Loyola Marymount University Bulletin 2011-2012 > Financial Aid > Graduate Financial Aid > Programs of Assistance for Graduate Students

Programs of Assistance for Graduate Students

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Graduate Financial Aid

LMU Graduate Studies Office

Please visit us on the web at http://www.lmu.edu/gradfinancialaid to explore the various scholarship, employment and loan opportunities available for graduate students at LMU through the Graduate Studies Office.

Scholarships

Departmental Graduate Scholarships

Each graduate program at LMU awards its own departmental scholarships based on financial need and merit. Applications are available online at http://financialaid.lmu.edu.

Some departments may require that students complete the Free Application for Federal Student Aid (FAFSA) and LMU Application, in addition to the department’s Graduate Scholarship Application, in order to be considered. Information on how to complete the FAFSA and the LMU Application can be found online at http://financialaid.lmu.edu.

Inquiries about the application and/or selection process should be directed to a program’s Graduate Director.

Catholic Teacher/Ministry Fund

Students who work full-time as Catholic school teachers, administrators, or parish administrators are eligible to apply. Students must submit their department’s Graduate Scholarship Application with proof of employment attached (e.g., last pay stub, letter from your supervisor on official letterhead) in order to be considered. Additional instructions can be found online at http://financialaid.lmu.edu.

Contact the Director of your program if you have questions about the application and/or selection process.

Endowed and Donated Scholarships

Some programs have additional scholarships available. Consult the Director of your program for information about additional scholarships and the application process.

Developing Countries Scholarships

Catholic clergy or members of Catholic religious communities from developing countries may apply for full tuition assistance in order to obtain one (1) master’s or doctoral degree in any field of study at LMU. Interested applicants should submit a copy of their R-1 visa to the Graduate Studies Office, along with a one (1) page statement of intent. Please contact the Graduate Studies Office at 310.338.2721 or graduatescholarship@lmu.edu for more information on how to apply for this scholarship.

Religious Scholarships

Catholic Clergy or members of Catholic religious communities are eligible to receive a scholarship equal to 25% of their total tuition costs. Please contact the Graduate Studies Office at 310.338.2721 or graduatescholarship@lmu.edu for more information on how to apply for a Religious Scholarship.

Student Employment

Program assistantships are available through individual programs on a competitive basis. Consult the Director of your program for information about available assistantships.

There are also jobs on campus for which graduate students may apply. Visit us on the web at http://financialaid.lmu.edu for application information, or contact the Graduate Studies Office at 310.338.2721 directly for more information.

LMU Financial Aid Office

The Financial Aid Office at LMU administers federal, state, and private financial aid programs. Additional information can be found online at http://financialaid.lmu.edu.

State Grants

Cal Grant TCP

Students who received a Cal Grant A or B as an undergraduate and begin an Elementary or Secondary teaching program within 15 months of their last Cal Grant payment, may apply to renew their Cal Grant for one (1) additional year. School of Education students participating in a specialized cohort program who receive a Cal Grant A or B extension will be awarded Cal Grant first, not to exceed their specialized cohort’s total scholarship commitment. Complete a G-44 renewal form available at http://www.calgrants.org.

Federal Student Employment

Federal Work-Study

LMU employs students each year to work on campus in a variety of jobs. To receive Federal Work-Study, you must complete the FAFSA and meet financial need and eligibility requirements. Funding to hire students is limited, and eligible students are awarded upon request as funding permits.

Federal Direct Loan Programs

Federal Direct Stafford Loan (Subsidized or Unsubsidized)

All students who complete the FAFSA and meet federal eligibility requirements will be offered a Federal Direct Stafford loan. There are two types of Federal Direct Stafford Loans—the Subsidized Stafford Loan and Unsubsidized Stafford Loan.

The Subsidized Stafford Loan is awarded on the basis of financial need as determined by the FAFSA, and the federal government will pay the interest on Subsidized Loan while the student is enrolled at least half-time.

The Unsubsidized Stafford Loan is awarded to those with no demonstrated need. The student is responsible for interest payments, although all payments can be deferred until after graduation or when the student ceases to be enrolled at least half-time.

Reminder: A graduate student must be enrolled at least half-time, as determined by his/her program level, in order to receive federal financial aid.

Students may not borrow in excess of the annual Federal Direct Stafford Loan borrowing limits as determined by the federal government.

For detailed information regarding current interest rates, repayment terms, or the annual Federal Direct Stafford Loan borrowing limit, please visit us the Financial Aid Office online at http://financialaid.lmu.edu.

Federal Direct Graduate and Professional Student PLUS Loan

The Federal Direct Grad PLUS Loan is designed to help bridge the gap between the financial aid a student is awarded and the cost of attendance. In order to apply for the Grad PLUS Loan, borrowers must complete the FAFSA and be creditworthy. Students may borrow up to the LMU standard cost of attendance, minus all other financial aid you received.

For more details on all federal loan programs visit the Federal Student Aid Web site at http://www.studentaid.ed.gov.

Private (Alternative) Loan Programs

Private loans are educational loans available from the private sector. The interest rate on these loans varies by lender, and eligibility is based on creditworthiness of the student or student’s co-borrower. Eligible students are encouraged to apply for all federal and institutional financial aid programs including the Federal Direct Graduate PLUS Loan, before considering a private educational loan. The maximum a student may borrow in a private loan is LMU’s standard cost of attendance, minus all other financial aid you have received.

All students interested in borrowing a private loan must meet with a financial aid counselor to complete a Private Education Loan Applicant Self-Certification Form.

For more information regarding the loans available to graduate students at LMU, please visit the Financial Aid Office online at http://financialaid.lmu.edu.

Federal and State Teacher Loan Forgiveness Programs

Assumption Program Loans for Education (APLE)

APLE is a state-sponsored, loan forgiveness program that assists qualified teachers in repayment of their undergraduate and graduate Federal Direct Stafford Loan(s), up to $19,000, over the course of four years. For more information, visit http://financialaid.lmu.edu.

Federal Perkins Loan Cancellation

Borrowers may qualify for cancellation (discharge) of up to 100% of a Federal Perkins Loan if they have served full time in a public or nonprofit elementary or secondary school system as a

- teacher in a school serving students from low-income families; or

- special-education teacher, including teachers of infants, toddlers, children, or youth with disabilities; or

- teacher in the fields of mathematics, science, foreign languages, or bilingual education, or in any other field of expertise determined by a state education agency to have a shortage of qualified teachers in that state.

For more information or to obtain an application, contact the office that administers the Federal Perkins Loan program at the school that holds your loan.

Teacher Loan Forgiveness (TLF)

TLF is a federal program to assist teachers in repayment of Federal Stafford and Direct Loans. Eligible loan borrowers must have been employed as teachers for five years in a qualified teaching service area. For more information, visit http://www.edfund.org.

AmeriCorps Education Award

Students who participate in the AmeriCorps service program must request their Americorps Education Award payment online at http://my.americorps.gov. The Education Award will be electronically transferred to their student account at LMU, 7-10 business days from the date payment is requested.