Loans for Graduate Students

Loan requirements and application process

Loans are granted by the federal government to degree-seeking students who complete the FAFSA and are enrolled at least half-time. You will be awarded a loan based on the information you provide on the FAFSA, including enrollment status and living arrangements.

Applying for a Direct Stafford Loan

To see if you qualify for a loan, follow the steps below:

  1. Complete your FAFSA by the priority deadline of February 1st
    We recommend that you complete the application at least two to three weeks before February 1st to be considered for maximum aid.
  2. Review your Student Aid Report after submitting your FAFSA and correct any errors
  3. Access your award letter through My Missouri State to accept or decline your aid
    Your award letter will be posted in January if you are a first year student and after grades are posted if you are a current student.
  4. Complete your Master Promissory Note and Entrance Counseling
  5. Maintain Satisfactory Academic Progress to remain eligible for future aid

Types of loans for graduate students

Loan terminology

Origination fee

An “origination fee” of no more than one percent of the principal is charged for direct loans according to the regulations governing the programs. The fee is deducted proportionately from each payment before the loan funds are disbursed to the school to offset the cost of the loan programs.  You are still responsible for repaying the full value of the loan before the fee is paid.

Master promissory note

The Master Promissory Note (MPN) is a legal document completed by the student only promising to repay their loans and any accrued interest and fees to the federal Department of Education. It also explains the terms and conditions of student loans.

In most cases, one MPN can be used for loans received over several years of study. The MPN must be completed online.