Federal aid for graduate students is limited to two types of federal loan programs. The Federal Direct Unsubsidized Stafford Loan and the Federal Direct Graduate PLUS Loan. Follow the how to apply steps below to determine your aid eligibility:
How to Apply for a Federal Direct Unsubsidized Stafford Loan:
1) File a Free Application for Federal Student Aid (FAFSA). Wake Forest will receive an electronic version of your FAFSA in 3-5 business days and asses your eligibility for federal aid. An electronic award notification will be sent to your WFU email account with detailed instructions on how to accept your aid offered through the Wake Information Network.
2) Complete Federal Entrance Counseling. Students beginning a new graduate program and receiving federal student aid must complete federal loan entrance counseling before a federal student loan can disburse
3) Sign Master Promissory Note. First time Stafford loan borrowers must complete a master promissory note. If you received a Stafford loan as an undergraduate student, a promissory note is valid for 10 years. To ensure you have a valid promissory note, please visit StudentLoans.gov
4) Ensure all Requirements are met. Students can view unsatisfied requirements by accessing their Financial Aid Status under the Virtual Campus section of WIN.
5) Requesting a Refund. If a student accepts a loan in excess of tuition and fees to assist with living expenses, the student will be eligible for a refund. Any questions regarding the processing of a refund should be addressed to Student Financial Services
How to Apply for a Federal Direct Graduate PLUS Loan:
1) You must accept the full $20,500 in Unsubsidized Stafford Loan eligibility.
2) Complete PLUS Request Process at StudentLoans.gov. Unlike the Federal Direct Unsubsidized Stafford loan, the Federal Graduate PLUS loan requires a credit check. If your credit is not approved, you will have the option to appeal the credit decision or have an endorser co-sign the loan with you. This process is also completed through StudentLoans.gov
3) WFU will receive the credit approval from StudentLoans.gov electronically. An award notification will be emailed to the student’s university email account once the loan has been listed on the student’s financial aid record.
The Federal Student Aid website has a helpful repayment tool to calculate what your loan repayment will be.
Please visit our Frequently Asked Questions Page for more information.