Higher education is one of the
most important investments that you can make in yourself. An education from
Cardinal Stritch University is often more affordable than other private and
public university options. With highly personalized attention and excellent
professors it’s also a greater value that leads to better preparation for your
At the graduate level, the amount
of funding you require is based on the number of credits in which you enroll
and the tuition for your program. Review the current tuition and fees. We welcome you to discuss financing
your education with either your admissions
counselor or a financial
aid counselor in the Office of Financial Aid.
New Students: Complete the Admissions Process
Before pursuing the financial aid process, you will need to apply for admission and be admitted to your graduate program. Students in term-based programs must enroll in at least 4 credits per term (6 credits per term is required for Post-Baccalaureate Certificate programs). Students in accelerated, non-term programs are eligible for aid based on enrolling in the program.
Know Your Options with the Direct Loan Program
Stritch participates in the Direct Loan
program which provides funds to both graduate and professional degree
students. Eligible students can take advantage of either a Direct
Unsubsidized Loan or a PLUS Loan. Federal student loans offer many
benefits not typically included with private loans, such as fixed interest
rates and income-based repayment plans. Most student loans do not require
repayment until after graduation.
- Direct Unsubsidized Loan
You are not
required to show financial need to receive a Direct
Unsubsidized Loan. Stritch
will determine the amount you can borrow based on your cost of attendance, the
other financial aid you receive, and the amount of your lifetime limit that has
been borrowed. The maximum amount that can be borrowed per award year is
$20,500. You will be responsible for
paying the interest on a Direct Unsubsidized Loan during all periods. If you
choose not to pay the interest while you are in school and during grace periods
and deferment or forbearance periods, your interest will accumulate and be added
to the principal amount of your loan.
- PLUS Loan
The U.S. Department of Education is
the lender for PLUS
Loans. A primary factor in
obtaining a PLUS Loan is a positive credit history. The maximum loan amount is
your cost of attendance, which is determined by Stritch, minus any other
financial aid received. These loans are utilized by students who need more
funding than the Stafford loan program is offering them. They can be applied for at www.studentloans.gov.
- Alternative Loans
These loans are not provided through
the federal government. Rather, they are
borrowed from private bank/credit industries.
These loans are for students with an excellent credit history, which may
allow the student to borrow them at a lower interest rate than the federal
loans are offering. However, many of these loans do not have the features of
the federal loans. These loans can be
explored on our alternative loans page.
Overview of the Financial
Aid Application Process
the Free Application for Federal
Student Aid (FAFSA) online at www.fafsa.ed.gov.
- After the Financial Aid Office receives and
processes your FAFSA, you will receive a notification to access your financial
aid files online atwww.stritch.edu/myfinaidstatus.
all of your information is received, the Office of Financial Aid will create an
award letter that shows your financial aid package. You will receive this
letter by postal mail.
you choose to accept your financial aid package, you will be asked to sign a
loan agreement called a master promissory note (MPN). You will be able to do
this electronically at www.studentloans.gov.
Reapply Each Semester
To maintain your aid, it is
important to stay on top of your financial aid status and ensure that you
submit all necessary paperwork in a timely manner. Stay current on what is required and where you are in the process through using our Online
Aid Services system.