Aid For Graduate Students
Lincoln University Graduate students, who qualify, are offered Federal loans to assist in funding their education. To obtain these loans students must file the Free Application for Federal Student Aid (FAFSA) and meet these guidelines to be eligible:
- You must be admitted to or enrolled in a degree program for at least 6 credits (half-time).
- You must be maintaining satisfactory academic progress towards a degree.
- You must be a United States citizen or an eligible non-citizen. Eligible non- citizens may be required to present their Immigration and Naturalization Service (INS) I-551 or I-94 forms in person to the Office of Financial Aid.
- You must not be in default on a Federal student loan or owe a refund on a Federal grant at any institution.
- You must not have borrowed in excess of the annual or aggregate Federal loan limits.
- Males must have registered with Selective Service between the ages of 18-26.
- U.S. citizens must have a Social Security card that carries a current and accurate legal name and Social Security Number. Applicants who have changed their legal name due to marriage, etc. must acquire a new card from the Social Security Administration Office
- You must provide all documentation requested by the Office of Financial Aid. Your Graduate Official Award Letter cannot be offered until necessary documents have been submitted.
FAFSA will allow us to determine eligibility for borrowing Federal Direct Loans. Each student who is qualified to receive Federal Direct Loans will be required to complete the Master Promissory Note (MPN) , the Loan Entrance Counseling, and Annual Student Loan Acknowledgement online.
Each student should obtain a FSA ID and Username that will allow you to complete a renewal FAFSA, make corrections on the FAFSA, sign your FAFSA and Master Promissory Note (MPN) electronically. Be sure to keep your PIN number in a safe place. Each qualifying student will be awarded up to the Graduate Cost of Attendance Budget as long as your cost of attendance has not met the aggregate loan limit of $20,500. The loans are awarded to cover fall, spring and summer semesters. In situations where the Federal Direct loans cannot cover the full cost of education, students can apply for a Graduate PLUS Loan and or an Alternative Loan to help cover the remaining cost of education and/or expenses allotted (transportation, books, supplies and/or personal expenditures). Alternative loans are private loans that do not follow the Federal Direct loan guidelines. Pre-approval process and an application will have to be completed before awarding the Graduate PLUS and/or alternative loans and can be approved or denied based on the student's credit history.
For questions or concerns regarding student account billing information, book vouchers and/or refunds, please contact the Office of the Bursar at 1-855-287-4003.
Federal Unsubsidized Direct Loan - The loan is limited to independent students and/or dependent students whose parents have been denied eligibility for the Federal Plus Loan. The Federal Unsubsidized Loan is not based on need and, unlike the Federal Subsidized Loan the government does not pay the interest for you. You will be charged interest for this loan from the time the loan is disbursed until the loan is paid in full. You may borrow the maximum for your grade level.