Graduate School Navigation

Loans

Our goal at Marlboro College is to make the financial aid process as simple and painless for you as possible.

Getting Started

Your first step in applying for financial aid is to complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.gov. Marlboro College’s school code is 003690.

FAFSA Deadlines:

  • For students enrolling for the first time in the fall trimester: August 1

  • For students enrolling for the first time in the winter trimester: December 15

  • For students enrolling for the first time in the spring trimester: April 15

  • For returning students, complete and submit your FAFSA each year by August 1. Your financial aid award year begins with the fall trimester and includes the winter and spring trimesters of the following calendar year.

Once your course registration has been approved by the Marlboro College registrar, and the financial aid office has received your FAFSA, we will calculate a financial aid award package. Letters will be mailed to first-time students, all subsequent letters will be e-mailed to your graduate school email address. Your award package will provide guidance for next students and will include inserts with important information.

Federal Direct Student Loans:

If you have been offered a federal direct unsubsidized loan in your financial aid award, and you will be accepting this loan, please read the following information. Direct Loans are fixed-rate loans available to eligible students to help pay for the cost of a student’s college education after grants and scholarships have been considered. The lender is the U.S. Department of Education, though the entity you deal with, your loan servicer, can be a private business.

Students attending graduate school are eligible for the Federal Direct Unsubsidized, as long as eligibility remains. Recipients of Federal Direct Loans must be enrolled in school at least half-time (4 credit hours in a graduate program).

  • Federal Direct Unsubsidized Loan is a loan program through which the loan interest accrues while the student is enrolled. This type of loan is non-need based.

Federal undergraduate student loans are limited by the government, based on grade level and dependency status. Once the FAFSA application has been completed online at: www.fafsa.gov, the financial aid office will review a student’s eligibility for the unsubsidized loan, and offer these as part of the financial aid award.

The unsubsidized loan has an annual loan limit of $20,500 for graduate students, depending on the cost of attendance for a program. Amount offered may be less if cost is lower.

Requirements:

When borrowing funds from this program, students must complete

  1. Entrance Counseling
  2. Loan Agreement (MPN)

These two items can be completed online at: www.studentloans.gov

Federal Grad Plus Loans

If you will be applying for a federal Grad PLUS loan, the following information will guide you through the loan application process. All federal Grad PLUS loans must be borrowed through the Direct Student Loan Program (also known as William D. Ford Federal Direct Loan Program).

Requirements

  1. Application/Master Promissory Note (MPN)

  2. Marlboro College’s Grad PLUS processing form

  3. Entrance Counseling

Master Promissory Note (MPN)

In order to borrow a federal Grad PLUS loan you must first complete a master promissory note. This note is your contract; by signing it you are agreeing to repay your loan and abide by the terms and conditions of the loan. To complete the MPN:

  • Log onto www.studentloans.gov. In the “Manage My Direct Loan” section click on “Sign In.” You will need your user ID and password from the FAFSA to sign in.

  • To obtain information on browser compatibility, on this website refer to the “Learn More” section and click on “What you need for Direct Loans.”

  • Documents you will need to complete your MPN:

    • Your user ID and password from the FAFSA to electronically sign the MPN

    • Your personal information including social security number and your driver’s license

    • Your employer information

You must complete your MPN in 30 minutes or less, so it would be best if you have all of the information above prepared in advance. You cannot use the back button to navigate back, and there is no save option.

Private Loans

Students and parents/credit-worthy co-borrowers may want to explore funding options beyond the Federal Direct PLUS Loans. Marlboro College subscribes to an alternative financing options website that offers a comparison tool. Students and parents can get information and apply for a variety of alternative financing options by visiting www.elmselect.com. Marlboro College cannot recommend a specific lender due to federal guidelines.

Resources

Detours

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