Financial Aid

Financial Aid

Financial Aid and Support Information

When you consider the availability of financial aid and our competitive tuition rates, you will understand why St. Bonaventure University Online is a decision you can afford to make.

Federal Direct Stafford Loans for Graduate Students

The Federal Direct Loan program allows graduate students to borrow up to $20,500 a year without demonstrating financial need. Applicants must file the FAFSA (note: grad students file as independent) and SBU's Student Loan Request. Graduate Stafford loans are not eligible for subsidized interest. This means that interest on the loan principal will accrue while the grad student is enrolled. The interest rate on the Graduate Stafford loan is 5.84 percent at this time. Loan repayment begins six months after the borrower ceases study or drops below half-time status. Stafford Loan proceeds are paid through a student’s school in two or more installments and are first applied against tuition and fees, room, board and related school charges. If loan money is left over, this is refunded to the student.

Federal Direct PLUS Loans for Graduate Students

Students may borrow up to the total amount needed to pay for graduate school tuition, room and board (on campus or off campus) books, fees and other educational expenses - less any pending financial aid. Applicants must file the Free Application for Federal Student Aid (FAFSA) and apply for their maximum Federal Direct Loans before the Federal Direct PLUS Loan can be borrowed. Most applicants are eligible for the PLUS – note that a basic credit check is required for this loan.

Alternative Loans

For students who do not qualify to borrow federal student loans, an Alternative educational loan may be a good option. Unlike federal loans, Alternative loans do not require half-time attendance to qualify. A student taking just one course per term may qualify for an Alternative Loan.

Alternative loans are available to students through various major lenders. Most Alternative loans have variable interest rates. Depending on the lender, the interest rate is usually based on Libor or Prime rates and may change monthly or quarterly. Interest on the loan begins accruing after the first disbursement. Many lenders defer interest payments while the student is in school, although some lenders require interest payments. When possible, we recommend the student pay accrued interest while in school and during the six-month grace period.

Students may need a credit worthy co-signer to improve their chances of being approved. With a co-signer, students may receive a lower interest rate which means less interest will be paid over the life of the loan. A co-signer can be a parent, guardian, or relative who has established a good credit history, has a steady income, and the ability to repay the loan if the student is unable. Before borrowing an Alternative loan, the student and co-signer should understand that the loan is in both the student’s and the co-signer’s name. If the student cannot make payments on the loan, the co-signer is fully responsible for repaying the loan.

You may apply for an alternative loan through any lender you choose. If you do not have a lender in mind, we offer a list of lender options. When choosing a lender, remember to review back end borrower and repayment benefits, whether the loan will be sold after disbursement, and who will service the loan after disbursement and while in repayment.

Click here to view the list of lenders provided by

Employer Tuition Benefits

Some employers have tuition reimbursement plans for staff who pursue additional schooling. Department managers and human resource officers are the best sources of information.

Prospanica: The Association of Hispanic MBAs & Business Professionals

This organization provides scholarship support to individuals of Hispanic heritage pursuing MBA degrees at AACSB-accredited colleges and universities (SBU has this accreditation).

Veterans Educational Benefits

Educational benefits received through the Montgomery GI Bill may be applied toward an advanced degree. SBU is also a Yellow Ribbon school.

Private Scholarships

Some students find private scholarships to supplement their financial aid and cover remaining costs. To find scholarship sources, we recommend checking these websites:

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