Tuition & Financial Aid

Financing Your MBA

• GMAT Score Awards

  A GMAT is not required for admission.

  However, students who submit an official test score and show a high competency in the graduate management admission testing are guaranteed a financial award. An official score report must be submitted from GMAC.

  • GMAT Overall Score: 550-599, $1,000 award
  • GMAT Overall Score: 600-649, $3,000 award
  • GMAT Overall Score: 650+, $4,000 award
• Graduate Assistantships

  The MBA Graduate Assistant (GA) program offers a 10–15 hours per week position that serves the faculty and staff of the School of Business.

  A limited number of positions are awarded to students showing academic promise and leadership potential. A stipend of $7,000 over the course of the program is paid hourly for actual hours worked at a rate of $25 per hour.

  GA roles may include:

  • Grading undergraduate student coursework
  • Conducting graduate-level research
  • Administering/proctoring undergraduate exams
  • Carrying out administrative duties in various office environments
• Financial Aid

  Federal Direct Student Loans

  The most common form of financial aid is the Direct Student Loan, made available by completing the Free Application for Federal Student Aid, also known as FAFSA.

  The FAFSA application is available each year on October 1.

  Federal Grad PLUS Loan

  The Federal Grad PLUS Loan is based on creditworthiness.

  Borrowers may borrow up to the cost of education less any other financial aid awarded. Under current law, the fixed interest rate charged on Graduate PLUS 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 upfront and thus lower the actual amount of each disbursement. Federal regulations require loan proceeds to be disbursed in two equal amounts. Proceeds are applied directly to your tuition account.

  First-time borrowers are required to complete student loan entrance counseling and a Master Promissory Note, which are available at studentaid.gov.

  More information can be found on the Office of Financial Aid and Veterans Affairs website.

  Applying for a Grad PLUS Loan

  1. Refer to the Graduate PLUS loan amount offered in your MyPortal account for the maximum PLUS loan amount you may apply for.
  2. Graduate PLUS borrower logs into studentaid.gov.
  3. Select I'm in School.
  4. Select Apply for PLUS Loan for Graduate School.
  5. Click Start.
  6. Follow prompts.
     1. Page 1: Enter loan information.
     2. Page 2: Enter borrower information.
     3. Page 3: Review data entered. Next, verify the information that has been entered and correct any information that was entered incorrectly.
     4. Page 4: Credit check and submit. Federal Direct PLUS awards are based on credit. To qualify for the loan, the PLUS borrower must first pass a credit check. The credit check will end in approval or denial.
  7. Begin the Master Promissory Note process. Read the information provided upon completion of a successful credit check. Click your student name to begin the promissory note.
  8. Complete the MPN. Enter the required information then read and agree to the terms and conditions of the loan.
  9. Review and sign the MPN. Review the information provided, complete the signature boxes and click Sign.

  Eligibility

  To be eligible for a Grad PLUS Loan, students must:

  • Be a U.S. citizen or eligible non-citizen
  • Be enrolled in a graduate or professional program
  • File a Free Application for Federal Aid (FAFSA) for the intended year
  • Not be in default on any type of student loan
  • Not owe a repayment on a student grant
  • Pass a credit check
• Veterans Benefits

  Learn more about what benefits you may be eligible on our Military and Veteran Services website.