Federal and State Aid

General Information
Student Loans
State Loan Assumption Program
Work-Study

General Information
The M Center at Mills College awards Federal Stafford Loans to graduate students who qualify based on the results of their Free Application for Federal Student Aid (FAFSA). Departmental assistance is determined by each individual department and is awarded by the Office of Graduate Admission. Recipients may accept or reject any portion of the offer.

In 2007–08 over 70 percent of Mills graduate students received some portion of their aid directly from the College. Eighty percent of our graduate students received more than $9.5 million in aid in 2007–08. An installment payment plan is also available to help meet educational expenses.

The academic program, in conjunction with the M Center, awards institutional aid each spring for those who are admitted for the upcoming fall semester. Financial aid decisions for the spring semester are made later in the year. Applications from continuing students are reviewed once spring grades have been submitted to ensure students have met the financial aid satisfactory academic progress policy standards.

Financial aid is renewed on the basis of need and satisfactory academic progress. A financial aid application must be filed each year in which renewal is requested.

Recipients of financial aid may be required to submit income verification, income tax forms, or other documents that confirm income sources and amounts. The number of semesters of eligibility for entering graduate students is established by the initial graduation date defined by their program requirements upon entrance to Mills. Financial aid eligibility continues only to this expected date of graduation.

Eligibility
Eligibility for need-based financial aid depends on a student's financial need, which is defined as the difference between estimated expenses and estimated resources. Financial need for each applicant is determined after a careful review of the information submitted as part of the financial aid application.

In establishing eligibility, expenses related to attendance are considered: fees payable to the College, plus an allowance for books, supplies, and personal expenses. Living expenses are considered in determining financial need for commuters, but the Mills award will not cover the often higher costs of living off campus.

Federal Verification Process
Federal verification is a process mandated by the federal government in which students and/or parents are required to provide secondary documentation to support data reported on the FAFSA. Approximately 30 percent of students are selected by the federal government for this verification review and are notified of their selection on their Student Aid Reports.

Students selected for federal verification are required to submit to Mills a signed copy of the student's prior year federal tax return (and parents' prior year federal tax returns if the student is dependent and provided parent data on the FAFSA). Students must also complete either a dependent or independent verification worksheet (based on their FAFSA determined status), which is available on the Mills College financial aid website. The tax forms and the Federal Verification Worksheet should be submitted to the M Center within 30 days of the request date. Failure to submit the requested documentation will result in the withdrawal of the student's financial aid award for the academic year. A revised award letter will be mailed and/or the student will be notified if his or her financial aid award changes as a result of the verification process.

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Federal Stafford Loans
There are two types of Stafford loans available to Mills graduate and certificate students: the Federal Subsidized Stafford Loan and the Federal Unsubsidized Stafford Loan. Both programs are administered by the M Center.  

To be considered for a Stafford Loan, a student must be a U.S. citizen/national or eligible non-citizen, must not be in default on a federal student loan or must have made satisfactory arrangements to repay it, and must not owe money back on a federal student grant or must have made satisfactory arrangements to repay it. The student also must be enrolled at least half time in an eligible program and must maintain satisfactory academic progress for financial aid.  

Federal Subsidized Stafford Loan
This loan enables students who have demonstrated financial need to borrow from private lenders to help pay for college expenses. The annual borrowing limit is $8,500 for graduate students enrolled in a master's degree or doctoral degree program. For students enrolled in an eligible certificate program, the annual borrowing limit is $5,500. The Federal Subsidized Stafford loan does not accrue interest while the student is enrolled at least half time.

This loan program has a deferment provision so that no repayment of the loan is required while the student is enrolled at least half time at an eligible post-secondary institution. The federal government will pay the in-school interest which accrues on the Federal Subsidized Stafford Loan as long as the borrower is enrolled at least half time in an eligible degree or certificate program.

Repayment begins six months after the borrower graduates or is no longer enrolled at least half time at an eligible post-secondary institution. The lender may deduct an origination fee of up to 3 percent and an insurance fee of up to 1 percent from the amount of the loan prior to the disbursement of funds.
 

Federal Unsubsidized Stafford Loan
This loan is available to students who do not qualify for the Federal Subsidized Stafford Loan or to independent students who want an additional loan to supplement the Federal Subsidized Stafford Loan. For graduate students enrolled in a master's or doctoral degree program, the annual borrowing limit is $20,500 less the amount of the Subsidized Stafford Loan for which the student qualifies. For independent students enrolled in an eligible certificate program, the annual borrowing limit is $10,500 less the amount of the Federal Subsidized Stafford Loan for which the student qualifies.

A student does not have to demonstrate financial need for a Federal Unsubsidized Stafford Loan except to the extent that total financial aid, including the Unsubsidized Stafford Loan, cannot exceed the student's cost of attendance for the given academic year. Unlike the Federal Subsidized Stafford Loan program, the government does not pay the interest while the student is in school, and the borrower has the option to make regularly scheduled interest payments while in school or agree to have the interest added to the principal. No repayment of the principal is required while the student is in school at least half time at an eligible post-secondary institution or during grace or deferment periods. Regular monthly payments begin six months after the student graduates or is no longer enrolled at least half time at an eligible post-secondary institution.

How to Apply
Applications filed after the published deadline will be accepted. However, priority for determining student loan eligibility will be given to students who meet the following deadlines.

Forms Required:

• Free Application for Federal Student Aid (FAFSA)
• Federal Stafford Loan Request Statement 

Application Deadlines:

• February 1 for fall admission
• November 1 for spring admission

Note: Students who will not be enrolled in a master's or doctoral degree program at Mills are considered to be fifth year undergraduates for purposes of federal student aid and must fill out their FAFSA accordingly. This requirement includes students in the following programs:

• Biochemistry and Molecular Biology Certificate Program
• Post-Baccalaureate Certificate Program in Computer Science
• Post-Baccalaureate Pre-Medical Certificate Program

Loan Eligibility Notification
Once the FAFSA is received by the federal processor, the results will be forwarded to Mills, where loan eligibility can be determined by the M Center. This office will send a Financial Aid Award letter to the student, indicating his/her Federal Stafford Loan eligibility. The student will be required to complete additional requirements to complete the application process for the Federal Stafford Loan(s).

First-time Federal Stafford Loan borrowers at Mills College must complete the Stafford Loan entrance counseling requirement online and complete a Master Promissory Note with the lender of choice prior to certification of their loan(s). Upon leaving Mills College, borrowers must complete loan exit requirements.

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Graduate PLUS Loan
Students enrolled in a master's or doctoral degree program may also apply for a Graduate PLUS Loan after accepting the maximum annual amounts for which the student qualifies in Stafford Loans. Students may borrow up to the total cost of attendance minus the amount of Federal Stafford Loans and other aid received. To qualify, a student must be a U.S. citizen, a U.S. permanent resident, or an eligible non-citizen and must have a valid Social Security number. There may be an origination fee of up to 3 percent and a federal default fee of 1 percent. Interest begins to accrue immediately and up to $2,500 of the interest paid each year is tax deductible. Payment starts within 60 days of the last disbursement but can be deferred while the student is in school. The student will be given up to 10 years to repay the loan.

How to Apply
Students must submit the Free Application for Federal Student Aid (FAFSA). Also, students must complete the Master Promissory Note with a lender of their choice and meet the lender’s credit eligibility requirements. Students must also complete a Graduate PLUS Loan Request Statement through the M Center.

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State Loan Assumption Program

Assumption Program of Loans for Education (APLE)
The APLE is a competitive teacher incentive program designed to encourage outstanding students, district interns, and out-of-state teachers to become California teachers in subject areas where a critical teacher shortage has been identified or in designated schools meeting specific criteria established by the superintendent of public instruction. In order to be eligible for this assumption program, the student must be approved to receive or have received an educational loan(s) and must not be in default on any educational loans. The student must also agree to teach in a designated California public school or in subject areas where a critical teacher shortage has been identified. Additional information and an application can be found on the California Student Aid Commission’s website or by calling 916.526.7590. 

Cal Grant Teaching Credential Program Benefit
Students who received Cal Grants as undergraduates within the final 15 months of enrollment may qualify for an additional year of funding while pursuing a teaching credential. Eligible students are required to submit both a Free Application for Federal Student Aid (FAFSA) for the academic year in which benefits are requested and the request for Cal Grant Teaching Credential Program Benefits form through the California Student Aid Commission’s website. Both documents are also available at the M Center.

Work-Study

Because on-campus work eligibility is prioritized for undergraduate students, graduate students typically are not eligible for on-campus work-study positions. Graduate students seeking part time or other employment opportunities are encouraged to utilize the off-campus job listing services of Career Services located in the Division of Student Life.

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