Cost, Financial Aid and Scholarships
MFA Program Costs for 2009-2010
Tuition for the academic year: |
$13,274 |
Residency room fees and selected meals: |
$1,700 (estimate) |
Books and supplies: |
$750 (estimate) |
Residency fees cover your room, lunches, and several dinners for the two 10-day residency periods, one in January and one in June. Students are responsible for transportation costs. A laptop computer would be very helpful during the residencies.
Residency Only Costs for 2009-2010
Tuition, no academic credit: |
$1,200 |
Tuition, 4 academic credits: |
$1,872 |
Room and board fees: |
$850 |
A typical MFA financial aid package will be a combination of loans that should meet 100% of your cost of attendance. MFA students can borrow up to $20,500 per year in Stafford loans. If students have a need beyond the Stafford loans, there are lenders that offer Grad Plus or Private Loans up to the cost of attendance budget. Cost of attendance budgets include tuition, residency room and board, room and board for home residence, books, laptop, transportation and miscellaneous expenses. Do not wait for your financial aid letter to enroll in the MFA program. These letters are sent after you are admitted and have completed your FAFSA.
Additional Financial Resources
- Federal Family Education Loan Program (FFELP)
Pacific University participates in the Federal Family Education Loan Program (FFELP). This program offers incoming MFA students subsidized and unsubsidized loans. Students who demonstrate need are eligible to borrow subsidized Federal Stafford Loans; students who do not show need or who have remaining unmet need are eligible to borrow unsubsidized Federal Stafford Loans. Subsidized loans do not accrue interest while students are enrolled and for a six-month grace period afterward. Unsubsidized loans begin accruing interest when they are disbursed. The interest rate is a fixed 6.8%. - Alternative Loans
These are loans offered by lenders and institutions for educational expenses. These loans are not guaranteed student loans – lenders and institutions have varying credit approval criteria that must be met by loan applicants. These loans have a variable interest rate. - Federal Graduate Plus Loans
These loans are also offered by lenders and institutions for educational expenses and have varying credit approval criteria that must be met by the loan applicants. These loans are a fixed 8.5%.
Useful Sites for Scholarships and Alternative Loans
- www.ed.gov
- www.fastweb.com
- www.finaid.orgwww.yahoo.com/education/financial_aid/
- dmoz.org/Business/Financial_Services/college_financing
- www.mylenderlist.com/pacificugrad
Questions?
- Email: financialaid@pacificu.edu
- Telephone (Portland metro-area): 503.352.2863
- Telephone (toll free): 877.722.8648 ext. 2863
