Financial aid for U.S. graduate students at Canisius University is available through several financial aid programs. They include federal, state and private sources. The financial aid year at Canisius University begins with the summer semester and ends with the spring semester.
Free Application For Federal Student Aid (FAFSA)
All U.S. applicants should first fill out a Free Application for Federal Student Aid (FAFSA) online. The FAFSA gathers your basic information which is then used to determine your eligiblity for ALL financial assistance available from the federal government.
What To Remember
- The Canisius University Title IV code is 002681.
- The Financial Aid office will receive an electronic copy of your FAFSA information and provide you with notification when the evaluation is complete.
- Be sure to inform the Financial Aid office of the number of credits you expect to take each semester
Teacher Education Assistance for College and Higher Education (TEACH) is a grant funded by the federal government to encourage students to become highly qualified teachers in high-need subject areas to low-income students. Undergraduate and graduate students who are U.S. citizens or eligible non-citizens may be eligible for this grant. Grants of up to $4,000 per year may be awarded to eligible recipients who agree to a teaching commitment of four years in a specified subject. A FAFSA must be completed to be considered. Failure to complete the commitment will result in a conversion of the grant to a loan payable with interest accrued from the time of the award disbursement.
New York State (NYS) Math & Science Teaching Incentive Program- Graduate students wishing to teach secondary math or science may be eligible to receive scholarship funding through the NYS Math and Science Teaching Incentive Program. Recipients may receive a one-year award with a maximum of $4,350 in exchange for a commitment of 5 years of math and science teaching in New York State.
There are two types of federal loans for graduate students. While both are funded by the federal government, there are differences in interest rate, and how much you can borrow from each.
- Federal Direct Unsubsidized Loans
- Federal Direct Graduate PLUS Loans
You can apply for both loans by completing the FAFSA at the link below. Based on the information you submit, the cost of attendance, and the amount of other financial aid you’re receiving, your graduate school will determine how much you can borrow.
Federal Direct Loans (also known as “Stafford Loans”) aren’t based on financial need, and you’re responsible for paying all the loan’s interest. To get a Federal Direct Loan, you must be enrolled at least part-time (4.5 cr hrs) at an eligible school taking part in a program leading to a graduate or professional degree, or a certificate.
If you need additional aid beyond your Federal Direct Loans, Direct Graduate PLUS Loans can help cover your graduate school costs. To get PLUS Loans, you must be enrolled at least half-time at an eligible school taking part in a program leading to a graduate or professional degree, or a certificate.
Should you need to borrow additional funds beyond federal loan programs, you may wish to consider a private education loan. It is your responsibility to research these options to find the one best suited to your needs. Be sure to review interest rate, fees and special features. Be aware that each lender performs its own credit check and multiple checks can affect your credit score. You should opt for a loan that has no prepayment penalty and is deferred until graduation. Most importantly, borrow conservatively.
All lenders are required to provide you with a copy of their Private Loan Application Disclosure form prior to disbursement of funds. Keep in mind that you are free to choose any lender you wish without penalty or undue delay in processing. Upon request, Canisius can recommend a list of lenders that have been vetted based on quality of service and issue resolution.