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Financial Aid for Graduate Students

Federal Direct Loans

If you wish to be considered for a federal loan, you must first submit a Free Application for Federal Student Aid (FAFSA) to the federal processor and request that a copy of the analysis is forwarded to Ithaca College. The steps in the application process are available here. Our school code for the FAFSA is 002739.

Once you receive our financial aid package you will need to accept the offer of a Direct Loan using your HomerConnect access.

All Federal Direct Loans will continue to be disbursed in two equal amounts – one for the fall semester and one for the spring semester. Financial planning for payment of your fall and spring semester bills should be based on the expectation that one-half of the total approved loan can be used for each semester. Federal Direct Loan funds are sent electronically to Ithaca College.

You will use your HomerConnect access to view your account, including financial aid information and grades. It is your responsibility to see if your funds have been applied to your account.You must be registered for classes before a refund can be issued to you.

Because Federal Direct Loans require time for processing, and because Ithaca College graduate assistantships are paid on regular payroll dates and not in advance, plan ahead to ensure that you have enough money to live on for up to two or three weeks and to pay your tuition when you arrive on campus.

Federal Graduate Direct Plus Loans

As with other federal loans, a student must have a completed FAFSA on file with the Office of Student Financial Services. You must also be a U.S. citizen or eligible non-citizen, as well as be matriculated and attending at least half-time. You will need to complete a Direct Plus Loan Request on https://studentloans.gov. For more information, visit the Student Financial Services website.

Alternative Loans

Several major banks offer educational loan programs at conventional or reduced interest rates. Please consult with your bank to see if such a plan is available. You should always consider the Federal Graduate PLUS Loan program. Additional information on alternative loans and the Graduate PLUS Loan can be found on the Student Financial Services website.

Deductions

Deductions may consist of one or more of the following:

  • Graduate Scholarship (please consult your award notification). If you have a graduate assistantship, you must provide proof of citizenship for your home country on your first day of employment. There are no exceptions to this law, and you cannot begin work until your citizenship status is confirmed.
  • Federal Direct Loans and Federal Direct Graduate PLUS loans must be approved by the Office of Student Financial Services in advance.
  • Ithaca College or Employer Tuition Remission: Please obtain the necessary approval in advance.

Balance Due

If, after all of your deductions, you have a balance due, payment can be made by any of the following methods:

  • Checking/savings account (ACH) transfer payments: There is no service charge if your electronic payment is from a checking or savings account. Credit card payments are not accepted.
  • Cash or check: If paying by check, make it payable to Ithaca College, and write your ID number and semester on the face of the check.
  • Promissory note: Forms are available from the Office of Student Financial Services. This method enables you to pay one-quarter of your balance at registration and the remaining amount in three equal installments over the following three months.
  • Payroll deduction: It may be possible to use payroll deduction from your graduate assistantship salary. Please contact the Payroll Office to determine if you are eligible. 

Refunds

If you are due a refund, you have several options:

  • Leave the credit in your account or request a refund check: Refunds are processed online through the Office of Student Financial Services.  You may follow the instructions to Request a Refund within the How-To section.
  • If a credit balance is anticipated (loan approval pending and/or graduate assistantship), you may request an advance for up to $2,000, depending on the amount available. The earliest you may submit a request for an aid advance is ten (10) days prior to the first day of class. All required documents for any aid you might be receiving must be submitted and reviewed by Student Financial Services prior to approving an advance. You must be registered for classes before your request for an advance can be approved.

Because Federal Direct Loans require time for processing, and because Ithaca College graduate assistantships are paid on regular payroll dates and not in advance, plan ahead to ensure that you have enough money to live on for up to two or three weeks and to pay your tuition when you arrive on campus.