How Do I Pay for Graduate School?
Financial Aid Process • Payment Plans
Payment Options
We know that paying for your graduate degree is an important factor when choosing a school. Contact the Graduate Information Office to talk more about the key factors to consider – or, read on to learn about the different ways you can finance your graduate degree.
Financial Aid Process
Applying for Financial Aid
Complete all steps below to apply for financial aid.
Note: There are financial aid options that are not based on need.
Most students in our online programs use financial aid to pay for their program. We recommend that you complete these steps as soon as possible to make sure that your payment arrangements are in order by the first night of class. For help, please contact the Financial Aid Office at (201) 559-6010 or finaid@felician.edu. You can also visit “Seven Easy Steps to the FAFSA” for additional tips.
The FAFSA is available online. If you do not have access to a computer you may request a paper version from the Financial Aid Office. Students should submit the 2024-2025 form. You will need your 2022 Federal Tax Return, your FSA ID, and Felician University’s code (002610). Graduate students are considered independent for financial aid purposes.
Online processing time for the FAFSA takes 2-3 business days.
The Department of Education will notify you when your application is processed and will provide you with a Student Aid Report (SAR). If you notice any errors after reviewing your SAR, log back into your FAFSA to make corrections.
You will receive your financial aid award letter from Felician once you have been academically accepted.
This lists the financial aid you will qualify for. If you wish to decline all or a portion of the award, notify the Financial Aid Office in writing. Be sure to contact the Financial Aid Office if you have any questions on your award.
Complete Loan Entrance Counseling and the Master Promissory Note
Entrance Counseling is only required for first time Federal Direct Loan borrowers; all borrowers must complete a Master Promissory Note. Both can be completed at https://studentloans.gov/myDirectLoan/index.action (you will need your FSA ID from Step 1).
Students Receiving Financial Aid
Federal Loan Requirements
To be eligible to borrow funds under the Federal Direct Loan Program, you must:
- File the Free Application for Federal Student Aid (FAFSA)
- Be a U.S. Citizen or permanent resident
- Not be in default on prior educational loans
- Maintain satisfactory academic progress
Questions? Call the Financial Aid Office at 201-559-6010 or finaid@felician.edu
Enrolling in a Pay-As-You-Go Payment Plan
The University offers a payment plan that is simple, inexpensive and a convenient way of dividing your NET COST or your estimated annual balance over two 5-month sessions. This interest-free plan does not require a credit review. You may access the payment plan at our new Felician Payment Center, located under MyFelician at https://felician.edu/my-felician/.
For more information on our Payment Plan, contact Student Accounts at 201-559-6045 or studentaccounts@felician.edu.
The Federal (Title One) Teacher Loan Forgiveness Program
If you and your school qualify, this program may provide loan forgiveness for eligible Federal Direct Loans. This is a separate program requiring separate forms and processes. The U.S. Department of Education will determine your eligibility for this program Felician University is not responsible to verify your eligibility for this program. Please do not base your enrollment on this program, as it can be difficult to ensure qualification for government programs which are subject to reform and funding changes.
You must call 1-800-4-FED-AID to verify your eligibility or visit https://studentaid.gov/sa/repay-loans/forgiveness-cancellation/teacher for more information.
The TEACH Grant
TEACH (Teacher Education Assistance for University and Higher Education) Grant (loan) is a merit based Federal Title IV program designed to encourage highly qualified teachers to serve in low-income schools in high-need fields. Grant recipients agree to teach for at least four years within eight years of finishing their teacher preparation program and to teach high-need students in designated schools that serve low-income students.
For more information, visit https://studentaid.gov/teach-grant-program.