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Executive Masters Of Business Administration (EMBA)

If you are a degree seeking student and meet financial aid citizenship requirements, you may be eligible for the Stafford and/or Graduate PLUS Loan programs.

  • To be considered for the Stafford and/or Graduate PLUS Loan programs, you must complete the Free Application for Federal Student Aid (FAFSA) using Purdue’s school code: 001825.
  • Both the Stafford and Graduate PLUS Loan programs require that you be enrolled at least half time (four credit hours).
  • Stafford and Graduate PLUS Loan requests can be accepted up to two weeks prior to the end of the module.

Financial assistance may be available from alternative loan programs.

  • A cosigner may be required if you have no credit, have an insufficient credit history, or are an international student.
  • Alternative loans may also be available to students enrolled less than half time.
  • It is recommended that loan requests be made at least one month prior to the beginning of the semester of enrollment.

For a yearly timeline of financial aid, please review the below information to ensure you understand and follow all necessary steps.

  • Complete the 2014-2015 FAFSA at www.fafsa.ed.gov

      If you are starting in the spring or summer term, you will need to complete the previous year’s FAFSA AND one for the upcoming year.

      Incoming 1415 FAFSA results are downloaded Tuesday evenings and 1314 FAFSAs are downloaded Friday evenings. Once we have a FAFSA, it will take 1-2 weeks to process.

      You will need to log into your myPurdue under the Financial Tab to check several items.

      • - Financial Aid Requirements: Make sure there are no red flags/outstanding requirements
      • - Important Messages: Double check there are no alerts needing attention
      • - Academic Progress: Review your status to ensure you are SATI

  • You can view or accept your Financial Aid Award by following these steps

      1. Log on at https://mypurdue.purdue.edu.

      2. Click on Financial tab.

      3. In the Quick Links column, click on "Award for Aid Year."

      4. Choose appropriate aid year and click submit.

      5. Click on Accept Award Offer tab.

      6. Enter in the amount you would like to borrow in the text box and choose "Accept" from the drop-down box next to the loan you would like to accept.

      7. Click the "Submit Decision" button.

  • Additional Loan Requirements

      • Perkins or Purdue Loans

      • You will receive an email from ECSI, a third party loan servicer, 1-2 business days after you accept the loan. The email will direct you to www.ecsi.net/prom3P so that you can complete a Promissory Note.
      • Perkins Loans require only one Promissory Note, while Purdue Loans require that students complete a new Promissory Note each time a new loan is borrowed.
      • These loans will pay when the following conditions are met:
        • - It is within ten days of the start of your first class
        • - You have signed your Promissory Note and we have it in our system
        • - You have confirmed your enrollment on myPurdue

      • Direct Stafford or Graduate PLUS Loans

      • Direct Stafford Loans are accepted on the student’s myPurdue account, while the Graduate PLUS Loan requires an application located on www.studentloans.gov.
      • Once the Stafford Loans have been accepted and the Graduate PLUS Loan has been approved, borrowers must complete two items: Loan Entrance Counseling and a Master Promissory Note, both of which can be completed at www.studentloans.gov. Both of these last for ten years, so students typically only need to complete each request once.
      • These loans will pay when the following conditions are met:
        • - It is within ten days of the start of your first class
        • - You have completed Loan Entrance Counseling and signed a Master Promissory Note, and we have downloaded these into our system
        • - You have confirmed your enrollment

  • Confirming your Enrollment

      Steps to confirm enrollment:

      • 1. Log into your myPurdue account
      • 2. Select the Financial Tab
      • 3. Click Confirm your Enrollment for the Coming Semester

      This can be done only after your bill has been paid in full or you have made the first payment of the Installment Plan.

      Failure to confirm your enrollment by the deadline may result in the cancellation of your classes.

      If you do not receive a response with green text stating that all enrollment requirements have been satisfied, then you will need to contact our office to determine what is preventing you from confirming.

  • Set Up Direct Deposit

      1. Log into myPurdue at https://mypurdue.purdue.edu

      2. Click on the Financial Tab

      3. Click Manage my Account

      4. Select eRefunds on the toolbar to enter your information

The EMBA Program is made up of 6 modules (every 2 is an academic year), but the 2015 Cohort has only 5 payment cycles. Each academic year will have two loan disbursements, where half of the amount of accepted loans will apply to each module. Loan funds will pay to Purdue University and be applied to any unpaid fees. Excess funds will be refunded to you. Please note that payment for modules 3 & 4 have been condensed into the summer term; however, you will still have two loan disbursements.

If you are borrowing to also cover your living expenses you will not have access to these funds until the second summer disbursement (05/28/2015). Please plan accordingly.

Maximum loan amounts per academic year are as follows:

Stafford Loan: The lesser of $20,500 or the cost of education
Graduate PLUS Loan: Cost of education minus other aid
Alternative Loan: Cost of education minus other aid

For more information about the program, please visit the EMBA homepage.

Please feel free to contact us at dfa_pec@lists.purdue.edu should you have further questions.

CLASS OF 2016
Loan Availability Module Enrollment Period Enrollment Dates Disbursement Dates for Excess Funds Sample Cost of Attendance Offered Loan Amounts

Loan 1

AY 2014-15

Mod1 Fall 2014 9/21/14 9/11/14

$19,499

(tuition = $15,000)

Stafford Loan = $13,667

Graduate PLUS Loan = $25,331

Mod2 Spring 2015 3/15/15 12/4/14

$19,499

(tuition = $15,000)

Loan 2

AY 2014-15

Mod3 Summer 2015 3/22/15 3/12/15

$22,984

(tuition = $15,000)

Stafford Loan = $6,833

Graduate PLUS Loan =$16,151

Mod4 Summer 2015 8/16/15 5/28/15

Loan 3

AY 2015-16

Mod5 Fall 2015 8/23/15 8/23/15

TBD

(tuition = $15,000)

Stafford Loan = $20,500

Graduate PLUS Loan = TBD

Mod6 Spring 2016 2/28/16 11/19/15

TBD

(tuition = $15,000)