Most students finance their MBA degree first using Federal Direct Loans from the U.S. Department of Education. The first step in securing this type of financing is to complete the Free Application for Federal Student Aid (FAFSA). In addition to the FAFSA loans, you may apply for a Grad Plus Loan, also a government loan, which can provide additional funds. To qualify for the Grad Plus loans requires a satisfactory credit rating. If you still need additional funds, or do not qualify for the Grad Plus loans, there are Private Alternative Loans for which you can apply. Please see the financial aid website for a listing of those alternative loan resources.
Loans cover the academic year which includes Fall, Interterm and Spring semesters (Interterm and Spring are bundled for financial aid purposes). If you are taking classes in the summer and want additional aid, you must contact financial aid in April and let them know you are seeking Summer aid. In order to receive financial aid in any given semester you must be taking 4.5 units – that applies to summer as well. Since our classes are primarily 3 units, this would mean that you would need to take 2 classes in order to receive your financial aid.