Graduate Financial Aid
An Elms College financial aid award may be comprised of funds from federal sources. We encourage families to apply for all types of aid including several scholarship opportunities offered by the admission office.
Need-based financial aid from federal, state, and institutional sources is available in the following forms:
Federal Subsidized Direct Loans
The Federal Subsidized Stafford Loan is available to both undergraduate and graduate degree-seeking students and, like all loans, requires repayment. You must enroll for a minimum of six (6) credit hours to be eligible. Eligibility is determined by the EFC. During periods of enrollment or deferment, the federal government pays the interest on Subsidized Stafford loans. The interest rate is currently fixed at 6.0% for subsidized, 6.8% for unsubsidized. Interest paid may be tax deductible.
Federal Unsubsidized Direct Loans
This program is identical to the Federal Subsidized Loan except that the government does not pay the interest during periods of enrollment or deferment, and is not based on need. The Student Financial Aid Services Office strongly recommends students pay the interest on Unsubsidized Stafford Loans while in school or in deferment.
Alternative Financing Options
Elms College provides information and guidance about the most competitive payment and financing plans available. Several low interest alternative loan programs are available through private lending institutions to help pay the difference between financial aid awarded and the total balance due to the college. We encourage students to investigate these sources, or call student financial aid services for application information.
Assistantships
A limited number of graduate assistantships are available each semester in various departments and offices on the Elms College campus. Information is available from program directors and advisors.
Tuition Vouchers
In appreciation for the learning experiences provided to our full-time practicum students, Elms College issues one three-credit voucher per student to the full-time practicum supervisor.