Enrollment Requirements
Your offer may consist of a Fall and Spring loan in which you must be enrolled at least half-time (5 credit hours) in a degree-seeking or qualifying certificate program to be eligible for federal student aid. Full-time enrollment is 9 or more credit hours in a semester. We will verify your enrollment prior to each semester to determine if you are eligible to receive your aid for that term.
Federal Title IV Authorization
This authorization allows you the opportunity to decide whether you want UMSL to apply your federal aid to charges above the cost of tuition, fees, books, room and board should you incur such charges. If you do not authorize UMSL to do so, you are responsible for paying those charges to the Student Financial Services Office within the semester.
Accepting Aid
You can accept your aid through MyView, using your SSO ID (username) and password to log in. E-Consent must be completed in order to view your financial aid information. Once E-Consent is completed, you will re-log into MyView and navigate as follows:
Main Menu à Self Service à Campus Finances à Accept/Decline Awards à Click Aid Year to view your offer.
We encourage you to accept scholarship and grant funds before taking out a student loan and to only borrow what you need . Please keep in mind, most financial aid accepted will automatically be split between the Fall and Spring semesters. Once you accept or decline aid, click “ Submit” and go through all of the steps until you return to the “ Accept/Decline Awards” page. If you plan to use federal loans for the Summer semester, reduce the amount you accept for Fall and Spring. Summer aid eligibility is based on the remaining loan amount after the Fall and Spring semester disbursements.
Disbursement of Financial Aid Funds
Financial aid funds are applied to your UMSL charges no earlier than 10 days prior to the first day of the semester. If you have excess aid, a refund will be issued. The refund will either be a check sent through the mail or you can enroll in Direct Deposit through MyView. Disbursement will only occur if you are meeting the eligibility requirements for the types of aid accepted.
The Student Financial Services Office will send monthly billing statements via your UMSL email account. Any pending financial aid will adjust your amount due for the semester. A positive balance is what you owe after financial aid is disbursed and a negative balance is the amount you can estimate will be refunded to you. If you have additional charges on your account after aid disburses, you are responsible for paying your balance off with the Student Financial Services Office by the end of the semester or you will be held from registering for your next term. Payments are always due by the 10th of the month.
Dropping Classes or Withdrawing
We understand it may be necessary for you to drop a course or withdraw from the University due to unforeseen circumstances. However, if you must do so and have received federal aid, you may have to repay the aid you received. Contact Student Financial Services prior to dropping a course or withdrawing to determine how it will affect your financial aid eligibility.
Satisfactory Academic Progress (SAP)
Graduate Students must meet these requirements to be eligible to receive federal student aid.
- Have a minimum cumulative UMSL GPA of 3.00+
- Complete your program within 150% of the required number of credit hours.
Optometry students are monitored by the College of Optometry.
The complete policy is available on the SAP webpage.
Student Loan Information:
| Name | Eligibility | Payment Begins | Interest Rate | Lender | Borrower | Origination Fees |
|---|---|---|---|---|---|---|
|
Direct Unsubsidized Stafford Loan |
Non-need-based |
Six months after graduation or < ½ time enrollment |
Fixed 7 . 94 % |
Federal Government |
Student |
1.057% origination fee |
|
Direct Graduate PLUS |
Non-need-based, final approval pending credit check |
Once fully disbursed, but eligible for in-school deferment |
Fixed 8.94% |
Federal Government |
Student |
4.228% origination fee |
|
HPSL (Optometry only) |
Need-based |
Twelve months after graduation or < ½ time enrollment |
Fixed 5.0%, begins at repayment |
UMSL |
Student |
None |
* Note: Interest rates may change July 1st based on the Treasury Department.
Types of Aid:
NOTE: Any type of assistance offered after you receive your financial aid offer may reduce loans and other aid you were originally offered.
Scholarships:
You can apply for graduate student scholarships by completing the application available through SFS. You may inquire with your academic department regarding scholarship opportunities and search our external scholarships links on the website. If you are receiving an external scholarship, please notify our office.
TEACH Grant:
This federal grant is for students who indicate on their FAFSA of the intention to teach after graduation for a certain number of years in a “high need” area designated by the Department of Education. If a student does not fulfill the teaching commitment, the grant converts into a Direct Unsubsidized Stafford Loan. More information on the TEACH Grant.
Loans:
Health Professions Student Loan (HPSL)
This loan is for students in the Optometry program and is provided through the Department of Health and Human Services. Parental information is required for this loan, and the application is available on the website under our Forms link for the 2026-2027 academic year. Funds are limited and priority consideration will go to students with the highest need.
Federal Direct Unsubsidized Stafford Loan:
Most graduate students are offered a Federal Direct Unsubsidized Stafford Loan, which is non-need based. This loan begins accruing interest once the funds disburse to your student account to pay towards your balance. All first-time borrowers at UMSL must complete Entrance Counseling and a Master Promissory Note before the Direct Unsubsidized loan can disburse.
Federal Direct Graduate PLUS Loan:
A non-need based loan option for graduate students who have exhausted their Stafford Loan eligibility. Students can apply through the Federal Student Aid website and a credit check is performed by the Department of Education. The school will certify the loan for the amount in which you are eligible, if approved by the Department of Education. A separate Master Promissory Note and Entrance Counseling will be required. Repayment begins once the loan fully disburses and in-school deferment may be possible by contacting your federal loan servicer.
Private Loans:
You may also apply for a private loan. Private loans are credit-based student loans offered by private lenders. Private loans are not based on need, but on the applicant’s creditworthiness. Private loans should be considered as a last resort since they typically have higher interest rates and less favorable repayment terms than government-backed student loans. A list of private lenders can be found on the website under the “ Loans ” link.