Graduate Financial Aid

Significant scholarships are available for specific Carthage graduate programs.

A $6,000 Carthage grant is available for both the Business Design and Innovation and Sports Management tracks of the Master of Science in Business program. Graduate assistants are not eligible for this award.

For more information, email John Frese, director of admissions and financial aid, at john@carthage.edu.

Graduate degree-seeking students can borrow up to $20,500 each year. No more than $8,500 of this amount may be in subsidized loans. Because you can’t borrow more than your cost of attendance minus any other financial aid you’ll get, you may receive less than the annual maximum amounts. Students interested in Direct Loans must be attending at least half time.

To qualify for any of the above Federal Student Aid Programs, graduate students must file the Free Application for Federal Student Aid (FAFSA) each year they are attending Carthage.

Graduate degree students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. Graduate PLUS loans requirements include a determination that the applicant does not have an adverse credit history, repayment beginning on the date of the last disbursement of the loan, and a fixed interest rate of 7.9 percent in the Direct Loan Program. Graduate students also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate PLUS loan. Students must be enrolled at least half time to qualify for this program.

To qualify for any of the above Federal Student Aid Programs, graduate students must file the Free Application for Federal Student Aid (FAFSA) each year they are attending Carthage.

Students may be eligible for Federal Work-Study, Direct Loans, or PLUS loans if they are enrolled at least half-time in required teacher certification coursework. To qualify, the coursework must be required for elementary or secondary teacher certification or re-certification in the state where the student plans to teach.

Students who already have their first bachelor’s degree and are enrolled in a Teacher Certification Program or coursework are eligible to borrow up to $5,500 in Direct Loans, with up to $7,000 more in unsubsidized funds for independent students and dependent students whose parents were denied a PLUS loan. Certain students may also qualify for the Stafford Loan Forgiveness Program for Teachers.

A student not enrolled in a degree or certificate program is eligible for Direct Stafford and PLUS loans for up to one year if they are taking coursework necessary for enrollment in an eligible program. If enrolled at least half-time in these prerequisite courses, they are eligible for loans for one consecutive 12-month period (not per program) beginning on the first day of the loan period. If the period of preparatory courses spans more than one academic year, the student may receive multiple loans.

Students seeking to enter an undergraduate degree or certification program may borrow up to $2,625 of Direct Loans (with up to $6,000 more in unsubsidized funds for independent students and dependent students whose parents were declined a PLUS loan). Students trying to enroll in a graduate or professional program may borrow as much as $5,500 (and up to $7,000 of additional unsubsidized funds).

Students who are attending Carthage College and are NOT degree-seeking DO NOT qualify for financial aid. However, there are additional resources that we may be able to help you with, such as alternative loans or payment plan options.