Financial Assistance for Graduate Students

Office of Financial Aid and Scholarships
Student Success Center, Room 5200
MSC 3519
Phone: (540) 568-7820

Federal Financial Assistance Programs

The Office of Financial Aid and Scholarships helps qualified students secure a financial aid package designed to meet their financial needs. In most cases, students who have earned a bachelor's degree are no longer eligible to receive federal and state grants, with the exception of the tuition portion of the assistantships mentioned in the prior sections, which may use state dollars to fund the waiver. Therefore, the award package for graduate students generally consists of loans and work-study eligibility.

Students interested in information on financial assistance programs, including scholarships, should visit the financial aid website, contact the Office of Financial Aid and Scholarships or send an e-mail to fin_aid@jmu.edu. A general overview of the aid process and basic consumer information can be found by reading the JMU Terms and Conditions for Financial Aid – Consumer Information document

Application Procedures and Deadlines

All financial aid applicants must undergo a standardized federal "needs analysis" by completing the Free Application for Federal Student Aid (FAFSA). To facilitate timely processing of financial aid, it is essential that applicants ensure their FAFSA has reached the federal government by March 1 prior to the academic year for which they are seeking financial assistance. Failure to apply by the priority filing date may cause delays in receiving aid.

A student must complete a FAFSA before financial aid eligibility can be determined for the following sources of aid:

  • Federal Unsubsidized Direct Loan
  • Federal Work-Study Program
  • Need-based Foundation Scholarships
  • Federal Grad PLUS Direct Loan

When a student files the FAFSA, the federal processor calculates their Student Aid Index (SAI). The SAI is an estimate of the family's ability to contribute to the student's overall educational expenses for one year. JMU calculates the student's financial "need" by subtracting the SAI from the Cost of Attendance (described later).

Financial aid recipients must complete the FAFSA each school year. Amounts and types of assistance may vary from year to year. If funds are available, the Office of Financial Aid and Scholarships continues to assist students who meet the following conditions:

  • Complete the FAFSA, with precedence given to those who apply by the priority filing date of March 1 prior to the academic year for which they are seeking financial assistance.
  • Meet the general eligibility requirements for aid as defined by the FAFSA.
  • Maintain Satisfactory Academic Progress requirements (described later).

Students offered financial assistance by JMU will receive electronic notification regarding their financial aid eligibility. The financial aid office will send a notice to the JMU e-mail account, which directs students to MyMadison, where they may view and interact with their financial aid package. The aid notice has important information, so the recipient should follow all instructions to ensure the completion of required forms. Students can find consumer information regarding the financial aid process, including pertinent rules and regulations, through the financial aid section of their MyMadison account. If any of the information included in the financial aid package or award notification is incorrect, the student should immediately notify the Office of Financial Aid and Scholarships. Financial aid is awarded based on FAFSA information, as well as the student's status at JMU (e.g., academic level, enrollment status and residency).

Federal and state regulations also require the Office of Financial Aid and Scholarships to consider any outside sources of assistance when awarding financial aid. These outside sources can be JMU scholarships, private scholarships, veteran's benefits, tuition waivers, etc. The student's financial aid package may fluctuate throughout the year based on changes in FAFSA information, JMU status or the receipt of additional aid. Financial aid notices are usually sent in early summer.

Cost of Attendance

An important part of determining a student's eligibility for financial aid is calculating a Cost of Attendance. In accordance with federal regulations, JMU has developed a Cost of Attendance (i.e., budget) for anticipated expenses a student may incur during the current school year. These expenses include tuition, housing, food, books and supplies, travel and personal. Housing and food can refer to either residence hall or off-campus living expenses, depending upon a student's response on the FAFSA. Expenses are also considered for students who live at home with parents or relatives, but the Cost of Attendance is lower than for those living elsewhere. Travel expenses include items such as gasoline, vehicle maintenance and insurance. Personal expenses include laundry, clothing and entertainment. Many of the elements in the Cost of Attendance are estimates, so it is possible for a student to spend more or less than anticipated during any given year.

Satisfactory Academic Progress

To be eligible to receive financial assistance, students must be making satisfactory progress toward graduation as defined by The Graduate School and the Office of Financial Aid and Scholarships. Financial aid standards are available on the financial aid website.

Student Loans

Information about student loans is available on the financial aid website.

Federal Direct Loan Program

The Unsubsidized Direct Loan is a long-term, low-interest loan for which undergraduate, graduate and professional students may apply. The interest rate on each loan is fixed on July 1st of the award year. Students can view current year interest rates online. The student can either pay the interest while in school or have it capitalized (i.e., added to the principal). Payments on the principal amount do not begin until six months after the student graduates or drops below half-time status.

Graduate students may borrow no more than $20,500 per year, or no more than the established Cost of Attendance, whichever is lower. In addition, graduate students may borrow no more than $138,500 during their graduate career, which includes loans received for undergraduate study. For students who received prior Federal Stafford Loans at JMU or another institution, the debt total is the sum of all Direct and Stafford Loans.

Alternative Loans

Some banks offer credit-based alternative loans to students who either do not qualify for the Direct or Grad PLUS loans or cannot receive enough money through these loan programs to cover their educational expenses. Terms of these private loans vary, but interest rates are normally higher than for the Direct Loan or Grad PLUS. The financial aid office strongly encourages students to exhaust other sources of aid before pursuing an alternative loan. Interested individuals may obtain more information about alternative loan options from the financial aid website.

University Withdrawal

If students withdraw from their graduate program or the university, the University Business Office may adjust their charges based upon their withdrawal date and the JMU Refund Policy. For the university refund policy, refer to the University Business Office website.

Regardless of any adjustment to a student's charges, if he or she withdraws from the university, financial aid may be adjusted based on the percentage of the semester completed before withdrawal. In some cases, Federal Return of Title IV Funds regulations may require that aid be returned to the federal government for students who withdraw from JMU before 60 percent of a term has been completed. Financial aid is awarded for the entire term, which is generally a 15-week period. If a student does not complete the entire 15 weeks, then the Return of Title IV Fund rules will determine how much financial aid has been earned. The student can keep the earned amount for the term, but the unearned portion must be immediately returned to the federal government. In some situations, this will leave the student with a balance owed to the university. See the JMU Terms and Conditions for Financial Aid – Consumer Information document in the "Quick Links" section on the financial aid website for a sample calculation.

Financial Declaration for International Graduate Students

All applicants planning to obtain a student visa must complete the Financial Declaration and Certification Form and demonstrate sufficient funds to undertake graduate studies at James Madison University. Applicants who have been awarded a scholarship from an international agency or from their government must attach a letter of award to the form.

This form is not an application for financial assistance. The limited financial aid that is available from James Madison University is competitively awarded on the basis of academic excellence. Assistantships are not need based. The university has no financial resources that are specifically reserved for international students. Only after acceptance into a specific graduate program can any student be considered for graduate assistantships or financial aid at James Madison University.

Financial Requirements

Instructional fees are listed on the University Business Office website. International students attending James Madison University are required to be full-time degree seeking students and are expected to carry at least nine semester hours of credit for each semester they are enrolled.

Living expenses in Harrisonburg are estimated to be $16,200 (including housing, food, books and personal expenses) per calendar year. Students are expected to purchase medical insurance and pay a $200/semester international student fee. See The Graduate School's website for additional details. Additional amounts are required for a spouse and per child. Graduate Assistants receive tuition support and a stipend that typically covers many, but not all of these expenses. Students who wish to study during the summer sessions should be aware that summer tuition may not be included in graduate assistantship contracts and this tuition must be paid by the student.Tuition rates are subject to change.

Projected Financial Requirements

Admission is limited to applicants who are able to guarantee that they have all the funds necessary for their expenses for the entire period of their stay without resorting to employment while in the United States except for graduate assistantships or other campus employment. An international student should expect living expenses in Harrisonburg to increase each year and tuition fees may increase as much as 3% each academic year.

Availability of Funds

It is required that all tuition and other university fees be paid prior to the semester registration period in which the student wishes to enroll.

Tuition and fees and payment due dates are listed in the graduate catalog for each academic year. Specific payment procedures are addressed in the Schedule of Classes published for each semester.

Employment

International students with a student (F-1) visa may not accept employment off-campus. On-campus employment is permitted.