Financial Aid for Direct-Entry MSN program


The direct-entry MSN program is graduate-level program. Please be sure to fill out your FAFSA using the appropriate class level, degree and designation of "yes" for working on a Master's degree. This will save time when it comes to awarding. As such, the program qualifies for graduate-level financial aid. Please use the following information sheet as a resource to help answer many of your initial questions, including questions about pre-requisites that may be needed prior to beginning the DEMSN program:

DEMSN Financial Aid Information Sheet

Costs and aid by semester

The charts below are meant to give you a general idea of the costs and available aid. Individual eligibility varies. After filing your FAFSA, you will get an award letter emailed to you once your Federal Stafford loans have been awarded, if you qualify. Be sure to check with the Financial Aid Office for questions related to your specific eligilbity before starting. Please be aware that the tution and fees are billed each semester and the tuition costs are at a per-credit rate. If your credit load differs from the below, your charges will be different.

The per-credit rate beginning Fall 2020 is $676/credit. Students are also billed a $400 comprehenstive fee for Fall/Spring semesters. Course fees vary depending on the courses that you are registered for.

*The estimates below do not account for changes in budgeted amounts for living expenses, tuition and fees, changes in federal funding levels, etc. Year to year tuition increase are typically between 3-5%. Your individual eligibility may be different than this estimate based on past borrowing, etc.


How to calculate your balance and amount needed for Graduate PLUS loan application:

1. Calculate tuition rate by using $676 * number of credits

2. Add $425 comprehensive fee for a fall or spring semester.

3. Add course fees (anywhere between $40-$986 per semester)

4. Subtract semester Stafford loan amount available per award letter. ($20,500 is the maximum annual loan amount, divide this amount by the number of semesters to get the per semester loan amount available. Be sure to account for 1% loan origination fee that the federal government takes out upon disbursement.)

5. If the resulting number is a positive number, this is the amount you owe after loans. If the resulting number is a negative number, this is a credit balance. You will receive a check for this amount unless you tell us that you want to reduce your loan.

6. If you are applying for a Graduate PLUS loan, you can use the balance from step 5 to calculate the amount of loan you need to apply for, in that term. Be sure to double the amount of a semester balance if you are applying for a loan for fall and spring. If you choose to apply for the maximum loan amount, you will recieve a loan that covers indirect costs like living expenses, books and supplies. If you select the maximum, the resulting refund check is typically between $6,000-$9,000. If you don't want to borrow quite so much, you should apply for a specific amount, based on your calculation in step 5.



Loan Resources

Federal Direct PLUS Loan for Graduate Students
The PLUS loan for Graduate Students is a federally guaranteed loan program for students in a graduate-level degree program.  Repayment begins after disbursement, unless you select otherwise.  The fixed interest rate is 7.079% and 4% in fees is deducted from the principle amount prior to disbursement.  Graduate students must use their FSA ID to complete the process.

How to apply for a Graduate PLUS Loan
Graduate students should apply for a PLUS Loan at Once approved for the loan, the student also needs to complete a Master Promissory Note as their agreement to borrow the loan.


Private/Alternative Student Loans
Some students find that they need additional funds to meet their costs while attending school. One option available to students would be an Alternative Student Loan. Alternative Loans are nonfederal educational loans available from a variety of national lending institutions. These loans require that the borrower be credit worthy or have a credit worthy cosigner, as they go through a normal bank credit process. You can find more information about Private or Alternative Loans by clicking here: Applying for a Private Loan. Students may start the application process for these loans here. Please note that these loans take up to six weeks to process.


Additional Private Loan Information
For additional information on private loans, including repayment information and options to consolidate your private loans, please click here.