Financial Aid FAQ for Doctor of Psychology (PSyD) Students

Q: How do I apply for financial aid?
A: If you are interested in applying for the unsubsidized loan, please complete your 2012-2013 FAFSA (using your 2011 tax returns) by visiting the Free Application for Federal Student Aid (FAFSA) site. Additionally, please complete direct loan entrance counseling and a master promissory note through StudentLoans.gov. Steps to assist you with the financial aid process can be found by visiting Medaille's financial aid page for graduate students.

Q: How much can I borrow through FAFSA?
A: The maximum a graduate or doctoral student can borrow through the completion of the FAFSA is $20,500 per academic year, until reaching the aggregate limit (for all current and past student loans) of $138,500. The student must be enrolled for at least 6 credit hours in their matriculated degree program, per semester, to qualify for the Unsubsidized Loan offered through the Department of Education.

Q: What is the current interest rate for the Unsubsidized Loan?
A: The interest rate for the 2012-2013 aid year is 6.8%. For further information on the Direct Stafford Loans, please visit Student Aid on the Web.

Q: Are there any institutional scholarships available?
A: There is an institutional scholarship offered to the doctoral students that is based on merit, academic performance and financial need. In order to qualify and/or be considered, you must complete your FAFSA application. The Scholarship Committee will meet and review eligible doctoral student files. Recipients will be notified of their award through a scholarship notification letter.

Q: Where can I search for outside scholarships?
A: There are several scholarship websites that students can review and apply through. Some common scholarship websites are: FastWeb, Scholarships.com, and CollegeScholarships.org.

Q: I completed my FAFSA, how do I accept my awards?
A: Once you are packaged, you will receive an award letter email that will be sent to your Medaille e-mail account. The award letter will show the offered awards and will provide step by step assistance in guiding you to MedailleOne to accept or decline the offered awards. To get access to MedailleOne, you must have been admitted and have paid your deposit through the Admissions Department.

Q: What do the tuition and fees cost?
A: The tuition rate for 2012-2013 is $938 per credit hour. Fees (includes training, assessment and materials cost) are $700 per academic year. Tuition and fee rates are subject to increases each academic year. Please visit Medaille's Doctor of Psychology page.

Q: My FAFSA loans will not be enough, how do I apply for additional loans?
A: You can apply for a Direct Graduate Plus Loan by visiting http://www.studentloans.gov. This type of loan can be applied for in addition to the FAFSA loans. You must complete a FAFSA before applying for the GRAD Plus loan. Additionally, applicants who are applying though the Department of Education are subject to a credit check. You will be notified by the Department of Education via email of an approval or denial. If denied, applicants are recommended to obtain a co-signer. The fixed interest rate for the GRAD Plus loan is 7.9%. For further information on the GRAD Plus loan, please visit http://www.studentaid.ed.gov.
Students can also apply for an additional loan through a bank. To apply for an Alternative Loan, visit our Alternative Loan Preferred Lender List. If you are approved through one of our preferred lenders, we will certify the amount of loan that you are eligible for and transmit this information back to the lender for a final guarantee. Please understand that you have the right and ability to select the lender of your choice, are not required to use any of the lenders on our preferred lender list, and will suffer no penalty for choosing a lender that is not on our list.

Q: Do I get charged for books?
A: Medaille does not charge you directly for books, but you will have book costs. Students have the option to purchase text books through the Medaille College Book Store.

Q: How am I billed?
A: You are billed per semester. Each semester’s bill may be different depending on how many credits you are taking in a semester. Your bill will be available via MedailleOne. You can view it and also make payments by accessing your e-bill.

Q: I would prefer to pay some of my tuition. Are there payment plan arrangements available?
A: Yes, there are payment plan arrangements available. Please contact the Student Accounts Office if you have questions or would like to set up a payment plan. They can be reached at (716) 932-2599.

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