Creating Your Financial Plan
We’re committed to helping you figure out a plan that allows you to pursue your master’s degree while staying comfortable with your financial investment.
We suggest you begin the financial aid process as soon as possible. You should file your FAFSA and make your loan request(s) at least four weeks prior to the start of classes.
A few key things to keep in mind when applying:
- The FAFSA must be filed annually.
It is valid for the full academic year and is available until June 30 for each year. This means that the 2021–2022 FAFSA must be filed by June 20, 2022. - Fordham’s academic year begins with the fall term and ends with the summer term.
Each fall term, students can receive up to $20,500 in Federal Direct Unsubsidized Loan funds. If eligible for the maximum amount, the $20,500 will be divided and disbursed over the fall, spring, and summer terms. - Take origination fees into consideration!
An origination fee is an upfront fee deducted from each Federal Direct Loan disbursement. It is charged by the federal government to help cover administrative fees associated with the federal loan programs.
Start by estimating your charges for each semester:
Use Fordham’s per-credit tuition rate, fees per term, and the amount of credits in your specific program as a guide for your calculation.
- $1,500 per credit
- $332 estimated fees per term
- Some program track options require 36 credits; others require 45
Then, consider options that can help reduce borrowing:
- Tuition assistance opportunities
- Scholarships
- Military benefits (if applicable)
- Out of pocket payments/personal resources
Review your borrowing options for the remaining balance:
1. Federal Direct Unsubsidized Loan:
- Requires a valid FAFSA
- Capped at $20,500 per academic year
- Determine your fixed interest rate for loans disbursed during the upcoming academic year by visiting the federal student aid website
- Determine your origination fee for loans disbursed during the upcoming academic year by visiting the federal student aid website
- Flexible repayment options
- Lifetime (undergraduate and graduate) borrowing limit for Federal Direct Subsidized/Unsubsidized Loans is $138,500
If additional funds are required to satisfy your balance:
2. Federal Direct Graduate PLUS Loan
- Requires a valid FAFSA and no adverse credit history (this will require a credit check)
- You may borrow up to your Cost of Attendance minus any other financial assistance you receive
- Determine your fixed interest rate for loans disbursed during the upcoming academic year by visiting the federal student aid website
- Determine your origination fee for loans disbursed during the upcoming academic year by visiting the federal student aid website
- Interest rates and repayment plans depend on individual private lenders
- Credit-based loans (will require a credit check)
- You may borrow up to your Cost of Attendance minus any other financial assistance you receive
Use our Direct Loan Checklist to confirm you’ve followed all the steps necessary to receive your Federal Direct Loan(s) for the upcoming academic year.
Estimated Total Tuition Payments
(Based on 21 Credit Enrollment for 2021–2022 Academic Year)
| Semester | Enrolled Credits | Tuition ($1,500 per credit) | Fees ($332 per term) | Estimated Direct Expenses |
|---|---|---|---|---|
| Fall 2021 | 6 | $9,000 | $332 | $9,332 |
| Spring 2022 | 9 | $13,500 | $332 | $13,832 |
| Summer 2022 | 6 | $9,000 | $332 | $9,332 |
| Total for 2021–2022 Academic Year | 21 | $31,500 | $1,106 | $32,606 |
Financing Example
The table below illustrates how a student may borrow funds to cover their direct expenses. (Does NOT Include Origination Fee):
| Semester | Federal Direct Unsub. | Graduate PLUS (Credit Check Required) | Total Per Term: |
|---|---|---|---|
| Fall 2021 | $6,833 | $2,325 | $9,158 |
| Spring 2022 | $6,834 | $6,737 | $13,571 |
| Summer 2022 | $6,833 | $2,325 | $9,158 |
| Total for 2021–2022 Academic Year | $20,500 | $11,387 | $31,887 |