Yes, graduate students can apply for FAFSA, but the process and aid types differ from undergraduate

Graduate students are not automatically excluded from FAFSA. You can fill out the form if you are enrolled at least half-time in a graduate or professional degree program at a school that participates in federal student aid. However, the aid you receive will look different from what undergraduates get — you will not see Federal Pell Grants, and loan limits are higher but so are your borrowing responsibilities.

The key difference is that graduate aid focuses on loans rather than grants. Most graduate students who receive federal aid get it through Direct Unsubsidized Loans or Direct PLUS Loans, which require you to begin repayment either while you are still in school or shortly after you leave. The amount you can borrow depends on your program length and your school's cost of attendance, not on financial need.

Key Takeaways

  • Graduate students must complete FAFSA to access any federal student aid, including loans and work-study positions.
  • Graduate aid consists mainly of unsubsidized loans and PLUS loans, not grants, so you will owe money regardless of financial need.
  • You must be enrolled at least half-time in a graduate or professional program at a school that participates in federal aid to may have access to.
  • Your school's financial aid office determines your cost of attendance and how much you can borrow based on your program type.
  • Interest on unsubsidized loans begins accruing immediately, even while you are in school, so the total you repay will be higher than the amount you borrow.

What graduate students can and cannot receive through FAFSA

Graduate students cannot receive Federal Pell Grants, which are reserved for undergraduate students. You also cannot receive Federal Subsidized Loans, where the government pays the interest while you are in school. What you can receive are Direct Unsubsidized Loans, Direct PLUS Loans for graduate students, and Federal Work-Study positions if your school offers them.

Unsubsidized loans start charging interest the moment the money is disbursed. If you do not pay the interest while in school, it gets added to your principal, meaning you will owe more when repayment begins. PLUS loans have a higher interest rate and an origination fee, but they allow you to borrow up to your school's cost of attendance minus any other aid you receive. Work-Study is a part-time job on or near campus that pays at least minimum wage.

How to complete FAFSA as a graduate student

Start at fafsa.gov and create a login using your Social Security number or Individual Taxpayer Identification Number. You will need your Federal Student Aid (FSA) ID, which you can create on the same site if you do not already have one. Have your tax return or tax information ready — you can import it directly from the IRS if you file taxes, or enter it manually if you do not.

When you reach the school selection section, search for your graduate program's school and add it to your list. FAFSA will send your information to that school's financial aid office. After you submit, you will receive a Student Aid Report (SAR) that shows what you entered. Your school will then send you a financial aid offer letter that lists the loans and other aid you are offered.

The FAFSA opens October 1 each year and remains open through the following June 30, though some schools have earlier deadlines. Check your school's financial aid website for its specific deadline, as missing it can delay your aid or reduce the amount you receive.

Graduate PLUS loans and borrowing limits

Graduate PLUS loans are a second borrowing option available only to graduate and professional students. Unlike unsubsidized loans, which have a set annual limit, PLUS loans let you borrow up to your school's full cost of attendance minus any other aid you receive. This means you could borrow significantly more, but you will also owe significantly more after graduation.

PLUS loans require a credit check, and you may be denied if you have recent adverse credit history. If you are denied, you can appeal or ask a creditworthy endorser to co-sign the loan. PLUS loans have a higher interest rate than unsubsidized loans and charge an origination fee of about 4 percent, which is deducted from each disbursement.

Before taking out a PLUS loan, understand that you will begin repayment six months after you leave school, and the monthly payment can be substantial. Many graduate students use PLUS loans only after exhausting their unsubsidized loan limit, because the higher cost makes them a more expensive option.

Repayment and what happens after graduation

Unsubsidized loans enter a six-month grace period after you graduate or drop below half-time enrollment. During this time, interest continues to accrue. PLUS loans also have a six-month grace period, though you can choose to begin repayment immediately if you want to reduce the total interest you pay.

After the grace period ends, you must choose a repayment plan. Standard repayment takes ten years. Income-Driven Repayment plans tie your monthly payment to your income and can extend repayment to 20 or 25 years, which lowers your monthly payment but increases total interest. Graduate students often use Income-Driven Repayment because starting salaries may be low relative to total debt.

If you work in certain public service jobs, you may be may be able to access for Public Service Loan Forgiveness, which erases remaining debt after 120 may have access to payments. However, this program has strict requirements about employer type and payment plan, so confirm your situation with your loan servicer before counting on it.

How graduate school status affects financial need

FAFSA calculates your Expected Family Contribution (EFC), now called the Student Aid Index (SAI), based on your income and assets. For graduate students, the formula treats you as independent, meaning your parents' income does not count — only yours does. This can work in your favor if your parents have high income but you do not.

However, if you have significant income or savings, your SAI will be higher, which reduces the amount of aid your school can offer. Some graduate programs offer teaching or research assistantships that provide tuition coverage and a stipend; these do not count as income for FAFSA purposes in most cases, so they can improve your aid package without affecting your SAI.

Frequently Asked Questions

Do I have to fill out FAFSA if I only want to take out loans?

Yes. FAFSA is the gateway to all federal student aid, including loans. Even if you are certain you want only loans and no grants, you must complete FAFSA first. Your school cannot offer you federal loans without it.

What if I am a part-time graduate student?

You must be enrolled at least half-time to receive federal aid. If you are taking fewer than half the credits required for full-time status, you are not may be able to access for loans or work-study. Check your school's definition of half-time, as it varies by program.

Can I get a federal grant as a graduate student?

Federal Pell Grants are for undergraduates only. Some graduate students receive institutional grants from their school, but these come from the school's own funds, not from FAFSA. Your school's financial aid office will tell you if you are offered any grants in your aid letter.

Do I need to resubmit FAFSA every year?

Yes. You must complete FAFSA each year you are enrolled and want to receive aid. Your income and circumstances may change, which affects the aid you receive. Your school will send you a reminder when the new FAFSA opens each October.

What if my graduate program is not listed on FAFSA?

Search for your school first, then confirm with your financial aid office that your specific program participates in federal aid. Some graduate programs, particularly at for-profit schools or very specialized institutions, do not participate. Your school's financial aid office can tell you immediately whether you are may be able to access.