Graduate Student Financial Aid Process

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Financial Aid

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We know that pursuing a graduate degree is a big decision, and we’re here to help you understand your financial aid options. Salve Regina University offers resources to help make your education more affordable, from federal student loans to flexible payment plans.

Complete the FAFSA

Start by submitting the Free Application for Federal Student Aid (FAFSA) at studentaid.gov. This is how you apply for federal direct unsubsidized loans, which are the primary source of federal financial aid for graduate students.

  • School code: 003411
  • When to apply: Each academic year (July 1-June 30)
  • Tax info needed: Use tax information from two years prior (e.g., 2023 taxes for the 2025-2026 FAFSA)
  • Sign up with your FSA ID. Learn how to create your FSA ID.
FAFSA Verification

Sometimes, the Department of Education selects FAFSAs for verification. If you're selected, we’ll reach out and walk you through the next steps to confirm your information and finalize your aid. 

Who’s Eligible for Financial Aid?

To receive financial aid at Salve, graduate students must:

  • Be a U.S. citizen or eligible non-citizen
  • Be enrolled at least half-time (3 credits/semester) in a degree or certificate program
  • Maintain satisfactory academic progress
  • Not be in default on previous federal loans or owe a grant refund
  • Have completed the FAFSA for the current academic year 

Financial Aid Checklist for Graduate Students

Here’s a simplified list of steps to make sure your aid is ready to go:

  • Complete your FAFSA
  • Sign your Master Promissory Note (MPN) – Your loan agreement
  • Complete entrance counseling – Learn your rights and responsibilities
  • Register for courses – At least 3 credits to stay eligible
  • Submit your Graduate Intended Enrollment Form (new students) – Let us know your plans
  • If you’re enrolled in fewer than 3 credits or not registered at all, your loans may go into repayment after your grace period ends.
  • Satisfactory Academic Progress (SAP) – You need to maintain a 3.0 GPA to remain eligible for financial aid. Falling below 3.0? You’ll be placed on academic probation. To continue receiving aid, submit a letter of appeal to the financial aid director. If approved, you may receive aid for one probationary semester.
  • For continuing education students: A 2.0 GPA and 67% completion rate are required.

Loan Amounts and What They Cover

Depending on eligibility, graduate students can borrow federal unsubsidized student loans up to:

  • $10,250 per semester
  • $20,500 per academic year

Funds cover tuition, fees, and can include books or living expenses (optional). If you need extra funds, complete our Graduate Book/Living Expense Request.

Recommended Amounts
  • Books: ~$100 per course
  • Living expenses: ~$1,500 per course (up to $4,500/semester)

Your lifetime federal loan limit is $138,500, including undergraduate loans. Check your loan totals at studentaid.gov.
Want to reduce or cancel your loan? Use our Loan Reduction/Decline Request Form or email us from your Salve email account.

More Ways to Finance Your Education

Graduate PLUS Loan

If you have maxed out your federal unsubsidized loan, you may apply for the Graduate PLUS Loan at studentaid.gov and complete a new Master Promissory Note (MPN).

Private Student Loans

Explore lenders with competitive rates and benefits. Once approved, your lender will send us a certification request, and we’ll process it. View our most frequently used private loan lenders list to assist you with a starting point in your research. 

Monthly Payment Plans

Prefer to pay as you go? Salve partners with Nelnet to offer interest-free monthly payment plans. Enroll through your My Salve account or call Nelnet at (800) 609-8056.