Financing

One of the most pressing issues for many graduate students is financing your education. You can begin the process of applying for financial aid before being admitted into the MSHRM for Professionals program, but no aid will be awarded until after you are admitted. Financial aid can be used to pay partial or full program costs.

For additional information or questions regarding financial aid, including veteran’s resources, please contact the Texas A&M Office of Scholarships & Financial Aid.

Sources of Financial Aid

MSHRM for Professionals participants are eligible to apply for three types of financial aid through the Texas A&M Scholarships & Financial Aid Office.

FEDERAL DIRECT LOANS

The William D. Ford Federal (Direct) Loan Program is provided and administered by the U.S. Department of Education. Students can borrow up to $20,500 per academic year. The most up-to-date information about interest rates is found here. Repayment begins 6 months after graduation or dropping below half-time enrollment. The maximum lifetime borrowing limit is $138,500 (including undergraduate amounts) in this program which was formerly referred to as the Federal Stafford Loan.

FEDERAL DIRECT GRADUATE PLUS LOAN

The William D. Ford Federal (Direct) Graduate PLUS Loan Program allows graduate students to borrow up to the total cost of attendance (minus other aid). Approval for this type of loan is based on a credit screening process. The most up-to-date information about interest rates is found here, with repayment beginning 6 months after graduation or dropping below half-time status.

ALTERNATIVE LOANS

Alternative (private) loans are administered by private lending institutions to be used for educational costs. They are not part of the federal student loan programs, may carry higher interest, and should be used when other options have been exhausted. Texas A&M Scholarships and Financial Aid maintains a lender list for private loan options.

HOW TO APPLY FOR FINANCIAL AID

  1. Create an FSA ID:the FSA ID is used to confirm your identity when accessing your financial aid information and electronically signing your federal student aid documents.
  2. Complete the FAFSA online:he FAFSA is available beginning on October 1 and should be completed as soon as possible. The priority deadline for FAFSA submission is March 15. The FAFSA may be completed during the admissions process, but financial aid will not be awarded until program admission. The school code on the FAFSA for Texas A&M University is 003632.
  3. After May 17, if FAFSA is complete, apply for the Direct Grad PLUS loan.
  4. Apply for alternative loans:Further funding can be accessed through alternative loans from private lending institutions to cover additional costs. Texas A&M maintains an alternative loan lender list. International students who are not permanent residents are not eligible for federal loans. However, international students can apply for alternative loans through a private lending institution. This may require a creditworthy, U.S. citizen co-signer.
  5. Complete Master Promissory Note (MPN) for each loan type.

DOCUMENTS REQUIRED TO COMPLETE THE FAFSA

  • Social Security number
  • Driver’s license
  • W-2 and 1099 wage forms
  • Federal Income Tax Return
  • IRS 1040, 1040A, 1040 EZ
  • Foreign Tax Return
  • Veterans benefits
  • Current bank balances
  • Current business net worth
  • Farm/ranch net worth (if you have more than 100 employees)
  • Investment net worth (not including retirement plan accounts, such as a 401K, 403B or annuity)