Graduate Programs

Financial Resources: Federal Financial Aid Programs

"Cal State Fullerton's online master's program provides the flexibility necessary for today's busy executives to earn a degree in information technology. The course helps executive management bridge the gap between business needs, application development, system support requirements, and ongoing application/system support. I can now make more knowledgeable and informed information technology decisions leading to more efficient and cost-effective operations." -- Alan Cseresznyak
Vice President, Finance & Information Technology, Toyota Materials Handling, U.S.A., Inc.

Federal aid programs provide over 73 percent of the funding currently available for student financial aid. The following are the primary federal programs through which CSU students receive aid.

Federal Work-Study Program (FWS)
Provides both on- and off-campus jobs for eligible undergraduate and graduate students through private or public nonprofit organizations, local school districts, and other local, state, or federal agencies. Private sector employers may hire work-study students if the employers provide jobs related to a student's course of study or career objective. A portion of FWS funds is also dedicated to promoting community service on the part of students.

Federal Perkins Loan
Provides low-interest loans for eligible undergraduate and graduate students with preference to students with exceptional financial need. The annual loan limit is $5,500 for undergraduate students and $8,000 for graduate students. The aggregate loan limits are $27,000 for undergraduate students pursuing a bachelor's degree and $60,000 combined for undergraduate/graduate or professional study.

Federal Family Education Loan Program (FFELP) and William D. Ford Federal Direct Student Loan Program (Direct)
Campuses typically participate in the federal loan programs either through the FFELP or the Direct loan program. The primary difference between the programs is that funding for FFELP loans is obtained from private lenders such as banks, credit unions, and savings and loan associations and guaranteed by the federal government through various guaranty agencies while funding for Direct loans is obtained directly from the Department of Education with funding from the U.S. Treasury.

Both FFELP and the Federal Direct Student Loan Program provide the same types of loans, which are:

Federal Stafford Unsubsidized Loan
Provides long-term, low-interest loans for eligible undergraduate and graduate students who generally do not qualify for other need-based financial assistance or students who need loan assistance beyond the maximums provided by the subsidized loan program. Graduate students may borrow up to $20,500 in unsubsidized loans per year. The student pays all interest charges on the loan while enrolled in college. The combined aggregate of the Stafford Subsidized Loan and the Stafford Unsubsidized Loan is $138,500 for combined undergraduate/graduate.

The Department of Education's Student Guide provides more comprehensive descriptions of these programs.

Content Contact:
Tarita Varner

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Last Update: July 06, 2016