Financial Assistance for Graduate Programs

Church Match Grants

Students who receive tuition assistance grants that originate from a congregation, a church conference, or a group of churches who have pooled resources for the purpose of providing tuition assistance grants are eligible to receive a matching grant. Enrollment of at least 6 hrs/semester in either the MAC or CJP program is required. The maximum grant eligibility is $1000 per academic year and $2000 during the lifetime of the student’s studies. March 1 is the"preferred response date" for churches to inform EMU of their intent to send funds for students.

Federal Direct Student Loans

As of July 1, 2012 all federal direct student loans for graduate student are unsubsidized. Loan funds come from the federal government to the school. The student is charged interest from the time the loan is disbursed until it is paid in full. If the student allows interest to accumulate, it will be capitalized which means added to the principal amount of the loan and increases the amount of loan the student will need to repay.

Students may borrow up to $20,500 per academic year.

The interest rate for Direct Student Loans borrowed after July 1, 2009 is fixed at 6.8%. Processing fees of 1.051% are automatically deducted from each disbursement of the loan. Repayment of the full amount begins six months after a student ceases to be enrolled at least half-time. See also the Federal Direct Loan Information page.

Federal Graduate PLUS Loans

The Graduate PLUS Loan is another federal loan program for graduate students. Borrowers must be credit worthy. Eligibility is determined after the unsubsidized Federal Direct Loans have been awarded. However, a student may decline the Direct Loan awards and borrow only the Graduate PLUS Loan. The interest rate is 7.9% (fixed) and repayment begins 60 days after the final disbursement. In-school deferment is an option for half-time or more enrollment, but interest payments are required. A loan origination fee of 4.204% is automatically deducted from each disbursement.