What is a FAFSA?! Do I need to file one?! FAFSA stands for Free Application for Federal Student Aid, and you might want to file for one if you are eligible; it depends on your financial situation! There are several financial aid 
opportunities available to adult student learners as well as options for payment plans.
Considering enrolling in an academic program can lead to a lot of concerns regarding the cost of tuition. We completely understand, and we want you to know: you are not alone.
“We want you to be successful in your educational journey, and our financial aid experts are here to help you decipher the aid opportunities and payment options that work best for your situation,” says Heidi Kovalick, Director of Financial Aid at Rowan University. Check out the different financial aid options below to see what might suit your needs best:
FINANCIAL AID OPPORTUNITIES BY PROGRAM TYPE
Degree Programs and Some Certificate Programs
- Federal student loans are available
Most Non-Degree Programs
- Employer tuition reimbursement
- 3rd party scholarships
- Private/alternative loans
Now that we’ve shared the overview of financial aid opportunities by program type, let’s dig in a little further. Here’s some details:
FEDERAL STUDENT AID HIGHLIGHTS
Graduate Degree Programs
- Parental information is not required on FAFSA
- Unsubsidized loans only, no federal or state grants
- Borrow up to $20,500 annually; $138,500 lifetime
- May also qualify for federal GradPLUS loans
- Based on recent credit history (not score!)
- Appeal and cosigner options available
- Interest accrues, no payments required while in-school at least half-time
- More information
Certificate Programs
- Remember, only some certificate programs are eligible
- Parental information may be required on FAFSA
- Teacher certificate programs are considered undergraduate programs - do not indicate “graduate” on FAFSA
- Student loans only, no federal or state grants post-bachelor’s
- Annual limits vary by program and lifetime limit up to $57,500
- No payments necessary while in school at least half-time
- Interest rate information
Once you have filed your FAFSA, here is some helpful information on what to do next:
HOW TO COMPLETE THE FEDERAL LOAN PROCESS
Once Your FAFSA is Received:
- Loans are offered on your financial aid award letter
- You will accept, reduce, or decline the offer in Self-Service Banner
- Annual loan amount includes amounts borrowed during fall/spring
- Summer is end of year, remaining eligibility only (annual limit – fall/spring borrowed)
- May need to sign your Master Promissory Note (MPN)
- If you haven’t borrowed in the last year, or if you are new to Rowan University
- Amounts exceeding tuition/fees will be refunded to you for books/supplies etc.
OTHER WAYS TO PAY
- Private Education Financing
- Based on credit and income, may need a cosigner
- Limited deferments but most do not require payments while in school
- Compare lenders
- Employer Tuition Reimbursement Benefits
- Check with your HR office
- Still required to pay Rowan University tuition bill by due dates
- Be aware of tax implications (taxable benefits over $5,250 on W-2) see IRS PUB 970
- Tuition Payment Plans
- Graduate and Research Assistantships
- Available through individual colleges/departments
- Generally a tuition-only waiver and stipend pay
- Be aware of tax implications
- Scholarships
- SponsoredScholar
- Create a campaign to crowdfund your remaining balance
- Visit our financial aid website for details
Take a look at the resources below for additional financial guidance. We have a digital assistant available 24/7/7365 on these web pages that can help answer your questions!
Applying for aid
Paying for college
Aid for certificate programs
Want to ask your question directly to a financial aid expert? Register and attend one of our upcoming info sessions!
Are you interested in pursuing an advanced degree?
Request information for a specific program, attend an
info session, or
start your application.
