The process for applying for financial aid is the same for graduate students as for undergraduate students. Graduate loans are available for those participating in a graduate program. Please visit the WSU Financial Aid website for more information on application deadlines and interest rates.

Federal Perkins Loans
These are low-interest loans for undergraduate and graduate students. The interest rate is fixed at 5 percent throughout the life of the loan. To qualify, you must have exceptional financial need. For undergraduate programs, you can borrow up to $4,000 per year, and for graduate programs, up to $6,000 per year. Perkins Loans are made through the WSU financial aid office. The loan is made with government funds, but the university is the lender and repayment is made to WSU. The amount of your monthly payment will depend on the size of your debt and the length of your repayment period. You have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment.

Federal Subsidized Stafford Loan
This is a loan and must be repaid. It is awarded on the basis of financial need. The funds for your loan are lent to you from a private lender (a bank, credit union, etc). You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government pays the interest during these periods.

Federal Unsubsidized Stafford Loan
This is a loan and must be repaid. It is available to any student. You will be responsible for interest payments during the life of the loan.

Graduate or Professional PLUS loans (GPLUS)  Beginning July 1, 2006, graduate or professional students are now eligible to borrow under the PLUS loan program up to their cost of attendance minus other estimated financial assistance. The terms and conditions include; a determination that the applicant does not have an adverse credit history, repayment begins on the date of the last disbursement of the loan, a fixed interest rate of 8.5 percent. All applicants' are reqired to complete the Free Application for Federal Student Aid (FAFSA) for eligibility determination. Requests for this loan type can be made by submitting a completed Student Loan Supplement form which is available under the 'Supplemental Forms' link on this web site. 

Alternative Loans                                                                                                                Alternative loans are direct loans from participating banks for the purpose of helping supplement educational costs not covered by federal or state financial aid programs. Alternative loans allow you to borrow additional money if you have reached your Stafford loan limit or if you no longer qualify for federal financial aid.