Funding for graduate studies is available for most students. Following are the most common sources of funding for U.S. citizens and qualified noncitizens (U.S. permanent resident with a Permanent Resident Card).
The information below lists the types of programs, basic information and how to apply.
Federal William D. Ford Direct Loan - Unsubsidized
These are low interest loans (Up to $20,500 per academic year). First-time Direct loan borrowers must complete a loan counseling session. Repayment begins six (6) months after a student is no longer enrolled for at least half-time (6 credits). The interest rate of loans disbursed on or after 7/1/20 and before 7/1/1 is 4.30%.
Federal William D. Ford Direct Grad PLUS loan
A graduate student may apply for this loan after the maximum Unsubsidized loans have been received. There must be remaining unmet educational expenses (based on the CUNY “Cost of Attendance”) to qualify. The interest rate of loans disbursed on or after 7/1/20 and before 7/1/21 is 5.30%.
Direct Grad PLUS Loan application can be printed under forms or at the financial aid office.
This is a need-based program providing part-time jobs on and off campus. You are paid for the hours worked up to the maximum award.
The Federal Teacher Education Assistance for College and Higher Education (TEACH Grant)
A total of $8,000 is allowed for Grad. Study
This is a federal program that provides grants of up to $4,000 per year to graduate students. Recipients must agree to fulfill a service obligation as a full-time teacher in a high-need field, at a public or private elementary or secondary school that serves low-income families.
Submit a TEACH Grant Application and Entrance Counseling to the School of Education, NAC 3/223A.
Scholarship and Assistantships
Some graduate programs offer scholarships and assistantships. Contact your program director or advisor for more information. Free scholarship searches are available at: www.fastweb.com and www.brokescholar.com
A completed FAFSA is needed for most forms of scholarship aid.
Qualifications are determined by the U.S. Department of Veteran’s Affairs
Go to Wingate Hall, room 107 or call 212-650-5374. https://www.ccny.cuny.edu/veterans
Aid to Native American Indians
This is a grant for students who are at least ¼ American Indian, Eskimo, or Aleut, and/or certified as a member in a tribe served by the BIA.
To apply, contact the U.S. Bureau of Indian Affairs Office of Education at: www.bie.edu/ParentsStudents/Grants/ or call 1(202) 208-6123.
Alternative Loans (Private Education Loans) are offered through private lenders. These loans are not guaranteed by the federal government and may carry high interest rates and origination fees. CUNY does not recommend any specific lender/programs. If you are paying your tuition with an alternative loan, you must inform the Bursar’s Office and provide documentation prior to your bill due date to avoid class cancellation.
Contact the lender of your choice for details about their program and application process. Before receiving a private education loan you need to print and fill out the Private Education Loan Applicant Self-Certification form and submit it to the Financial Aid Office at your school.