Loans for Graduate Students

Criteria for Eligibility

Graduate students who are accepted into a degree program and register for at least half-time credits in a semester may apply for a federal loan through the government’s Direct Loan Program.

Federal Direct Loans carry a fixed interest rate and offer benefits to borrowers such as deferred repayment while the borrower is enrolled in school and the possibility of loan forgiveness for teachers in low-income areas or other eligible professions. For more information about the Direct Loan program including current interest rates, borrower benefits and other terms and conditions, visit the government's Federal Student Aid site.

Academic standards need to be met each semester in order to be eligible to receive Federal Direct Loans. For more information on Satisfactory Academic Progress, click here.

How to Apply

Complete the steps below each semester that you would like to apply for financial aid. Steps 3 and 4 (Master Promissory Note & Entrance Counseling) only need to be completed if this is your first time applying for financial aid at Gordon College as a Graduate student.

1. Complete the Graduate Financial Aid Form

2. Complete the FAFSA

Students who wish to borrow a Federal Direct Loan must complete the FAFSA, the Free Application for Federal Student Aid. A new application must be received each year that you would like to apply for a loan. For courses taken from Summer 2024 through Spring 2025, choose the 2024-25 FAFSA. Click here to complete one now.

3. Sign your Master Promissory Note (first time borrowing as a Gordon Graduate student)

Once you’ve completed your FAFSA you will need to complete a Master Promissory Note (MPN) with the Department of Education. Choose the form for "Direct Subsidized/Unsubsidized loan". Click here to complete the MPN now.

4. Complete Loan Entrance Counseling (first time borrowing as a Gordon Graduate student)

Loan Entrance Counseling is also a federally required step for any student who wishes to borrow a Direct Loan. Click here to complete this now.

5. Complete the Loan Disbursement Authorization Form (after receiving your Award Letter)

Gordon will receive a notification when your FAFSA has been completed and an award letter will be emailed to you informing you of the total Direct Loan amount you are eligible to borrow. The last step in this process is for you to complete our Loan Disbursement Authorization Form.

Enrollment Status

Enrollment status is determined by the total number of credits a student is registered for within a semester:

Part-time: 1-4 credits
Half-time: 5-8 credits
Full-time: 9 credits or more

Disbursement of Funds

Your loan amount will be disbursed to your student account when you have achieved half-time status. This means that you must have attended your qualifying class beyond the withdrawal period. Students who cease to be enrolled at least half-time are not eligible to receive federal loans.

Deadlines for Federal Loans

By the date your bill is due:

Apply for admission into the graduate program
Submit a Graduate Financial Aid Form to Student Financial Services
Complete a FAFSA for the current award year
Have a Master Promissory Note and Entrance Counseling completed
Submit a Loan Disbursement Authorization form to Student Financial Services

Requesting a Refund

Students with a credit balance may request to withdraw that money in the form of direct deposit or a check. Click here to be directed to our Refund Request Form.

Loan Cancellation or Deferment for Teachers

Learn about federal loan cancellation or deferment for teachers at the government's Student Aid site.

Loans from Private Lenders

Private student loans are available for students who do not wish to or are not eligible to borrow a Federal Loan. We will work with any lender you choose, or you can choose from our preferred lender list here. As with any loan, Gordon College suggests that students review all terms and conditions of any private student loan before borrowing.

To receive a private student loan you must initiate this loan with the lender of your choice. Once you have begun the application process, please complete the Graduate Financial Aid Form.

Cost of Attendance

To help you plan for all of your graduate school expenses, whether you choose to pay up-front or cover through loans, below is the estimated cost of attendance for each graduate program at Gordon. These estimates are based on full-time enrollment in graduate courses (three 3-credit classes per semester), although many students choose to pursue their degree part-time and take one or two classes at a time. In addition to those billed costs, the U.S. government considers food, housing and miscellaneous expenses to be part of the real costs of being a full time student, even though most graduate students are not eligible for housing or a meal plan on the Gordon campus. Therefore, when determining your financial aid package (including loans), we consider tuition, anticipated food and housing costs, and estimated transportation and textbook costs, as listed in the tables below.

Graduate Programs in Education Cost of Attendance For Financial Aid Purposes

Billed Costs Please note: although this estimate is based on full-time tuition, your individual bill will reflect the course load you choose each semester	Per Semester
Tuition (9 credit hours)	$3,150
Administrative fee	$75
Estimated Unbilled Costs
Off-campus Housing	$6,300
Food	$2,450
Books, transportation, miscellaneous	$1,100

Graduate Public Health Cost of Attendance For Financial Aid Purposes

Billed Costs Please note: although this estimate is based on full-time tuition, your individual bill will reflect the course load you choose each semester	Per Semester
Tuition (9 credit hours)	$5,625
Estimated Unbilled Costs
Off-campus Housing	$4,200
Food	$2,450
Books, transportation, miscellaneous	$1,100

Graduate Music Education Cost of Attendance For Financial Aid Purposes

Billed Costs Please note: although this estimate is based on full-time tuition, your individual bill will reflect the course load you choose each semester	Per Semester
Tuition (9 credit hours)	$5,850
Comprehensive fee	$225
Estimated Unbilled Costs
Off-campus Housing	$4,200
Food	$2,450
Books, transportation, miscellaneous	$1,100

Graduate Leadership Cost of Attendance For Financial Aid Purposes

Billed Costs Please note: although this estimate is based on full-time tuition, your individual bill will reflect the course load you choose each semester	Per Semester
Tuition (9 credit hours)	$6,300
Comprehensive fee	$75
Estimated Unbilled Costs
Off-campus Housing	$4,200
Food	$2,450
Books, transportation, miscellaneous	$1,100

Graduate Financial Analysis Cost of Attendance For Financial Aid Purposes

Billed Costs Please note: although this estimate is based on full-time tuition, your individual bill will reflect the course load you choose each semester	Per Semester
Tuition (9 credit hours)	$7,200
Comprehensive fee	$250
Estimated Unbilled Costs
Off-campus Housing	$4,200
Food	$2,450
Books, transportation, miscellaneous	$1,100

CONTACT INFORMATION

Student Financial Services
Gordon College, 255 Grapevine Road, Wenham, MA 01984
P 978 867 4246 | E [email protected] | F 888 965 0658

Loans for Graduate Students

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