Graduate Financial Aid Options
Many graduate departments offer fellowships to Georgia Tech graduate students. You must be nominated for these awards by your academic department. The Graduate Studies office provides helpful information about fellowships, assistantships, and other payment options.
Paying for Grad School
Federal Direct Loans
Georgia Tech participates in Direct Lending, which provides a streamlined, high-quality, cost-effective, and dependable loan program for students and families. The Federal Direct Loan Program includes the following loans for graduate students:
Graduate Unsubsidized Direct Student Loans
Unsubsidized Loans are federally guaranteed loans that are not based on financial need. Interest accrues from the time the loan is distributed to Georgia Tech. Students are not required to start making payments on this loan until six months after they graduate or drop below half-time. This is known as the “grace period.”
The annual loan limit is $20,500 or up to the cost of attendance minus any other financial aid or resources.
Graduate Direct PLUS Loans
This is a loan option for graduate students to help pay for their educational costs not covered by the unsubsidized loan. Graduate students can borrow up to the cost of attendance minus any other financial aid the student is receiving. For instance, if the cost of attendance is $30,000 for the year and the student has an unsubsidized loan for $20,500 and a $5,000 fellowship toward the school cost, the student can borrow up to $4,500.
The current interest rate as of July 1, 2020 is a fixed rate of 5.30 percent. Interest rates are set by the Department of Education around July 1 every year and will be updated accordingly at that time on our website.
Please note: credit approval is required for Graduate Direct PLUS loans. The duration of a credit check for Direct Plus Loan applicants is 180 days.
Apply for Federal Loans
Federal Student Debt Relief Plan
On August 28th, the Department of Education and the Biden-Harris Administration announced a three-part Student Debt Relief Plan, to include:
Final extension of the student loan repayment pause through December 31, 2022.
For student loan borrowers with individual incomes less than $125,000 (or $250,000 for households), up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. The relief includes current students and borrowers who have federally-held undergraduate, graduate, and Parent PLUS loans that have been fully disbursed by June 30, 2022.
A new income-driven repayment plan that will substantially reduce future monthly payments for lower- and middle-income borrowers.
For more information, including a set of Frequently Asked Questions, please visit https://studentaid.gov/debt-relief-announcement/one-time-cancellation. Further details will be announced in the coming weeks. To be notified of Federal Student Loan Borrower updates, sign up at the Department of Education subscription page.
Many private lending institutions offer loans to students seeking assistance to meet expenses related to attendance at Georgia Tech. There are an increasing number of private loans, and the terms of these loans change frequently.
Apply for Private Loans
Federal Work Study
Federal Work-Study (FWS) provides part-time jobs for graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study.
At Georgia Tech, FWS is awarded to graduate students who enroll at least half-time and demonstrate financial need. FWS awards generally vary from $600 to $1,500 per semester and are earned during the period of enrollment. Students may work in an on-campus, off-campus, or in a community service position.
Advantages of participating in the FWS program include:
- The money you earn helps to meet college expenses and will not be counted as income for your financial aid eligibility determination next year.
- You get on-the-job experience to give you an edge in the job market after graduation.
- You're able to work with accomplished professionals in their field, which provides you with valuable references in the future.
Apply for FWS
Explore FWS Options