 TITLE: How to Pay for Grad School CONTENT: See if You Qualify for Federal Student Loans\n--------------------------------------------\nAccording to recent data from Sallie Mae, 77% of graduate students paid for school, at least in part, by borrowing. If you expect you'll need help covering the costs of your education, start by seeing if you qualify for federal student loans. Unlike private student loans, federal loans have uniform interest rates, terms and conditions. They also have more flexible payment options, such as the potential for loan forgiveness or the ability to defer payments in case of financial hardship.\nTo be considered for federal student loans, you'll need to complete and submit the Free Application for Federal Student Aid (FAFSA). You must also meet certain criteria, including being a U.S. citizen or eligible non-citizen, having a Social Security number and being enrolled at least half-time in an eligible degree program. Federal student loans for graduate students include:\n*   **Federal direct unsubsidized loans**: Interest on unsubsidized loans accrues while you are attending school, but you don't have to begin to repay your loans until after you leave school. You can choose to repay the interest during school, but if you don't, it is added to your principal when you graduate and begin repaying the loan. You can borrow up to $20,500 annually.\n*   **Federal direct graduate PLUS loans**: If you need to borrow more than the maximum available through a federal direct unsubsidized loan, you can apply for a PLUS loan. Unlike federal direct unsubsidized loans, these require a credit check. However, the credit check doesn't consider your credit score; it simply looks for any adverse credit history. You can borrow up to the cost of attendance (as determined by the school) minus any other financial aid you're receiving.\n*   **School-funded aid**: Many schools offer assistance with graduate school costs. Check with the schools and degree programs you're considering to see what types of student loans or financial aid are available.\n*   **State aid**: Your state may have graduate student aid or loan programs. Visit the U.S. Department of Education website for links to resources for your state. END