FAQs for graduate students
How can I pay for a graduate degree?
How do I get the student loans?
File a FAFSA in January or February of each year, for the next academic year. List Lewis & Clark College (#003197) as a school you authorize to access and download your FAFSA data.
How can I afford to pay the Expected Family Contribution (EFC)?
The EFC figure from your FAFSA will merely determine how much of the need-based federal student loans you are able to borrow. We do not expect you to write a check for this amount, and the reality is that most graduate students will use student loans to cover all or part of their EFC.
Can I receive federal grants?
The Federal Pell Grant is not available to students pursuing graduate degrees and is only available at the undergraduate level.
Can I receive a scholarship from the school?
At Lewis & Clark, it is the Admissions Committee at each school that determines which of the admitted applicants will be offered scholarships from the school, and in what amount. Contact the Admissions Office if you have any questions about your scholarship eligibility. These funds are always limited; submitting a strong application early is one of the best ways to secure gift aid from the school.
Is the Federal Perkins Loan available?
Because these funds are limited, we only consider students who have filed their FAFSA by the priority deadline, then award Perkins Loans to the neediest students within that group. Students who receive gift-aid from the school are not considered for these loans.
When does the Academic Year begin?
At Lewis & Clark, summer is the beginning of our Academic Year, each year. Some of the programs at the Graduate School of Education and Counseling will start with summer enrollment.
When a student is enrolled in all three semesters (summer, fall, and spring), their federal student loans will be evenly split over the three semesters.
When an entering student starts their program enrollment with fall semester, their federal student loans will be evenly split over the fall and spring semesters.
How many credits do I need to take to be eligible for financial aid?
To be eligible for federal financial aid, an applicant needs to be admitted into a degree-seeking program, enroll at least half-time each semester, and make satisfactory academic progress toward their degree.
Lewis & Clark Graduate School of Education and Counseling has defined full-time as enrollment in 6-credits or more each semester. Half-time is at least 3-credits each semester.
To remain eligible for the federal student loans, and to keep all prior federal student loans in an in-school deferment status, our graduate students need to maintain a minimum enrollment of at least 3-credits each semester.
How do I decide how much to borrow?
We estimate your total Cost of Attendance (COA) for each academic year using the typical tuition for a first-year student in your degree program. We also include a monthly living allowance and other allowances for local transportation, books and supplies, and discretionary personal spending. Consider your actual expenses as well as the resources you already have available to help meet those expenses. You may not need to borrow all of the loans you have been offered.
We advise students to borrow the Subsidized Direct Stafford Loan first, the Unsubsidized Direct Stafford Loan second, and then only borrow as much of the Direct Graduate PLUS Loan as you need.
If you will need to borrow for your living expenses, spend some time working on a spending plan to determine your monthly budget for basic expenses such as rent, utilities, and food. Consider ways to cut back on your spending so that you may not need to borrow the maximum student loans offered to you. For example, you may be able to use public transportation or the LC shuttle to cut down commuting costs.
How do I get the portion of my loan money I plan to use for living expenses?
When you receive your financial aid award notification from the college, you will need to decide how much to borrow and then take steps to secure your loans.
If you have completed these steps to secure your loans in a timely manner, we will arrange for the loans to post to your student account at the beginning of each semester. Your student loan funds will be applied as credits against the charges such as tuition, fees, insurance and fines on your student account.
If your student loan funds and other payments exceed your charges, the Student Accounts office will release the excess funds to you, either as a check or electronically to your bank account. You may use these funds for educationally-related expenses including living expenses. Carefully budget this amount to last until your next scheduled loan disbursement.
How do I know how much I will receive for my living expenses?
Your refund check for each semester will be:
Net Loan Disbursement (after loan fees are deducted)
- Tuition (and other charges)
= Excess loan funds to be refunded back to you.
Because federal student loans are split evenly between semesters, if your tuition (and other charges) is higher in one semester than in others, the excess funded to you will be smaller in that semester. It is therefore prudent to estimate your refund check amounts for each semester, so you will know ahead of time, if part of one refund check needs to be saved to assist you with living expenses in another semester.
How can I make this semester refund last until the next one?
There are many ways to budget your funds. Here is one suggestion: First, purchase your books for the semester. Then divide the remaining amount by the number of months until your next loan disbursement to determine the maximum you can spend in each month. Sit down with your spending plan, and re-work it if necessary to create a small contingency fund for expenses you did not plan on having in a typical month.
What if I need a new computer for school?
You may use excess funds checks or transfers to cover the cost of a computer. If you have borrowed all of your student loans and still need more to pay for a computer, you may request that we can add the cost of your computer to your cost of attendance.
You need to purchase the computer first, so that you have a receipt or an invoice to submit to our office. We will use this receipt to document your expense and then increase your federal student loan eligibility accordingly. The cost of purchasing a computer can be added only one time during your graduate program and is limited to a maximum of 00.
To the extent possible, we recommend covering your computer costs with your existing student loans to minimize your debt burden.
I need more than this to live on, can I increase my student loans?
We discourage increases, as the loan we are most often permitted to increase is your most expensive loan, the federal Grad PLUS Loan. However, on a case by case basis and with sufficient documentation, there are some circumstances under which we can make increases. Examples of expenses that can be added to your cost of attendance budget and subsequently increase your loan eligibility include:
If you have small children that will need childcare while you attend school.
If you relocated from out of state this year to begin your degree program at LC, you can request a relocation allowance of up to 00.
If you need to purchase the student health insurance through Aetna.
I have a car payment, can this be added to my student loan eligibility?
No, we cannot include car payments, credit card payments, or any other consumer debt payments when determining a student’s cost of attendance. We strongly encourage all prospective students to do what they can to pay off or minimize any prior debt obligations before beginning their graduate program.
I have required child support payments, can this be included to increase my student loan eligibility?
No, these payments were taken into consideration when your FAFSA was processed. Students in this situation may wish to consider enrolling as a part-time student so they can continue to work and have funds to cover this obligation.
Can I get money up front to pay for my move from out of state?
No, you will not be able to access your student loan funds until the semester begins. You will need to cover relocation costs using your own funds. You can request a 00 increase in your loans in the year you relocate.