Need-Based Aid
Tuition/Student BudgetNeed-Based Financial AidMerit-Based Financial Aid
Loans and Work Study
The Office of Student Financial Services (OSFS) assists U.S. citizens and Permanent Residents whose personal and family resources are not adequate to cover the expenses involved in attending the UW-Madison. Eligibility for Federal Work-Study and the Subsidized Stafford Loan is based on financial need as calculated by the OSFS. Students who do not receive the amount they need through either of these programs can apply for the Federal Unsubsidized Stafford Loan. There is no deadline for federal financial aid. However, students should apply as early as possible to assure a timely response by OSFS.
Application for Work-Study and Stafford Loans
Applicants who check "yes" to loans and work-study on the Application for Admission are automatically sent information by OSFS. Only U.S. citizens and Permanent Residents are eligible. To apply for work-study and/or Federal Stafford Loans (subsidized and unsubsidized), will need to submit a Free Application for Federal Student Aid (FAFSA) to the federal processor. New for 2007-2008, you will not be required to submit a federal tax form when you apply. For more information on the application process, please refer to OSFS.
Stafford Loans
Subsidized: Graduate students may borrow up to $8,500 per year through the Federal Subsidized Stafford Loan to a cumulative maximum of $65,500 for undergraduate and graduate years combined. The interest rate is variable and set annually with a cap of 8.25% for new borrowers. Neither interest nor principal payments begin until the borrower leaves school or is no longer enrolled at least half-time.
Unsubsidized: Graduate students may borrow an additional $12,000 per year through the Federal Unsubsidized Stafford Loan. The interest rate is variable and set annually with a cap of 8.25% for new borrowers. Principal payments do not begin until the borrower leaves school or is no longer enrolled at least half-time. However, the student must choose to either begin interest payments immediately or to defer the interest payments, in which case the interest would accrue while the student is in school.
Private Loans
The MBA Loans Program is a private lender through Sallie Mae. The MBA Loans Program provides graduate business students with a comprehensive, affordable source of funds designed to meet all of your education financing needs. To learn more about MBA Loans, please visit www.salliemae.com/mbaloans.
Global Student Loan
The Global Student Loan Corporation (GSLC) provides an education loan for international students that does not require a U.S. co-signer. The Global Student Loan covers the complete cost of attending school, such as tuition, student fees, books, housing, transportation, and computer costs. To learn more about GSLC, please visit www.globalslc.com.