Loans & Assistance
If a student experiences financial difficulty, he or she may apply for a loan. The Graduate School can grant loans only to cover the cost of attendance (pdf) and for essential purposes. Expenses such as car payments or vacation travel are not usually considered essential.
Contingency loans are designed to assist students in coping with unexpected financial emergencies. They are short-term loans ($500 limit) that are repayable by the end of the spring term in any given academic year, usually by deduction from stipend checks.
Long-term education loans, payable after departure from the Graduate School, are intended to help students cover their cost of education during the academic year if resources prove inadequate. Long-term loans under the Federal Stafford Loan Program, for up to $8,500 subsidized, $12,000 unsubsidized and up to $8,000 under the Perkins Loan Program, are available only to eligible U.S. citizens and permanent residents.
Graduate students may also borrow up to the cost of attendance less student financial aid under the PLUS and/or NJClass for graduate/professional students loan programs. Alternative Student Loans are available as a last resort after all borrowing options have been considered. The brochure "Financing Options for Graduate Students (pdf)" provides more information about these various loan options.
Students in science and engineering who intend to pursue teaching careers may also be eligible for up to $3,000 under the Ford Foundation Engineering Loan Program.
International students are eligible for short-term loans and the Ford Foundation Loan Program, and may qualify for alternative loans.