Graduate/Professional Financial Aid

William D. Ford Federal Direct Loans

The William D. Ford Federal Direct Loan Program is the largest federal student loan program for graduate and undergraduate students. Under this program, the Department of Education is your lender rather than a bank or other financial institution. These loans are administered through Husson University’s financial aid office. To become eligible, you must complete the Free Application for Federal Aid (FAFSA).

There are two types of Direct Loans that graduate and professional degree students may receive:

Direct Unsubsidized Loans

• Eligible graduate and professional degree students may borrow up to $20,500 per school year. Graduate and professional students enrolled in certain health profession programs may receive additional Direct Unsubsidized Loan amounts each academic year. Contact your school’s financial aid office for details.

Federal Direct Graduate Plus Loans

• If you are a Graduate student attending Husson University, you may be eligible to apply and receive a Grad PLUS Loan. You are not guaranteed to receive the Grad PLUS Loan. Upon application, the Department of Education (DOE) will evaluate your credit and approve or deny your application based on your credit score and history. Husson University is not involved in the credit decision made by the DOE. If you have any questions regarding the pre-approval process for the PLUS Loan, please contact the Department of Education.
• Graduate Plus loans are federal loans you may borrow to help pay the educational expenses that are not met by a Direct Unsubsidized Loan (as a graduate student you must be enrolled in at least 3 credit hours a semester).
• To be eligible for a PLUS Loan, you must have completed a FAFSA on file and submitted your Award Acceptance. Then, you must be able to pass a credit check that indicates that you do not have adverse credit history.
• You as the borrower cannot be 90 days or more delinquent on the repayment of any debt or the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment or write-off of a Title IV debt during the last five years.
• You may borrow up to the total of the Estimated Cost of Attendance less resources and all other financial aid received.

For Direct PLUS Loans first disbursed on or after July 1, 2024 and July 1, 2025, the interest rate is is 9.08%. This is a fixed interest rate for the life of the loan and is charged on the loan from the time the loan funds are disbursed until it is paid in full.

Applying for a Direct Graduate PLUS Loan involves four steps:

1. Log into and then select the "Request a PLUS Loan" option on the www.studentaid.gov website. Please ensure that you are logging in with your own FSA ID and Password
2. You must complete a separate Master Promissory Note for the Grad Plus loan. This is valid for 10 years; however, a new credit report will be initiated by the DOE each time.
3. Graduate or professional students who haven't previously received a PLUS loan will also be required to complete an additional Entrance Counseling
4. Before you begin the Graduate PLUS Loan process, you will need the following information to complete the Master Promissory Note:

• Your social security number.
• Two personal references.
• The references must reside at two different addresses.
• You will need to be able to provide phone numbers and email addresses for each reference.
• Your driver's license.

The Office of Financial Aid will then certify borrower eligibility with the Direct Loan Servicer. This Certification Process begins around June 1 each year.

Please note that if all steps in Parent PLUS Loan or Graduate PLUS Loan application process are not complete, a delay in processing or disbursing funds could result. Please contact our office if you have any questions or concerns: finaid@husson.edu or 207.941.7156.

School of Pharmacy

Students enrolled in Husson University's Doctor of Pharmacy (PharmD) program are eligible for financial aid. The process for applying for financial aid depends upon the student's classification. For instance, some first year students will be classified at the undergraduate level while many will be classified at the professional level. 

Classification of PharmD Students

Students who enter the PharmD program will be classified at the graduate/professional level only if they have already completed the equivalent of three years of full-time study. Therefore, students entering the PharmD program with 72 credit hours completed or more will be classified as graduate/professional students. Students classified as graduate/professional are not required to include their parents' information on the FAFSA for federal aid purposes.

Any student entering the PharmD program with less than 72 credit hours completed must be classified as an undergraduate level student according to federal student aid regulations. However, if the student is also accepted into and enrolled at least half time each semester in one of the master's programs at the same time, they can be classified as graduate/professional. Students classified as undergraduate are required to include their parents' information on the FAFSA, and must answer "no" to question 47 on the FAFSA form.

Combined Undergraduate/Graduate Programs

BS/MBA   BS/MCJA   BS/MSOT   BS/DPT

Students in these programs are awarded aid as undergraduate students until they reach the required number of credits to be a graduate student (typically 120 credits).  While this varies slightly for each of the five and six year programs, it is generally after four years or when the student attains a bachelor's degree. 

When a student becomes a graduate student, per federal regulation, they can only receive an unsubsidized Direct Federal loan up to $20,500 per year.  They may also be eligible to borrow a Graduate PLUS loan and to receive Federal Work-Study.  There are limited scholarship funds for a student to apply for at the graduate level and, unlike the undergraduate level, none are awarded automatically through the admissions process. 

Please be aware that moving from undergraduate to graduate study will significantly change your financial aid eligibility.