Financial Assistance for Admitted and Current Graduate Students

How to Apply for Financial Assistance (Master's Students Only)

• Submit the Free Application for Federal Student Aid (FAFSA) for the appropriate academic year. The 2023-2024 FAFSA will be used to award financial aid for the summer 2023, fall 2023, and spring 2024 semesters. Graduate students are considered independent and will need to provide 2021 federal tax information; parental information is not required. Please include Washington University's School Code (002520). Once submitted, the University should receive your processed FAFSA in about 3-4 business days.
• Complete the FAFSA supplement form.

• If you receive financial assistance in the form of an institutional scholarship, employee tuition assistance, a private loan, or a scholarship from an outside agency, you must report the amount to Johanna Sengheiser (jsengheiser@wustl.edu) because it could impact the amount of your loan eligibility.

• Once awarded, you will receive an e-mail in your WashU account that will provide instructions on how to finalize the award.

Loans Available to Graduate Students

• Federal Direct Unsubsidized Loan – The annual maximum a student can borrow is $20,500. Effective for loans with a first disbursement on or after July 1, 2017, this loan carries a fixed interest rate of 6% for the 2017-2018 academic year. The interest rate for the upcoming academic year is determined on July 1 each year. Interest accrues from the date of disbursement and students have the choice to pay the interest while in school or defer it. If the interest is deferred, it will be capitalized to the loan principal. For loans disbursed on or after October 1, 2017, each disbursement is subject to a 1.066% loan origination fee. Repayment of the principal begins six months after graduation, leaving school or falling below half-time enrollment. If this is the first time you have received a Federal Direct Unsubsidized Loan at Washington University, you will need to complete Entrance Counseling. This is a short review of your rights and responsibilities as a student loan borrower. You are required to read the information and then answer questions. You will also need to complete a Master Promissory Note (MPN) for the loan. The MPN is a legal document that you sign, promising to repay your student loans. Both the Entrance Counseling and MPN can be completed online at StudentLoans.gov.

• Federal Direct Graduate PLUS Loan — This is a credit based loan offered by the Department of Education. The student must apply online at StudentLoans.gov and receive approval before the loan can be awarded. If the student's credit is denied, it is possible to secure the loan with a credit worthy endorser. The annual loan limit is the student's cost of attendance minus any other financial assistance received. Effective for loans with a first disbursement on or after July 1, 2017, this loan carries a fixed interest rate of 7%for the 2017-2018 academic year. The interest rate for the upcoming academic year is determined on July 1 each year. Like the Federal Direct Unsubsidized Loan, interest can be paid while in school or deferred, and repayment begins six months after graduation, leaving school or falling below half-time enrollment. For loans disbursed on or after October 1, 2017, each disbursement is subject to a 4.264% loan origination fee. If you are a first time borrower of a Federal Direct Graduate PLUS Loan at Washington University, you will need to complete Entrance Counseling and a Master Promissory Note (MPN) at StudentLoans.gov. Please note that the MPN for the Graduate PLUS Loan is separate from the Unsubsidized Loan.

• Private Loans – Some students choose to utilize credit based student loans through private lenders, either instead of federal loans, or in addition to them. Due to the regulations on federal loans, students might also borrow through private lenders because some offer loans for certificate programs, in support of less than half-time enrollment, or to international student applicants. If you are interested in applying for a private loan, you will work directly with the lender of your choice. ELMSelect is a lender comparison tool, which can be helpful as you begin your search. Please note that this is not an exhaustive list.

Yellow Ribbon Program

• The Basic Post-9/11 GI Bill benefit will pay up to $22,805.34 in net tuition and fees for the 2017-2018 academic year. Your actual tuition and fees may exceed this amount. Institutions that voluntarily enter into a Yellow Ribbon Agreement with VA choose the amount they will contribute to net tuition and fees above the Basic benefit. VA will match that amount and issue payment directly to the institution. Washington University entered into a Yellow Ribbon Agreement with VA and currently, the McKelvey School of Engineering covers full tuition and fees above the Basic benefit and VA will match that amount.

• Please remember that you must be eligible for the Post-9/11 GI Bill at the 100% rate to be considered for the Yellow Ribbon Program.

• Engineering's participation level is reviewed each academic year, so eligible students are not guaranteed the same award from one academic year to the next.

• For more information, contact the Office of the University Registrar.

Payment Information

• Although bills are issued from Student Accounting at the end of each month, the McKelvey School of Engineering does not charge late fees to its graduate students. However, payment for the current semester must be received in full before registering for an upcoming semester. If a balance remains at the time of registration, then Student Accounting will put a hold on the account to prevent registration.
• >> Make a graduate tuition payment online using a credit card. This payment option is only available to Engineering graduate students and each payment is subject to a 2.75% transaction fee.
• Please see Student Accounting for other payment options.