Financing Your Elon Graduate Education
Elon’s first financial aid policy is to provide an excellent graduate education at a reasonable cost. Many of our graduate students juggle school with professional and personal commitments, and Elon’s Office of Financial Aid recognizes a graduate education is a serious investment. Our goal is to help you understand all of the financial resources that can make a graduate education affordable for you.
Please see individual program pages for additional information about financing the program of your interest: MBA, M.S. in Management, M.S. in Accounting, M.A. Interactive Media, M.Ed., M.A. in Higher Education, PA, DPT and School of Law.
Federal Stafford Student Loan Program
The primary source of financial assistance for physician assistant students attending Elon University will be the Federal Stafford Student Loan Program. Graduate students may borrow up to $20,500 through the Unsubsidized Stafford Loan program. The student will be charged interest from the time the loan is disbursed until it is paid in full. If the interest is capitalized (allowed to accumulate) it will be added to the principal amount of the loan and will increase the amount the borrower will have to repay. If the choice is made to pay the interest as it accumulates, the total interest charges paid during repayment will be considerably less. The maximum unsubsidized loan for graduate and professional study is $20,500 per year.
The total amount a graduate or professional student may borrow from all Stafford Loans combined is $138,500 (no more than $65,000 of this amount may be in subsidized loans). The graduate borrowing limit includes any Stafford Loans received for undergraduate study.
Under current law, the fixed interest rate charged on Federal Stafford Loans is set each year by the Department of Education at the beginning of July. There are also small origination and guarantee fees associated with each loan. These fees are deducted up front and thus lower the actual amount of each disbursement. Repayment of Stafford Loans begins six months after graduation or when the student is no longer enrolled at least half-time.
For more information, visit the Office of Financial Aid website. First-time borrowers are required to complete student loan entrance counseling and a Master Promissory Note, which are available at studentloans.gov.
Private Alternative Loan Information and Process
These are long-term loans not based on need. Eligibility is determined based on credit worthiness and ability to pay. Lenders set their own repayment terms, interest rates, guarantee fees, etc. It is wise to compare several lenders to determine which ones are best suited to you. You may borrow up to the cost of education less any other financial aid awarded.
Some of the more commonly used loan programs are listed on the Office of Financial Aid website. Obtain applications and get more specific information by directly contacting lenders.
Click the links below to learn more about specific program scholarships. If you have questions or would like more information, please email email@example.com or call Graduate Admissions at (336) 278-7600.
Additionally, candidates for the DPT and PA programs who are North Carolina residents may wish to contact: Forgivable Education Loans for Service.