Financial Aid

Student Financial Assistance
Student financial assistance for graduate and professional students through the Office of Admission and Student Financial Assistance at the University of Hartford consists of the Federal Family Education Loan programs and supplemental loan programs. Students must meet all eligibility requirements as established by the U.S. Department of Education.

Federal Family Education Loan (FFEL) Programs
To determine eligibility for the FFEL programs, the U.S. Department of Education uses a standard formula (Federal Need Analysis Methodology), which is established by Congress. Federal Methodology evaluates the information the student reports on the Free Application for Federal Student Aid (FAFSA). The results of that analysis (Expected Family Contribution or EFC) are summarized on the Student Aid Report (SAR). The SAR is forwarded directly to the student by the U.S. Department of Education’s Central Processing System (CPS). The verified EFC must be used in determining the student’s eligibility for all FFEL programs.

Students currently receiving federal student financial assistance should submit the Renewal FAFSA application or a standard FAFSA application. Students who are not currently enrolled and wish to apply for the FFEL programs must submit the FAFSA application. Graduate and professional students are encouraged to apply at least six week prior to the term for which they wish to be considered for financial aid. Students must also submit the University of Hartford Graduate Student Financial Aid Form.

Federal Stafford Loan
The Federal Stafford Loan is a low-interest educational loan and must be repaid. Students participating in the subsidized or unsubsidized Federal Stafford Loan program must make their loans through a lender participating in this loan program. Typically, lenders include banks, savings and loan associations, credit unions, or other financial institutions. These loans are backed by the federal government and insured through a state or national guarantee agency.

Graduate and professional students may borrow up to $20,500 per academic year. Eligibility for annual loan limits are contingent upon the student’s cost of attendance and other financial aid awarded.

Federal regulations require the lender or guarantee agency to forward the proceeds of the loan directly to the University in multiple disbursements (usually one disbursement for the fall term and one for the spring term). First-time borrowers at the University must also complete an entrance interview requirement and master promissory note; all borrowers must complete an exit interview requirement.

The interest rate for borrowers will be a variable annual rate. The new variable loan rate is effective July 1. The minimum annual payment on a subsidized or unsubsidized Federal Stafford Loan is $600; the maximum loan repayment period is 10 years.

Federal regulations allow a fee up to 4% to be deducted proportionately from each disbursement of the loan. The net amount of the loan is forwarded directly to the University.

Subsidized Loan
If the student is eligible for a need-based subsidized Federal Stafford Loan, interest on the loan is paid by the Federal Government and principal is deferred while the student is enrolled at least half-time and during the six-month grace period following graduation.

Unsubsidized Loan
If the student is not eligible for a need-based subsidized Federal Stafford Loan, or if the annual loan limit of the Federal Stafford Loan has not been reached, the student may be eligible for the unsubsidized loan.

Interest is the responsibility of the student from the date of disbursement. The student may opt to begin repayment of principal and interest, make interest-only payments, or defer both principal and interest payments while enrolled at least half-time. If the student defers principal and interest payments, the interest will continue to accrue and will be added to the principal (or capitalized).

Time-Payment Plan
The University offers a time-payment plan through Sallie Mae called TuitionPay. This interst-free payment allows you to pay your tuition bill over a number of months. Additional information

Supplemental Loan Programs
Students are encouraged to apply for the Federal Family Education Loan (FFEL) programs first. FFEL loans generally have more borrower benefits and are easier to qualify for. However, if a student has not exceeded the estimated cost of attendance and needs to borrow additional funds, a variety of supplemental loan programs are available. The student should contact the Office of Admission and Student Financial Assistance for further information.

Assistantships and Fellowships
Students are encouraged to contact the Office of the Dean of their respective school or college at the University of Hartford regarding the availability of assistantships or fellowships in their specific programs of study.

Student Consumer Information
The University of Hartford conforms to the Student Consumer Information requirements established by the U.S. Department of Education. The Director of Student Financial Assistance and other staff members are the individuals designated under those requirements to assist students in obtaining information regarding financial assistance.
Under certain circumstances, the Internal Revenue Service may consider a portion of grants, scholarships, fellowships and assistantships to be taxable income. A tax professional should be consulted for guidance on this matter.