Financial Aid
When you consider the availability of financial aid and our competitive tuition rates, you will understand why St. Bonaventure University Online is a decision you can afford to make.
Federal Direct Stafford Loans for Graduate Students
The Federal Direct Loan program allows graduate students to borrow up to $20,500 a year without demonstrating financial need. Applicants must file the FAFSA (note: grad students file as independent) and SBU's Student Loan Request. Graduate Stafford loans are not eligible for subsidized interest. This means that interest on the loan principal will accrue while the grad student is enrolled. The interest rate on the Graduate Stafford loan is 5.84 percent at this time. Loan repayment begins six months after the borrower ceases study or drops below half-time status. Stafford Loan proceeds are paid through a student’s school in two or more installments and are first applied against tuition and fees, room, board and related school charges. If loan money is left over, this is refunded to the student.
Federal Direct PLUS Loans for Graduate Students
Students may borrow up to the total amount needed to pay for graduate school tuition, room and board (on campus or off campus) books, fees and other educational expenses - less any pending financial aid. Applicants must file the Free Application for Federal Student Aid (FAFSA) and apply for their maximum Federal Direct Loans before the Federal Direct PLUS Loan can be borrowed. Most applicants are eligible for the PLUS – note that a basic credit check is required for this loan.
Alternative Loans
For students who do not qualify to borrow federal student loans, an Alternative educational loan may be a good option. Unlike federal loans, Alternative loans do not require half-time attendance to qualify. A student taking just one course per term may qualify for an Alternative Loan.
Alternative loans are available to students through various major lenders. Most Alternative loans have variable interest rates. Depending on the lender, the interest rate is usually based on Libor or Prime rates and may change monthly or quarterly. Interest on the loan begins accruing after the first disbursement. Many lenders defer interest payments while the student is in school, although some lenders require interest payments. When possible, we recommend the student pay accrued interest while in school and during the six-month grace period.
Students may need a credit worthy co-signer to improve their chances of being approved. With a co-signer, students may receive a lower interest rate which means less interest will be paid over the life of the loan. A co-signer can be a parent, guardian, or relative who has established a good credit history, has a steady income, and the ability to repay the loan if the student is unable. Before borrowing an Alternative loan, the student and co-signer should understand that the loan is in both the student’s and the co-signer’s name. If the student cannot make payments on the loan, the co-signer is fully responsible for repaying the loan.
You may apply for an alternative loan through any lender you choose. If you do not have a lender in mind, we offer a list of lender options. When choosing a lender, remember to review back end borrower and repayment benefits, whether the loan will be sold after disbursement, and who will service the loan after disbursement and while in repayment.
Click here to view the list of lenders provided by www.elmselect.com.
Graduate Assistantship
The School of Graduate Studies at St. Bonaventure University offers a limited number of assistantship grants for an academic year. Assistantships are available for online graduate programs and can provide a partial waiver of tuition in exchange for a specified amount of work. Graduate assistants are utilized by a variety of university departments for project management, research projects, administrative support and more.
These part-time assistantships provide a tuition scholarship of up to nine credit hours per year (12 continuous months) for students who take a total of eighteen credit hours and work 300 hours per year. The type of work, schedule and other details are specific to the particular assistantship.
If you're interested, you may apply for an assistantship when you submit your application for admission or at any time during your graduate level study.
For more information and to apply, see Graduate Assistantships under Scholarships & Aid at sbu.edu.
Employer Tuition Benefits
Some employers have tuition reimbursement plans for staff who pursue additional schooling. Department managers and human resource officers are the best sources of information.
Prospanica: The Association of Hispanic MBAs & Business Professionals
This organization provides scholarship support to individuals of Hispanic heritage pursuing MBA degrees at AACSB-accredited colleges and universities (SBU has this accreditation).
Educational benefits received through the Montgomery GI Bill may be applied toward an advanced degree. SBU is also a Yellow Ribbon school.
Private Scholarships
Some students find private scholarships to supplement their financial aid and cover remaining costs. To find scholarship sources, we recommend checking these websites:
I certainly could have done self-study and pursued a certification in one or more of the cybersecurity disciplines, but one of the components of education that I really value is interaction. I learn more when I talk with other people and share experiences, and the instructors at SBU have emphasized interaction. That's the type of experience I wanted – to learn and form professional relationships.
Scott Russell
Director of Customer Support
MS in Cybersecurity, 2021, Panasas
