Eight Easy Steps to Student Financial Aid - Graduate

 

Step 1.  Apply for Admission

  • If you wish to be considered for a graduate assistantship, please make sure to indicate that on your application.

Step 2. Apply for Financial Aid

  • Make sure you are admitted into a degree seeking program or an eligible certificate or certification program.
  • Create or recover your FSA ID at fsaid.ed.gov You will need this username and password to apply for federal financial aid.
  • File the FAFSA - Log onto www.fafsa.ed.gov
    • Montclair State University School Code is 002617
  • Students must be enrolled at least half time to receive aid.  
    • Graduate students who are completing a Masters degree and above must take a minimum of 4.5 credits to be considered half-time. 
    • Teacher Certification students must take a minimum of 6 credits to be considered half-time.

Step 3. Review your Financial Aid Awards

  • You will receive a notice to review your Financial Aid on NEST.
    • Information regarding this account will be provided to you in your Admissions acceptance letter.
  • You are always offered the MAXIMUM awards allowable based on the FAFSA and full-time enrollment (9 or more credits). 
    • Most graduate students are eligible for $20,500 in unsubsidized Direct Stafford student loan funds
    • Offered aid is estimated and subject to change if your enrollment falls below full time and/or your eligibility changes.
  • You cannot receive more aid than your total Cost of Attendance (direct and indirect expenses).
  • If you are interested in scholarship opportunities, please go to The Graduate School’s homepage: www.montclair.edu/graduate.

Step 4. Estimate Your Costs

  • The estimated Fall/Spring costs provided by the Financial Aid Office are known as the Estimated Cost of Attendance. The Estimated Cost of Attendance ESTIMATES charges for tuition and fees (direct expense), and also includes out-of-pocket expenses like books and supplies, transportation, and miscellaneous expenses for 2 semesters (indirect expense).
  • Your bill on NEST will represent Actual Charges (direct costs) for each semester (tuition, fees, room and board (if applicable) and transfer of excess funds to Red Hawk Dollars)

Step 5. Make a Plan to Pay the Bill

  • You are responsible for any outstanding balance that is not covered by your loans, by the payment deadline (indicated on the billing statement on NEST or see Student Accounts homepage
  • You may utilize the payment plan offered by Student Accounts: Payment Plan Details
  • Students in graduate degree programs can borrow additional funds from:
  • If you are interested in scholarship opportunities, please go to The Graduate School’s homepage: www.montclair.edu/graduate.
  • Financial aid is not credited/deducted from the bill until after the 10th day of classes and your professors have confirmed you have attend class.
  • Refunds will be processed after the money has been credited to your student account.

Step 6. Accept, Reduce or Decline Loan(s)

  • You must accept your loan(s) on NEST by clicking on the "Award Accept Offer" tab.
  • You may accept the full amount or reduce the amount needed per semester on NEST.

Step 7. Complete Direct Loan Counseling and Master Promissory Notes for your Stafford and Graduate PLUS loans

  • Log on to www.studentloans.gov to complete these requirement for your loans.
    • Complete the Entrance Counseling
      • There are separate Entrance Counseling for the Stafford loan and the Graduate PLUS loan (if approved).
    • Complete the Master Promissory Note
      • There are separate Master Promissory Notes for the Stafford loan and the Graduate PLUS loan (if approved)
    • Your Federal loans will not disburse to your account until the entrance and MPN are completed for the loans on your award.

Step 8. Stay Up-to-Date

  • Read your e-mails on your Montclair State University e-mail account.
  • Check NEST regularly for financial aid, billing, registration, and other information.
  • Students must maintain Satisfactory Academic Progress to continue receiving aid.
  • If you have questions please contact the Financial Aid Office.