Financial Aid

Financial Aid for Graduate Education

Who is eligible?

Students who are enrolled in the Master of Arts in Education, the Master of Arts in Teaching, MISST programs, Master of Occupational Therapy, Education Specialist, or those who are pursuing teacher licensure, may be eligible for Federal Loans to assist with their costs. Students must be enrolled at least half-time to receive the Unsubsidized Federal Direct Loan. Full-time enrollment is 9 credit hours per term and half-time is 4.5 credit hours per term. Students not enrolled at least half-time or who have used up their yearly or lifetime Direct Loan aggregates may borrow in a Private Education Loan or a Federal Graduate PLUS loan. 

How do I apply?

To apply for the Unsubsidized Federal Direct Loan you must file the Free Application for Federal Student Aid or FAFSA. You may file the FAFSA at You must also file the FAFSA if you are interested in the Graduate PLUS Loan or TEACH Grant.

For the 2021-2022 academic year (Summer and Fall 2021, and Spring I and II 2022), you will file the 2021-2022 FAFSA. Summer 2022 will start a new academic year and a new FAFSA application.

To add Muskingum to your FAFSA please add our school code, which is 003084

What types of aid may are available?

Unsubsidized Federal Direct Loan

Graduate students may receive an Unsubsidized Federal Direct Loan. The maximum Federal Direct Loan amount for which the student is eligible will be reflected on the financial aid notice. Unsubsidized loans begin accruing interest as soon as the loan is credited to the students account. Interest rates are variable and are set every July. Origination fees will be taken out of the amount borrowed. A student has the right to cancel their Federal Direct Loan within 14 days by contacting Student Financial Services. For information on current Direct Loan interest rates and origination fees please go to the government Student Aid rates webpage.

Federal TEACH Grant

The Teach Grant program provides up to $4000 per year (dependent on enrollment status) in grant assistance ($8,000 total) to graduate students enrolled in the MAE or MAT programs (students in a graduate licensure program are not eligible); who are enrolled in an eligible program and agrees to teach in a high-need field, at a low-income elementary or secondary school for at least four years within eight years of completing the program for which the TEACH grant was awarded. A TEACH Grant recipient who does not complete their required teaching within a specified time frame or fails to meet certain other requirements of the TEACH Grant program will be required to repay the TEACH Grant as a Direct Unsubsidized loan. The student must have a 3.25 GPA to be eligible and keep a 3.25 GPA for renewal.

TEACH Grant amounts (per semester- summer/fall and spring)

9 credit hours and up            =  $1886

            7 or 8 credit hours=              $1415

            5 or 6 credit hours=              $943

            3 or 4 credit hours=              $472

To apply for the TEACH grant go to You will need to complete the TEACH Grant Agreement to Serve and Counseling. You will also need to have filed the FAFSA.

To review a listing of low income schools please visit the Teacher Cancellation Low Income Directory webpage.

To review a listing of high need fields please visit the Teacher Shortage Areas Nationwide Listing.

Graduate PLUS Loans

Graduate students that need to borrow more than the Federal Direct Loan can provide, may consider borrowing a Grad PLUS Loan. Upon credit approval, a student may borrow up to the cost of education less any financial aid received per academic year. Repayment begins within 60 days of full disbursement. Some loan deferral options are available. For information on current Grad PLUS interest rates and origination fees please go to the Student Aid loan interest rates webpage.

To apply go to the Login and click on “Apply for PLUS Loan”, then choose the Grad PLUS option. Upon credit approval you will be prompted to complete a Master Promissory Note. Student Financial Services will receive your application information and contact you regarding the Grad PLUS loan process.

Private Loans

Private loans are education loans offered by banks and other lending institutions. Private loans can be used to cover any educational expenses not covered by financial aid. This type of loan can be used if you are not interested in filing the FAFSA or will be enrolled less than half-time (4.5 credit hours). Based on the credit history of the borrower, a credit-worthy cosigner may be required. Students may borrow up to the cost of education minus financial aid. In some cases students may borrow to cover a previous balance.

Students may obtain a private loan through the lender of their choice, though the following information may help you choose a loan. We offer a comparison of Private Loan Options that we are most familiar with, and that are most commonly used by Muskingum students. We review this list regularly to ensure these lenders are reputable and continue to meet the needs of Muskingum students. You will be able to compare interest rates, borrower benefits, APRs, and repayment options to help you find the private loan that best meets your needs. Your credit is checked as part of the application process once you have selected a loan.

What are the costs?

To view tuition rates please go to

Is there a payment plan?

Students may qualify for a payment plan rather than taking a loan. To find out if you are eligible contact Janet Nesselroad in the Student Accounts Office at 740-826-8118 or email

Students must have either made payment for a term or have made satisfactory arrangements with the Student Accounts Office in order to register for the subsequent academic term. Students must have cleared balance for all terms in order for a transcript to be issued or to receive or view grades.

How will I be notified of my aid eligibility?

You will receive an email with with  instructions on how to access the financial aid self-service feature in MuskieLink. The email will be sent to your Muskingum University email account. The self- service feature will guide you on how to complete the financial aid process.

Can I borrow more than I need to cover my tuition costs?

Students who borrow more than what they owe for tuition may have the remaining credit balance refunded to them to help pay for other educational expenses. Once the loan creates a credit on the student account, the Business Office will issue a refund. For information on receiving your refund disbursement, please visit 

Loan Repayment and Forgiveness Programs for Teachers and Those in Public Service

Student Loans are serious obligations which must be repaid. Repayment of principal begins after a student graduates, withdraws, or drops below half-time enrollment. There is a six-month grace period between the time a student’s enrollment stops and repayment begins. During your grace period you should prepare to enter repayment by following these 3 steps to ensure successful repayment of you loans:

1. Know who you owe and how much. Visit to find out your federal loan servicer and how much you have borrowed. To see how much you borrowed in private loans, go to to receive a listing of your private loans on a free credit report. (There is a fee if you want to view your FICO score.) 

2. Determine the right repayment plan. For more specific information regarding repayment of loans including available repayment options go to . You may also visit for information on income-based repayment. If you are interested in consolidating your loans, you may be able to extend your repayment period up to 30 years. Consolidation will reduce your monthly payments but will greatly increase the total amount of interest you will pay. Visit the Student Loans website for more information.

3. Stay on top of your loans. Stay in contact with your loan servicer to update your contact information or to change your repayment plan. If you are having trouble making a payment contact your servicer to see if a deferment or forbearance is available. 

You may be eligible for loan forgiveness if you meet certain criteria. For more information visit the Student Aid website.

Cohort Default Rate

The FY 2017 three-year cohort default rate (the most recent data available) is a snapshot of the cohort of borrowers whose first loan repayments came due between Oct. 1, 2016 and Sept. 30, 2017, and who defaulted on or before Sept. 30, 2019.

The FY 2017 three-year national student loan cohort default rate is 9.7%.

Muskingum's FY 2017 three-year cohort default rate is 8.5%.

Student Loan Indebtedness

The average amount of debt incurred by our graduate students, for their master's degree program and certification at Muskingum, who graduated during the 2020-2021 academic year, was $30,983 (Federal Direct Loan, Graduate Plus, and Private loans included).

Cost of Attendance

Budgets are constructed for each term, using tuition and average loan fees. The budget also includes  $100 per credit hour for books and $7,500 per 10 weeks for all other expenses.

Policies, Rights and Responsibilities (including Satisfactory Academic Progress)

Withdraw Refund Process


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