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Financial aid is available for graduate students. Champlain College participates in the Federal Student Loan program. This program enables students to borrow federal funds to help meet educational costs.
If you are eligible for aid, your package could consist of a combination of Subsidized Stafford Loans and Unsubsidized Stafford Loans, depending on your financial need. The maximum loan eligibility for these loan programs is a total of $20,500 per year ($8,500 subsidized and $12,000 unsubsidized). Subsidized loans do not accrue interest while you are enrolled and for a six-month grace period after enrollment has ended. Unsubsidized loans accrue interest upon disbursement.
If you have financial need beyond $20,500 you may apply for a Grad PLUS loan up to the total amount of your financial aid budget. Your financial aid budget includes costs for tuition, room, board, books, transportation and some miscellaneous expenses.
Alternative Loans are offered by lending institutions for educational expenses. These loans are not guaranteed student loans, which means each lender has varying credit approval criteria that must be met by you, when applying for the loan.
Applying for financial aid is a separate process from applying for admission. Although graduate students will not be awarded financial aid until after they have been formally accepted, we encourage students to apply for financial aid as soon as possible. Most students apply for financial aid in tandem with their application for admission. Please do not wait to be accepted to apply for financial aid.
To be considered for the Federal Stafford Loan and Grad PLUS programs noted above, you must complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov. Please be sure to enter Champlain College’s school code number (003684) on the FAFSA. Upon completion, you will receive a Student Aid Report (SAR) from the federal processor. Please review your SAR carefully and follow all next steps indicated.
To apply for both Grad PLUS and Alternative Loans, contact a lender of your choice. They will walk you through their loan application process.
For additional assistance, please contact a member of our financial aid counseling team at (802) 860-2730.