Masters of Science in Finance Program
Thank you for considering Purdue University’s Master’s in Finance program.
The Purdue University Division of Financial Aid can assist you in obtaining student loan funding. If you are degreed seeking and meet financial aid citizenship requirements, you may be eligible for the Stafford and/or Graduate Plus loan programs. International students with a U.S. citizen cosigner may be eligible for alternative loan options.
To be considered for the Stafford and/or Graduate Plus loan programs, you must complete both 10/11 (for Module 1) and the 11/12 (for Modules 2-5) Free Application for Federal Student Aid (FAFSA). Visit http://www.purdue.edu/dfa/all/applying.php for more information on how to apply. Our School Code is 001825.
Loan disbursements are made in three disbursements; one for Module 1, one for Module 2 and 3, and one for Module 4 and 5. Loan proceeds will be disbursed to Purdue University who will apply them to any unpaid fees, and disburse the remaining funds to you.
Financial assistance may also be available in the form of private/alternative loan programs. A cosigner is required only if you have no credit, have an insufficient credit history, or you are an international student. You can obtain more information about alternative loans at http://www.purdue.edu/dfa/loans/altloans.php
You can borrow up to Purdue’s estimated cost of education, which includes allowances for fees and travel. Maximum loan amounts for the entire program are as follows:
Stafford Loan: 20,500 or the less of cost of education
Graduate Plus Loan: Cost of education minus other aid
Alternative Loan: Cost of education minus other aid
The estimated cost of education beginning Summer 2011 is:
| 2011/2012 Costs | Summer 2011 |
1 Semester | Fall & Spring | |
| Tuition & Fees | $11,000 | $14,000 | $28,000 | |
| Room & Board | $1,520 | $4,755 | $9,510 | |
| Books | $400 | $730 | $1,460 | |
| Travel | $205 | $740 | $1,480 | Indiana Residents |
| $205 | $316 | $632 | KY, IL, IA, MI, MO, OH, TN, WI, WV | |
| $205 | $1,372 | $2,744 | All other states | |
| Miscellaneous | $720 | $1,525 | $3,050 | |
| Total | $13,845 | $21,750 | $43,500 | $57,345 Total for Mods 1-5 (Indiana Residents) |
Sample Loan Schedule:
| Loan Schedule | Sample Cost of Attendance | Loan Period | Begin/End Dates | Disbursement Dates | Student Example |
|---|---|---|---|---|---|
| Mod 1 Loan | $13,845 | Summer 2011 | Begin: 7/11/2011 End: 10/10/2011 |
7/2/2010 | Stafford Loan: $13,845 |
| Mods 2-5 | $43,590 | Fall 2011 & Spring 2012 | Begin: 8/22/2011 End: 5/5/2012 |
8/12/2011 & 1/2/2012 | Stafford Loan: $6,655 Grad PLUS: |
It is recommended that loan requests be made at least one month prior to the beginning of the semester of enrollment, however, Stafford and Graduate Plus loan requests can be accepted anytime during the module.
Please feel free to contact us at www.purdue.edu/dfa/contact.php should you have further questions.
For more information about the program, please visit www2.krannert.purdue.edu/