Tuition for 2013-2014 is $920 per unit, payable 30 days prior to the beginning of each term, i.e. in August, December and April.
You have many important decisions to make at this time, and one of those decisions is how you will finance your education. Higher education is an important investment in your future career. Be sure to review your options and determine what the best choice is for you.
There are two types of federal student loans available to graduate students through the William D. Ford Direct Loan Program administered by the U.S. Department of Education. The two programs are:
- Direct Unsubsidized Loan (5.41% fixed) and
- Direct Graduate PLUS Loan (6.41% fixed)
Federal student loans are intended to help students pay for the cost of their education, including living expenses. Eligible students borrow directly from the U.S. Department of Education. The funds are transmitted to the Institute and posted to the student's account.
To determine eligibility, all students interested in any financial aid program must complete a form each academic year called the FAFSA (Free Application for Federal Student Aid) available online at http://www.fafsa.ed.gov.
In addition to the FAFSA, students complete forms for the school. Click here to view the Wright Institute FINANCIAL AID FORMS and instructions.
Direct Unsubsidized Loans:
The current interest rate is fixed at 5.41% and starts accruing from the time the loan is disbursed. You can choose to pay the interest while you are in school or let it to accrue and be capitalized. Capitalizing the interest will increase the amount you have to repay.
Direct Graduate PLUS Loan:
In addition to the Unsubsidized Loan, the Department of Education offers a Direct Federal Graduate PLUS loan. This loan can be borrowed to cover additional educational and living expenses.
The Graduate PLUS loan is subject to credit approval by the Department of Education and has a fixed interest rate of 6.41%. The interest starts accruing after the first disbursement of the loan.
This is a low-interest (5%) loan for students with exceptional financial need. Federal Perkins loans are made through the Financial Aid Office. The Wright Institute is the lender and the loan is funded by the government. These funds are limited and subject to availability.
Federal Work-Study Program:
Although work-study is not a loan, it is also a Federal Financial Aid program. FWS provides financial assistance through employment at the Wright Institute and other approved nonprofit agencies. Student wages are paid by the federal funds which are matched by the employer. Per federal regulations, students who are awarded FWS are limited to an average of twenty hours per week during the academic year and forty hours per week during approved periods when classes are not in session. In practice, students generally work on average between five and eight hours per week. The amount of FWS offered reflects both financial need and a reasonable projection of possible earnings at a rate of pay commensurate with the student's skills and experience. These funds are also limited by availability.
The Wright Institute Scholarship:
The Wright Institute is proud to offer its own scholarship to students with financial need as determined by FAFSA and the school's budget. All students are encouraged to apply. The Wright Scholarship is awarded at the end of a year and the link to application as well as hard copies of application will become available around that time.
For additional information on Federal Student Loans please visit: www.studentaid.ed.gov
|Some Scholarship Information:||Loan Information Websites:
Loan information for international students:
If you have questions about Financial Aid please feel free to contact Julia Kalyayeva, Financial Aid Advisor.
phone: 510-841-9230 ext.137