Yes, you can use FAFSA for graduate school, but the process and your options differ significantly from undergraduate aid

Graduate students can file the Free Application for Federal Student Aid (FAFSA) and access federal loans, but you will not see grants or work-study in the same way undergraduates do. The main federal aid available to graduate students is the Unsubsidized Direct Loan, which has higher borrowing limits than undergraduate loans. Some graduate programs also offer Graduate PLUS Loans, which let you borrow additional amounts but require a credit check. A few graduate students may receive fellowships or assistantships through their schools, but these are not part of the FAFSA process itself.

The FAFSA still determines your Expected Family Contribution (EFC), now called the Student Aid Index (SAI), which affects how much federal aid you can receive. However, graduate school financial aid works differently because graduate students are considered independent for FAFSA purposes — your parents' income and assets do not factor into your aid calculation, even if they do help pay.

Key Takeaways

  • Graduate students file the same FAFSA form as undergraduates but are treated as independent, so parental financial information is not required.
  • The main federal loan available to graduate students is the Unsubsidized Direct Loan, which charges interest from the moment you borrow and has annual limits of $20,500.
  • Graduate PLUS Loans allow you to borrow additional amounts beyond the standard loan limit, but they require a credit check and carry a higher interest rate.
  • Grants and work-study are rarely available to graduate students through FAFSA; most graduate aid comes from your school in the form of assistantships, fellowships, or tuition waivers.
  • You must be enrolled at least half-time in a graduate program at a school that participates in federal student aid to use FAFSA for graduate school.

How graduate FAFSA differs from undergraduate FAFSA

When you file FAFSA as a graduate student, you will answer fewer questions about family finances. Graduate students are automatically considered independent, which means the form does not ask for parental income, assets, or tax information. This is a major difference from undergraduate FAFSA, where parental finances usually determine your aid amount.

Your graduate school will still use your FAFSA information to calculate your cost of attendance and determine how much federal loan money you can borrow. However, the school's financial aid office may also consider your own income, savings, and other resources when deciding whether to offer institutional aid like assistantships or tuition reductions.

Federal loans available to graduate students

The Unsubsidized Direct Loan is the primary federal loan for graduate students. You can borrow up to $20,500 per academic year, with a total limit of $138,500 for graduate study (including any undergraduate loans you still owe). Interest accrues from the day you borrow, and you begin repaying six months after you drop below half-time enrollment. The interest rate is set by Congress and changes each year; you can find the current rate on the Federal Student Aid website.

If you need to borrow more than the standard loan limit, you can apply for a Graduate PLUS Loan through your school's financial aid office. This loan lets you borrow up to your full cost of attendance minus any other aid you receive. Graduate PLUS Loans require a credit check, and the interest rate is higher than the standard unsubsidized loan. You must begin repaying these loans six months after you leave school, though you can request a deferment while you are still enrolled.

Some graduate students also receive Perkins Loans through their schools, though these are becoming less common as schools discontinue the program. Perkins Loans have a lower interest rate and more flexible repayment options, but availability depends on your school.

Grants and other aid for graduate students

Federal Pell Grants, which are common for undergraduate students, are not available to graduate students. Graduate students rarely receive any form of grant aid through FAFSA. Instead, graduate aid typically comes directly from your school in the form of tuition waivers, assistantships, or fellowships.

Many graduate programs offer teaching assistantships or research assistantships that provide a tuition waiver and a monthly stipend in exchange for work. These are awarded by the graduate program itself, not through FAFSA, and are often competitive. Some schools also offer merit-based fellowships to admitted students. You will learn about these opportunities during the admissions process or from your graduate program's website.

Work-study is also rarely available to graduate students. If your school does offer graduate work-study, you would find it listed on your financial aid package after you file FAFSA, but this is uncommon.

How to file FAFSA for graduate school

File FAFSA at fafsa.gov starting October 1 each year for the academic year beginning the following fall. You will need your Social Security number, driver's license or state ID, and tax information from the prior year. Because you are a graduate student, you will not need to provide parental information.

When you reach the question about your school, search for your graduate program's school code. Some large universities have different codes for different colleges or departments, so make sure you select the correct one. You can add up to ten schools on a single FAFSA form.

After you submit, you will receive a Student Aid Report (SAR) that shows your Student Aid Index. Your graduate school's financial aid office will use this to build your financial aid package, which may include federal loans, institutional aid, or both. You will receive this package by email or through your school's student portal, usually by spring for fall enrollment.

Income limits and other restrictions

There are no income limits for graduate students using federal loans. Even if you earn a high salary, you can still borrow the full amount of Unsubsidized Direct Loans available to you. Graduate PLUS Loans also have no income limit, though they do require a credit check.

You must be enrolled at least half-time in a graduate program at a school that participates in federal student aid. Most accredited universities and colleges participate, but some specialized or for-profit schools do not. You can check whether your school participates by searching the Federal Student Aid website's school search tool.

If you are a graduate student who also has undergraduate loans, your total borrowing across both levels cannot exceed the aggregate limit set by the Department of Education. Your school's financial aid office can tell you how much you have already borrowed and how much you can still take out.

Repayment options for graduate student loans

Graduate student loans have several repayment plans. The Standard Repayment Plan requires fixed payments over ten years. The Income-Driven Repayment Plans — including PAYE, REPAYE, IBR, and ICR — base your monthly payment on your income and family size, which can result in lower payments if you earn less than expected after graduation.

Graduate students often choose income-driven plans because they allow lower initial payments and forgiveness of remaining balance after 20 to 25 years of payments. However, forgiven amounts may be taxable as income. You can change your repayment plan at any time through your loan servicer's website.

Interest on unsubsidized loans continues to accrue while you are in school and during any deferment or forbearance period. Many graduate students choose to make interest-only payments while enrolled to avoid capitalization, which adds unpaid interest to the loan balance and increases the total amount you owe.

Frequently Asked Questions

Do I have to report my parents' income on graduate FAFSA?

No. Graduate students are treated as independent for FAFSA purposes, so you do not report parental income or assets. You only report your own income and savings. However, some schools may ask about parental finances on their own financial aid forms, so check with your graduate program's financial aid office.

Can I get a Pell Grant for graduate school?

No. Pell Grants are only for undergraduate students. Graduate students can only borrow federal loans through FAFSA. Grants for graduate study come from your school, employers, or private organizations, not from federal student aid.

What if my graduate program is not full-time?

You must be enrolled at least half-time to use FAFSA. If your program is part-time and you are below half-time enrollment, you cannot borrow federal loans. Check with your school's financial aid office about what counts as half-time for your specific program.

Can I borrow more than $20,500 per year for graduate school?

Yes, through a Graduate PLUS Loan. You can borrow up to your full cost of attendance minus any other aid you receive. Graduate PLUS Loans require a credit check and have a higher interest rate than standard unsubsidized loans.

Do I start repaying graduate loans while I am still in school?

No. Unsubsidized Direct Loans and Graduate PLUS Loans do not require payments while you are enrolled at least half-time. However, interest accrues from the day you borrow, so you can choose to make interest-only payments to reduce the total amount you owe after graduation.