Creating Your Financial Plan

We’re committed to helping you figure out a plan that allows you to pursue your master’s degree while staying comfortable with your financial investment.

We suggest you begin the financial aid process as soon as possible. You should file you’re FAFSA and make your loan request(s) at least four weeks prior to the start of classes.

A few key things to keep in mind when applying:

  • The FAFSA must be filed annually.

    It is valid for the full academic year and is available until June 30 for each year. This means that the 2019–2020 FAFSA must be filed by June 20, 2020.

  • Fordham’s academic year begins with the fall term and ends with the summer term.

    Each fall term, students can receive up to $20,500 in Federal Direct Unsubsidized Loan funds. If eligible for the maximum amount, the $20,500 will be divided and disbursed over the fall, spring, and summer terms.

  • Take origination fees into consideration!

    An origination fee is an upfront fee deducted from each Federal Direct Loan disbursement. It is charged by the federal government to help cover administrative fees associated with the federal loan programs.

Start by estimating your charges for each semester:

Use Fordham’s per-credit tuition rate, fees per term, and the amount of credits in your specific program as a guide for your calculation.

  • $1,442 per credit
  • $323 estimated fees per term (fall and spring only)
  • One-time fee of $170 in initial term
  • Some program track options require 36 credits; others require 45

Then, consider options that can help reduce borrowing:

  • Tuition assistance opportunities
  • Scholarships
  • Military benefits (if applicable)
  • Out of pocket payments/personal resources

Review your borrowing options for the remaining balance:

1. Federal Direct Unsubsidized Loan:

  • Requires a valid FAFSA
  • Capped at $20,500 per academic year
  • 6.08 fixed interest rate for loans disbursed in the 2019-2020 academic year
  • 1.059% origination fee for loans disbursed in the 2019-2020 academic year
  • Flexible repayment options
  • Lifetime (undergraduate and graduate) borrowing limit for Federal Direct Subsidized/Unsubsidized Loans is $138,500

If additional funds are required to satisfy your balance:

2. Federal Direct Graduate PLUS Loan

  • Requires a valid FAFSA and no adverse credit history (this will require a credit check)
  • You may borrow up to your Cost of Attendance minus any other financial assistance you receive
  • 7.08 fixed interest rate for loans disbursed in the 2019-2020 academic year
  • 4.236% origination fee for loans disbursed in the 2019-2020 academic year

3. Private Education Loan

  • Interest rates and repayment plans depend on individual private lenders
  • Credit-based loans (will require a credit check)
  • You may borrow up to your Cost of Attendance minus any other financial assistance you receive

Use our Direct Loan Checklist to confirm you’ve followed all the steps necessary to receive your Federal Direct Loan(s) for the upcoming academic year.

Estimated Total Tuition Payments

(Based on 21 Credit Enrollment for 2020–2021 Academic Year)

Estimated Total Tuition Payments
Semester Enrolled Credits Tuition ($1,442 per credit) Fees ($323 per term) Estimated Direct Expenses
Fall 2020 6 $8,652 $323 $8,975
Spring 2021 9 $12,978 $323 $13,301
Summer 2021 6 $8,652 $323 $8,975
Total for 2020–2021 Academic Year 21 $30,282 $969 $31,251

Financing Example

The table below illustrates how a student may borrow funds to cover their direct expenses. (Does NOT Include Origination Fee):

Financing Example
Semester Federal Direct Unsub. Graduate PLUS (Credit Check Required) Total Per Term:
Fall 2020 $6,833 $2,142 $8,975
Spring 2021 $6,834 $6,467 $13,301
Summer 2021 $6,833 $2,142 $8,975
Total for 2020–2021 Academic Year $20,500 $10,751 $31,251

Estimated Monthly Payments:

Estimated Monthly Payments
Loan Type Monthly Payment Payment Plan
Unsubsidized Loan $4251 Standard 10-Year Payment Plan
Graduate PLUS $501 Standard 10-Year Payment Plan
Total Monthly Payment $4751 Standard 10-Year Payment Plan

Request your Federal Direct Unsubsidized Loan
Request your Federal Direct Graduate PLUS Loan

1 These monthly payments are based on the standard 10-Year Repayment Plan. There are many other repayment options that allow you to extend repayment or have a payment tied to your income.