• Graduate students are not eligible for the subsidized version of the Federal Direct Loan.
• The maximum annual Unsubsidized Stafford Loan amount (if you have not reached your lifetime limit) is $20,500.
• The lifetime limit for Federal Direct Loans (including undergraduate subsidized and unsubsidized loans) is $138,500.
• Loans will not be awarded for summer from a future aid year, even if you are graduating in fall.
• You do not have to borrow the full amount. Use Mustang Express to reduce the loan amount or decline the loan entirely.
• Your Financial Aid Cost of Attendance Budget limits loan funding each semester and is adjusted based on your enrollment level.
• Loans are typically split between Fall, Spring and Summer (for example, $8,200 / $8,200 / $4,100). Students who are not attending summer may request a reallocation to Fall/Spring by submitting the Graduate Student Loan Reallocation Request form.
• You must be enrolled at least half time to receive a loan — 5‑6 credits in Fall & Spring, or 3 credits in Summer. There is no appeal for the enrollment requirement.
• Before receiving a loan, complete Graduate Entrance Counseling and have a valid Master Promissory Note (MPN). Both can be completed at studentaid.gov using WNMU school code 002664 and your FSA ID.
• If you are not interested in accepting a student loan, decline it in Mustang Express.

Graduate students may be eligible for both the State of New Mexico Work‑Study program (for New Mexico residents) and the Federal Work‑Study program.

• These programs are need‑based: you must have a valid FAFSA and complete any verification or other documentation requested by the FAFSA or the Office of Financial Aid.
• If you accept student loans, you might not be eligible for work‑study unless you decrease the loan amount accepted. You must have “unmet need,” which is the difference between your Expected Family Contribution (EFC) and your budget.
• Student employment jobs are listed in Mustang Express on the Student tab. Apply through this link. Work‑study requests cannot be processed during the period from one week before school starts through the week after Add/Drop.

High-achieving students preparing to teach in high-need subject areas may qualify for the Federal TEACH Grant.

This grant does not have to be repaid if you meet the service obligation: after graduation you must teach full time for at least four years in a high-need field at a low-income school (within eight years of completing your program).

If you do not complete the service obligation, the grant converts to a Direct Unsubsidized Loan and interest is charged from the date the grant was paid.

Eligibility is limited to certain WNMU teaching programs. For more information and to apply, visit studentaid.gov.

Graduate loans are paid in two installments per semester. The first is after the end of Add/Drop and the second is after midterm grades are reviewed. All student charges will be deducted from the first half of the loan before any refund is processed. The second payment will be cancelled if you are no longer enrolled in at least six credits, if you are not passing your classes per your midterm grades, if you have ceased attending or participating in at least six credits, or if you are otherwise no longer eligible under federal rules.

No loan funds can be paid for classes that have not begun. If your fifth credit of enrollment in aided classes has not begun, no aid can be paid. The aid will still be counted as pending aid, but you will not be disenrolled if the aid is covering the bill and you have completed the rest of the requirements.

Teach Grants are prorated, much like the undergraduate Federal Pell Grant. If you are enrolled half time, you will receive half of a full semester’s eligibility. These funds are paid as the classes begin.

Federal or State Work‑Study is paid as a paycheck, with the student being paid as they work. Each award is set to be the maximum a student can work for the year. For example, if the student has a $3,000 award and is earning $9.00 per hour, then the student can work 333 hours in that year. Students will generally need to be enrolled at least half time to receive work‑study, although there may be limited ability to work when enrolled below half time with Federal Work‑Study only.

Financial aid is given not only for enrollment in classes, but for attendance. Aid must be removed from students even after payment if they do not attend classes.

Students who enroll but do not attend classes are subject to the federally required Return of Title IV policy.

This includes students who:

‑ Officially withdraw from all classes before completing 60% of the semester.
‑ Do not officially withdraw but stop attending all classes, in person or online.
‑ Fail or a combination of fail and withdraw from all classes (this is considered an unofficial withdrawal).

In all cases, the reason—even serious illness—is not a factor in the requirement for aid to be returned. Students who can show documentation that they attended past the reported non‑attending date will be recalculated upon written request and submission of acceptable documentation.

For example, a student who borrowed $4,000 for the semester but completed only 25% of the semester would have to return $3,000. This would result in an unpaid bill with the school and/or the Federal Loan fund.