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Graduate school can be challenging enough without
worrying about making ends meet. The MA Program offers several options
to help students along financially.
Departmental Scholarships
All full-time MA students receive a departmental
scholarship that is applied directly to tuition costs. The scholarship
amounts to about a one-third reduction in tuition and is split between
the fall and spring semesters.
Research Assistantships
Full-time MA students are eligible to apply for a
research assistant position. Students work with faculty members
on a wide array of assignments designed to supplement their coursework
and to give them valuable professional experience.
Loans for Graduate Students
In addition to the options listed above, Federal
Stafford Loans are available to help graduate students meet their
financial needs. There are two types of Federal Stafford Loan—subsidized
and unsubsidized. Subsidized loans are based on financial need.
Unsubsidized loans are awarded regardless of student or family income.
Subsidized Federal Stafford Loan: Students may borrow
$8,500 maximum, annually. Interest payments do not begin accruing
until after graduation.
Unsubsidized Federal Stafford Loan: Students may
borrow $10,000 maximum, annually. Interest begins accruing when
the loan is awarded. Interest may be paid while the student is in
school or deferred until after graduation.
Federal Stafford Loans are made by a lender such
as a bank, credit union, or savings and loan association. The Financial
Aid Office recommends borrowing through the Pennsylvania Higher
Education Assistance Agency (PHEAA) to avoid delays in loan processing
and disbursements.
Payment Options
Carnegie Mellon offers two affordable and convenient
payment options through the KNIGHT College Resource Group. First,
the Carnegie Mellon Monthly Payment Plan through KNIGHT allows you
to pay academic year expenses in 10 interest-free installments.
The only cost to you is a nonrefundable $60 application fee. Second,
the AchieverLoan offers credit-worthy families the benefits of low
interest rates, low monthly payments and the choice of three flexible
financing options-the Multiple Year Option, Annual Option or Interest-only
Option. If you have any questions or need additional information
on payment options through the KNIGHT College Resource Group, please
contact KNIGHT at 800-925-5626 or the HUB at (412) 268-8186.
Part-time Enrollment
Some students choose to enroll part-time in the MA
program, which allows them to work and pursue their degrees at the
same time. However, because most of the core courses are offered
during the day, part-timers must be able to arrange their work schedules
to allow for flexibility.
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