Graduate Student Financial Aid Guide
Academic Year 2026-2027
This guide explains how graduate and professional students can pay for their education during the 2026–2027 academic year. It covers the financial aid process, important deadlines, available federal aid options, and major federal loan changes taking effect July 1, 2026. Our goal is to help you make informed, confident decisions about financing your graduate education.
Financial Aid: Step‐by‐Step
Step 1: Complete the FAFSA
Each year you wish to receive federal financial aid, you must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is not a loan application. It is used to determine your eligibility for federal student loans and other aid. The 2026–2027 aid year covers Summer 2026 through Spring 2027.
Step 2: Apply for Loans
After your FAFSA is complete, you may apply for federal loans based on the limits and rules below.
Federal Loan Options for Graduate Students
Federal Direct Unsubsidized Loan
Available to all eligible graduate students.
- Annual limit: $20,500
- Lifetime limit: $100,000
Interest accrues while you are in school.
Overall Federal Loan Caps
Federal limits apply across all loans combined:
- Graduate students: $100,000 total
Once these limits are reached, no additional federal loans are available.
Graduate PLUS Loans – IMPORTANT CHANGES
Graduate PLUS Loans will no longer be available to new borrowers starting July 1, 2026.
Who can still use Graduate PLUS?
You may continue to borrow Graduate PLUS loans only if you are grandfathered. To be grandfathered, you must:
- Have received at least one Graduate PLUS Loan disbursement before July 1, 2026, AND
- Remain in the same program, degree level, and institution.
How long does grandfathering last?
Eligible students may continue using Graduate PLUS loans for: - Up to three additional academic years (2026–27, 2027–28, 2028–29), or - Until program completion, whichever comes first. Grandfathering ends June 30, 2029.
When does eligibility end?
You will lose Graduate PLUS eligibility if you:
- Begin a new program after July 1, 2026
- Change degree level (e.g., master’s to doctoral)
- Transfer to a different institution
Other Financial Aid Options
Federal Work-Study
Students with demonstrated financial need may be eligible for part-time on-campus employment.
Scholarships & Assistantships
Availability varies by program. Contact your graduate program coordinator for details.
Private Loans
Private student loans may be used to cover remaining educational expenses after federal aid options are exhausted.
Where to find and compare private loans:
- Specialized Private Lenders – Lenders that focus specifically on graduate and professional education loans and may offer program-specific products.
- Banks & Credit Unions – Traditional financial institutions that may offer private student loans, sometimes with relationship or member benefits.
Loan comparison sites – Online tools that allow you to compare interest rates, repayment terms, and borrower benefits across multiple lenders.
Enrollment Requirements
To receive federal financial aid, you must be enrolled at least half‐time:
- Semester programs: 4.5 credits
- Quarter programs: 3 credits
Cost of Attendance (COA)
The Cost of Attendance (COA) is the maximum amount of financial aid you may receive per term. It is not your bill.
COA may include:
- Tuition and fees
- Housing and utilities
- Food
- Books and supplies
- Transportation
- Personal expenses - Average loan fees
Aid can be adjusted if you only need funding for certain expenses (e.g., tuition only).
Example COA (Per Semester)
- Applied Data Science, MS (9 credits)
- Tuition: $9,414
- Books: $360
- Fees: $464
- Housing: $5,262
- Food: $4,120
- Loan fees: $97
- Personal: $780
- Transportation: $1,285
Total COA: $21,782
Your COA changes if you add or drop credits.
Common Questions
Disbursements typically occur 7–10 business days after the term begins.
Contact Student Achievement Services (SAS). You may be eligible for a short‐term advance (up to $1,000).
Check your MyCU To‐Do list for:
- Entrance Counseling
- Master Promissory Note (MPN).
If nothing is missing, contact Financial Aid.
You may request additional funding if you have not reached your COA or federal limits.
You may return unwanted funds within 14 days of disbursement with no interest or penalty.
Important Reminders
Federal loans may only be used for educational expenses. Future students starting programs in Fall 2026 or later should plan carefully due to reduced federal borrowing options.
Who to Contact
Financial Aid Questions
Geoffrey Pierce
Graduate Financial Aid Advisor
Technology Advancement Center (TAC) Room 206A
gpierce@clarkson.edu | finaidletters@clarkson.edu
(315) 268‐2316
Billing & Disbursement Questions
Student Achievement Services (SAS)
Technology Advancement Center (TAC)
sasgrad@clarkson.edu
(315) 268‐6451
Scholarships & Assistantships
Contact your graduate program coordinator.