Graduate School Loan Solutions
Graduate and continuing education students have financial needs that are different than those of other students. While they continue their educations, they also continue to take on more student debt. And many times these graduate school loans are added to the undergraduate debt that they already carry. It's enough to intimidate anyone. But you need not worry. Because StudentFinanceDomain.com can help make the process easier.
Graduate students have many loan options available to them, both federal
grad school loans and private
or alternative loans. They also are eligible for business school loans,
medical education loans, law school loans, nursing loans and career training loans. All of these loan options are very similar to those available for undergraduates,
but loan limits are much higher. This enables graduate and continuing education
students to follow their professional dreams, without worry about coming up
short for tuition and other school related costs and living expenses.
- Borrow up to $70,000 for Business, Dental, Law, and Medical programs; Others up to $50,000.
- Funds sent directly to you in about a week.
- Defer all payments until after you graduate.
- Up to 0.25% interest rate reduction for ACH or on-time payments.
Like undergraduates, graduate students may be eligible for certain types of federal graduate school loans. This includes the Perkins Loan
and both the subsidized Stafford Loan
and unsubsidized Stafford Loan
. The basic rules and qualifications of the undergraduate versions of these loans will apply, but the maximum amounts students can borrow are slightly higher. For subsidized Perkins Loans
during the 2012-2013 school year the loan limits for graduate students are $6,000 per year and $40,000 overall. It's important to note that this $40,000 figure must include any undergraduate Perkins Loan totals as well.
For the 2012-2013 school year graduate Stafford Loan limits are $20,500 per year, with a total limit of $138,500 including all undergraduate Stafford Loans. Of that figure no more than $65,500 may come from subsidized Stafford Loans. Luckily graduate students should be able to defer their remaining federal undergraduate student loans along with any new federal graduate school loans while they continue their education.
Private lenders like banks, credit unions and online lenders have many continuing education and graduate school loan options. Some lenders have loan options that will cover the needs of both graduate and continuing education students. Sometimes loan options are specific to one or the other. The great thing about many of these loan products is that they allow you to pay for more than just your tuition. You can also cover your living expenses and educational expenses such as computer equipment and other supplies.
Afford the college experience you deserve. How to finance your education with private loans.
Staffords, Perkins, PLUSes, private vs. alternative, select the right student loan(s) for your situation
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Like other loan products, private student loans for graduate students come in a variety of shapes and sizes. And of course like any other private student loan or alternative student loan, good credit will help you secure the best interest rates and loan terms. If you don't have great credit you should consider getting a cosigner who does. Because a cosigner's credit rating will be extended to you, enabling you to get a better deal on your loan than you could on your own. Additionally sometimes lenders will extend better interest rates to graduate students than they do to other students.
Furthermore most private grad school loans also allow you to defer your payments until you finish school. This is an important feature, especially if you still have undergraduate debt to pay off. For more information about selecting the right private student loan product and tips on getting the best combination of interest rates and fees, see our private student loan or alternative student loan section.
Congratulations on your decision to further your education. Don't let the prospect of paying for it get you down. Because with the proper student loan for graduate students or continuing education loan, you'll continue to hit the books without a worry. And if you're nearing the end of your graduate student career, you should check out your graduate consolidation loan options. They could make the repayment process much easier and cheaper for you to handle.
Business school loans are great ways to help you further your education. You can get both federal and private MBA loans for any type of business school such as marketing and business management. Whatever type of business school you choose, your business degree will lead you to a great earning potential.
If a future in medicine is something that you'd like to do, then obtaining a medical school loan will help you cover the expensive cost of med school tuition. Medical school is a challenging and rewarding experience that will prepare you for a future in which you can help others who need it the most.
If you're ready for a profession that helps others and also offers great benefits, then a nursing school loan will allow you to achieve your goals. You can attend medical school with a private or federal nursing school loan.
If your true passion lies in the world of law and order, then a law school loan is the perfect way to fulfill your courtroom dreams. A law school loan will help you get the tools and experience you need to tackle any case that you may be up against.
A career training loan is a great way to further your expertise in areas like the automotive industry, media arts, real estate or business. Many of them offer low interest rates and are easy to pay back once you graduate.