Financial aid not covered by Princeton support, external fellowships, assistance programs or through SAFE will be in the form of educational loans. Students may want to check with their department to see what, if any, assistance is available. This information covers other loan topics such as satisfactory academic progress requirements, method and frequency of financial aid disbursements, conditions and terms of financial aid and employment options, how to notify the office of external fellowship, private/alternative educational loans, exit loan counseling requirements. Terms of educational loans can be found with the loan service provider. Assistance Available from Federal, State, Local, and Institutional Programs Types of Aid Federal Direct Unsubsidized Loans: This federal loan program is awarded to graduate students who are U.S. citizens or eligible non-citizens. Students must have a valid the Free Application for Federal Student Aid (FAFSA) to be considered. Princeton determines the amount you can borrow based on your cost of attendance and other financial aid you receive.Federal Direct PLUS Loan: This federal loan programis awarded to graduate students who are U.S. citizens or eligible non-citizens. Students must have a valid FAFSA to be considered. Princeton determines the amount you can borrow based on your cost of attendance and other financial aid you receive.Princeton University Support for Ph.D. Students: Princeton’s full-funding guarantee ensures total support for all Ph.D. students throughout regular program enrollment. This includes tuition and stipend support from fellowships, assistantships, and external sources. Please visit the Ph.D. Funding: Humanities & Social Sciences and Ph.D. Funding: Social Sciences & Engineering for more information. Princeton University Support for Master’s Students: In general, the Graduate School does not provide central funding for master’s candidates. However, certain academic departments do provide partial or full funding to master's students. Please visit Master’s Degree Funding for more information. Veterans Benefits: Information regarding education benefits for veterans and their dependents can be found on the Military-Connected Students page.External Fellowships: External fellowships are funded by individual companies, organizations, etc., and can be need-based or non-need-based. Students typically apply for these funds on their own. Tuition benefits from employers also fall under the external funding category. Please visit the External Fellowships web page for information regarding Princeton's external fellowship policy.Student Employment: Information regarding student employment and the Federal Work Study program can be found on the Graduate School’s Student Employment site.State and Local Aid: State and local aid programs are geared towards students pursuing their undergraduate degree. Enrollment Impact of Leave of Absence and End of Enrollment on Financial Aid Students must meet with their department to complete the formal leave of absence process. We encourage students to also review the Leave of Absence policy for information regarding taking a leave.When a student on aid takes a leave, the Graduate School is notified after the leave becomes effective. At that time, the student’s financial aid will be adjusted based on the prorated charges on the bill and the number of weeks the student was enrolled. If a student takes a leave effective before the fall semester or between the fall and spring semesters, the aid for the upcoming academic year or semester will be completely removed and the student will not be billed.Educational loan applications that are received after a leave becomes effective cannot be processed. Bill AdjustmentsTuition is prorated based on the number of months a student is enrolled during the academic year. Dorm style housing and dining plans are adjusted based on the number of weeks that the student was on campus for the semester. Rent is prorated so they only pay for the days the renter is on campus. Please be in touch with your contact in the Housing Office for more information. Student Health Plan is prorated by University Health Services based on the number of months that the student was enrolled.If students have borrowed loans at any point while attending Princeton, the loans will enter the grace period while students are on leave. Once the grace period is over, the loans may enter repayment. Please check with your lender regarding payment arrangements or putting the loan in forbearance. Once students are reenrolled, the loans will go back into deferment. Students should be in touch with the Registrar’s Office to ensure their service provider is aware of their reenrollment status. Impact on Federal Financial AidU.S. Department of Education regulations dictate that eligibility for federal student aid be recalculated when students withdraw from all courses during a semester, either officially or unofficially. An official withdrawal is when students notify Princeton of their intent to withdraw or take a leave of absence and an official plan is put into place. An unofficial withdrawal is when students stop attending all courses in a semester and do not provide any other form of notification.If students with federal loans or grants withdraw prior to completing 60% of the semester, federal regulations require Princeton to perform a calculation to determine the amount of federal student aid funds that need to be returned to the U.S. Department of Education. Students that withdraw after completing 60% or more of a semester are considered to have earned 100% of their federal financial aid.The federal effective date is determined by the date a student begins the withdrawal process laid out by the college for an official withdrawal. The federal effective date for an unofficial withdrawal is the midpoint of the semester, or 50%. The only time the midpoint would not be used is if the college has a method of determining if a student attended beyond the midpoint.A federal effective date is needed because federal aid is earned each day of the semester until the federal effective date. The total number of days in the semester are the calendar days starting with the first day of classes and ending on the last day of finals. Any breaks of five days or more, weekends included, are subtracted from the total number of days in the term. To determine the percentage of aid students have earned, the office of financial aid divides the days leading up to withdrawal by the number of days in the semester. The remaining aid is considered unearned and must be sent back to the U.S. Department of Education.Federal student aid must be returned to the U.S. Department of Education in this order:Unsubsidized federal Direct LoanFederal PLUS LoansIraq and Afghanistan Service GrantsFederal Supplemental Education Opportunity Grant (FSEOG)TEACH GrantsThe funds must be returned as soon as possible but no later than 45 days after the date of withdrawal. The returning of funds may result in a balance on the accounts of the withdrawn students. Students who choose to withdraw are responsible for any balance on their account after the return of federal aid.If it is determined that a student earned more aid than was disbursed at the time of withdrawal, the student may be eligible for a post-withdrawal disbursement (PWD). PWD grant funds are paid automatically, but students will be contacted via email and have 14 days to respond and accept or decline any loan funds. Returning from a LeaveWhen students are preparing to return to Princeton, they should be in touch with their department and apply for financial aid if needed. Financial aid decisions will be distributed prior to the start of the semester. International students who need visas will receive their decisions prior to their appointments.Taking a voluntary leave of absence has no bearing on a student’s eligibility to qualify for grant aid. If you have any questions, please contact our office. Satisfactory Academic Progress Requirements Graduate Financial Aid Satisfactory Academic Progress According to federal regulations, the Graduate School must confirm that students are meeting minimum eligibility requirements to receive Federal Student Aid (FSA) funds. The Graduate School performs this review at the end of each semester.Please see the Graduate School’s Satisfactory Academic Process policy and be in touch with your department. Students that are not meeting all of Princeton’s requirements will lose Federal Student Aid eligibility (federal grants, loans, and work study) until the requirements are met again. Graduate Student Status and NotificationStudents on aid whose status changes after the review will also receive an email notification letting them know about the change in their financial aid status. Exit Counseling for Student Borrowers Exit counseling for federal student loans is required when a student graduates or withdraws from the university. It informs students of their rights and responsibilities as a borrower regarding federal loan repayment. Federal Verification Compliance Verification Compliance Federal verification is the process that ensures the information submitted on the FAFSA (Free Application for Federal Student Aid) is accurate. If your FAFSA is selected for verification by the Department of Education, the Graduate School will email you to request documentation and compare this information to your FAFSA. Documentation may include a verification worksheet, tax information, Statement of Education Purpose Form, government-issued ID, etc. If discrepancies are found, our office will need to process a FAFSA correction. This may result in a change to your federal financial aid amount. You will receive an email if a correction is needed or if there is a change to your financial aid amounts. If your FAFSA is selected for verification, please respond to the financial aid administrator in a timely manner. Students are encouraged to submit documentation through their student portal within two weeks of the request. Delays in documentation can result in ineligibility for federal aid. Please contact our office at [email protected] for verification questions. If there is reason to believe a student, employee, or other individual has misreported information or altered documentation to fraudulently obtain federal aid, suspicions will be reported to the Office of Inspector General (OIG), along with the any related evidence. Initial Loan Counseling for Student Borrowers Master Promissory Note (MPN) Borrowers of federal loans are required to sign a promissory note. Signing a promissory note informs the lender that the borrower will repay the loan and any interest accrued. The promissory note also includes imperative information regarding the terms of the loan and the rights and responsibilities of the borrower. The MPN is only signed the first time the loan is borrowed. Entrance Counseling Required by the federal government, entrance counseling explains the importance of repaying loan debt and being a responsible borrower. Entrance Counseling can be completed online and is only required the first time the loan is borrowed. Method & Frequency of Disbursements All financial aid funds are typically split between the fall and spring semester unless otherwise noted by the Graduate School. Disbursements occur when eligibility has been confirmed, an aid decision has been sent to the student and the student has accepted their offer. Federal aid is applied no earlier than 10 days prior to a semester. Disbursements are applied to the student account/bill and any excess funds can be requested as a refund. Students may use financial aid refunds, Paw Points, and their student account to purchase textbooks. For more information on textbook purchases, visit Online Bookstore. Receipt of External Support All outside/third-party fellowships (including tuition benefits, ROTC, etc.) must be reported to the Graduate School. The funding policy regarding external fellowships varies by division and by the value of the award. Please complete the external fellowship form to report scholarship and donor information. Third-party fellowships and requirements to disclose funding sources Fellowships, employee tuition benefits, and any other financial aid awarded to you by organizations outside the University are considered financial assistance for your cost of attendance at the University. Under federal and institutional rules, such amounts are deemed to be used to meet your financial need, and you are required to report such financial assistance to the Graduate School so that your financial support is properly coordinated. Such assistance does reduce any educational loan for which you may be eligible.In accordance with U.S. Department of Education rules, the Graduate School treats third-party fellowships and other financial aid as “estimated financial assistance” which must be included in determining a student’s loan eligibility. Outside fellowship and financial aid sources include, but are not limited to, private non-profit organizations, government agencies, civic organizations, and business entities.The University offers federal and institutional need-based aid only after considering all financial assistance from third parties and expected family contribution. Failure to disclose all outside funding sources to the Graduate School may result in disciplinary action; this failure to report would result in the receipt of University aid for which, according to Princeton’s policies, you would not be otherwise eligible.Contact our office if you have questions about your eligibility. Students searching for outside fellowships may wish to visit our external fellowship page.