grants to undergraduate students with demonstrated financial need. Additionally, some students may receive sufficient scholarship money to cover tuition and living expenses.
