Mount Holyoke College is pleased to offer financial assistance to students in our graduate degree programs. Select the program you are interested in for more information:
Federal grant and loan, and state and private loan assistance is also available for graduate students:
The federal TEACH Grant Program provides grants of up to $4,000 a year to full time graduate students who are completing or plan to complete the course work needed to become teachers. (A graduate student may receive a total of two scheduled awards for a total of $8,000.) There are a number of conditions and requirements that must be met in order to receive the TEACH grant. Please see here for more information.
Federal Direct Student Loan
Graduate students are eligible for the Federal Direct Student Loan (FDSL) for up to $20,500 for the academic year, provided they are enrolled in at least four credits per semester. The FDSL loan interest rate for the 2015-16 academic year is 5.84% and the loan is unsubsidized (interest accrues on the loan during periods of enrollment). Repayment begins six months after the student is no longer enrolled in at least four credits. Graduate students may borrow a maximum amount of $138,500 for their graduate/professional education. Students must complete the Free Application for Federal Student Aid (FAFSA) in order to receive an FDSL.
Grad PLUS Loan
GradPLUS loans are available for up to the cost of attendance minus any other awarded financial aid (including loans). The interest rate for the 2015-16 academic year is 6.84% and repayment begins two months after the last disbursement for the academic year. Graduate students must be enrolled in at least four credits to be eligible for federal loans. Students must file the Free Application for Federal Student Aid (FAFSA) to be considered for a grad PLUS loan.
MEFA Graduate Student Loan
Massachusetts Educational Financial Authority (MEFA) is a non-profit state agency that offers financing to U.S. citizens or permanent residents who are studying at least half time at accredited degree-granting non-profit colleges and universities. The MEFA Graduate Student Loan for the 2015-16 academic year has a fixed interest rate of 6.84% during the in-school period and 7.79% during repayment. The deferred repayment fixed interest rate is 7.19%.
Private Student Loans
We encourage student to maximize federal loans before borrowing from private student loan sources because the federal loan program offers repayment options based on income, forbearance and offers deferral options during times of extreme economic hardship. In addition, under some circumstances students may receive loan reduction or forgiveness for public service and teaching in high need areas. Students interested in private (alternative) student loans may find more information on our alternative student loan page.
International Graduate Students
Many of the private lenders who lend to Mount Holyoke undergraduates will also lend to graduate students who have qualified co-signers who are U.S. citizens or permanent residents.