Financial Aid Guide
2022-2023
Graduate Students
Cost Calculating Your Costs and Financial Aid Eligibility
Understanding Your Financial Aid Summary
To evaluate your financial aid eligibility, each academic year USC establishes an estimated cost of attendance (COA) that reflects the amount it will cost you to go to school. The estimated COA includes:
Your financial aid summary is where you will find your estimated cost of attendance, as well as information about the maximum amount of financial aid for which you are eligible.
• Tuition and mandatory fees, based on your enrollment plans and estimated Direct Loan fees you may pay. • Average costs for housing, dining, and other living expenses. • Average costs for standard educational expenses such as books and supplies. See next page for estimated cost of attendance charts for master’s and doctoral students. It is important to note that housing and dining estimates are based on the assumption that students may not maintain the same standard of living they did while employed. This may mean cutting expenses by living with roommates, preparing more meals at home, and making other lifestyle adjustments. Also keep in mind that your actual costs may differ. Estimated budgets for students in some programs may be higher or lower due to longer or shorter enrollment periods, special laboratory or studio supply fees, or other additional costs incurred by all students in the program. We recommend visiting departmental websites for more information.
The estimated remaining cost after financial aid represents the amount you may need to pay using a combination of personal resources and other financing options, such as loans. Please note that scholarships received after your financial aid summary is posted will be coordinated into your summary within the estimated cost of attendance and may reduce previously received loan disbursements.
How to Request a Change to Your COA For additional loan eligibility, you may consider submitting a budget increase/appeal to increase your estimated cost of attendance. Typical appeals include tuition charges above the estimated unit count and/or additional housing, medical, or other expenses required for you to complete your program that are not reflected in the COA. Budget increase requests require additional documentation and are subject to a maximum allowance according to university policy. For more information, visit financialaid.usc.edu/grad-special-circumstances.
Remember: Your financial aid summary is not a bill, and your actual costs may be higher or lower than estimated, depending on your enrollment and personal living expenses.
2022-2023 Estimated Annual Cost of Attendance 2022-2023 Masters Flat Rate 15-18 units per semester
Full-Time
Half-Time
8-14 units per semester 4-7 units per semester
Dissertation 2 units per semester
Estimates below are based on 10 units of study.*
Estimates below are based on 6 units of study.*
63,468
42,740
25,644
8,548
2,715
2,715
2,715
1,661
Housing
12,600
12,600
12,600
12,600
Dining
6,930
6,930
6,930
6,930
Books and Supplies
1,200
900
600
300
Personal and Miscellaneous
2,422
2,422
2,422
2,422
Transportation
2,628
2,628
2,628
2,628
91,963
70,935
53,539
35,089
Tuition Fees
Total
*Students will be billed at the unit rate for the actual number of units they enroll in.
2022-2023 Doctoral Flat Rate
Full-Time
Full-Time
Half-Time
10-14 units per semester
6-9 units per semester
3-5 units per semester
Estimates below are based on 12 units of study.*
Estimates below are based on 8 units of study.*
Estimates below are based on 4 units of study.*
63,468
51,288
34,192
17,096
8,548
Fees
2,941
2,941
2,941
1,887
1,887
Housing
12,600
12,600
12,600
12,600
12,600
Dining
6,930
6,930
6,930
6,930
6,930
Books and Supplies
1,200
900
900
600
300
Personal and Miscellaneous
2,422
2,422
2,422
2,422
2,422
Transportation
2,628
2,628
2,628
2,628
2,628
92,189
79,709
62,613
44,163
35,315
15-18 units per semester
Tuition
Total
*Students will be billed at the unit rate for the actual number of units they enroll in.
Dissertation
2 units per semester
Payment and Financial Aid Managing Your USC Billing Balance and Expenses Savings If you would like to pay all or part of the student account balance from your savings, you can pay the Cashier’s Office online, by phone, by mail or in person.
USC Payment Plan and USC Tuition Prepayment Plan The USC Payment Plan allows you to pay your balance in monthly installments over the course of the semester. The USC Tuition Prepayment Plan allows you to prepay full-time tuition and mandatory fees for future years at the current rates. Prepaid amounts are not subject to future tuition and fee increases. Graduate student eligibility may be limited. For more information visit sfs.usc.edu.
Federal Loans Your eligibility for loans is based on your full cost of attendance. However, you should not borrow the full amount for which you are eligible if you are still meeting some of your costs through income from work. Additionally, please note that the use of federal aid is restricted to valid educational costs only, and you may be required to sign a statement verifying your use of loan funds. For more information, visit studentaid.gov. Please also refer to the final pages of this brochure for important information and best practices when applying for and utilizing loans.
To check out various scholarship opportunities that may be available to you, visit usc.scholarshipuniverse.com.
Applying for Financial Aid Summer Terms If your program requires mandatory enrollment in summer terms, those terms will be included in your financial aid summary. If you plan to enroll in optional summer terms, please submit the Summer Loan Request Form (available via your FAST page) in March to apply for summer financial aid.
Reapplying for 2023-2024 Continuing students must reapply for financial aid each year. Application deadlines and instructions will be available at financialaid.usc.edu. It is your responsibility to obtain application instructions online and apply on time.
Other Funding Sources
Financial Literacy
Other sources of funding, such as scholarships, assistantships, and Federal Work-Study, can help cover your tuition or living expenses and do not have to be repaid after you graduate.
To learn more about managing your finances, please visit iGrad, a free online platform that empowers students and their families to make sound financial decisions, now and in the future. Sign up for an account at usc.igrad.com using your USC Net ID.
Available through your FAST page at financialaid.usc.edu/fast, the Planning Worksheet is an interactive tool that allows you to: • View a list of your current semester charges and available resources. • Choose which resources are the best fit. • Try different payment options until you find the plan that works best for you.
Receive Your Funds Fund Type
USC Scholarships and Fellowships
Next Steps
Monetary assistance awarded by USC academic units will be included in your financial aid summary and disbursed to your USCe.pay account in the form of tuition remission or a stipend to assist with basic living expenses according to the requirements outlined by your department. Please contact your department directly if you have questions about these awards.
Have the outside agency mail your scholarship check to:
Outside Agency Scholarships
USC Financial Aid Office University of Southern California 700 Childs Way, JHH 325 Los Angeles, CA 90089-0914 Attn: Aid Coordination Unit If you received a scholarship not listed in your financial aid summary, please submit a copy of the notification letter from the agency, listing the name and the amount of the award. The letter may be uploaded directly to your FAST page or mailed to the address listed above.
Federal Work-Study provides part-time job opportunities for on-campus 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. Federal Work-Study
If you have been awarded Federal Work-Study (FWS) and wish to take advantage of this award, you must be employed in an eligible FWS job. See our website for more information regarding FWS. To view on-campus job listings, visit ConnectSC on the Career Center website at careers.usc.edu.
Employer Tuition Reimbursement
To coordinate tuition assistance benefits provided by your employer, contact Agency Billing at agbill@usc.edu. For more information, refer to Student Financial Services at sfs.usc.edu.
Veteran Educational Benefits
U.S. military veterans are encouraged to apply for all types of financial aid for which they may be eligible. To get assistance coordinating your GI benefits, contact the USC Veterans Resource Center by emailing vets@usc.edu or calling (213) 740-4619. For more information, visit vrc.usc.edu.
1. Complete the Direct Unsubsidized Loan Request form online by logging in to your Financial Aid Summary and Tasks (FAST) page at financialaid.usc.edu/fast. You will find the form in the Document Library. Once the Financial Aid Office processes your loan and notifies the Department of Education, we will email you confirmation. Direct Loans
2. Sign your Master Promissory Note (MPN) online at studentaid.gov. To log in, follow the instructions provided on the homepage. 3. First-time borrowers of Direct Unsubsidized loans at USC are required to complete loan counseling through iGrad, a leader in student financial literacy, at usc.igrad.com/ lesson/entrance-counseling. To access the course, you must log in with your USC NetID.
Receive Your Funds (cont.) Fund Type
Next Steps 1. After borrowing your annual or aggregate Direct Unsubsidized loan eligibility, you may submit a request for the Direct Graduate PLUS loan by visiting studentaid.gov and following the instructions provided. Once you have completed the process, the Department of Education will notify USC.
Direct Graduate PLUS Loan
2. Once your loan has been approved, sign your Master Promissory Note (MPN) for the PLUS loan online at studentaid.gov. 3. First-time borrowers of Direct Graduate PLUS loans at USC are required to complete online PLUS loan counseling through iGrad. Borrowers approved with endorsers or appeals will need to complete Enhanced PLUS Counseling in addition to the Entrance Counseling. 4. USC processes a separate Graduate PLUS loan for each enrolled term. If you wish to borrow the Graduate PLUS loan for multiple terms, please submit a separate application for each term.
Private Financing
Students should use all Federal Title IV assistance available, including the Direct loan and the Direct Graduate PLUS loan, before considering a private student loan program. The repayment terms of federal loan programs may be more favorable than the terms of private loan programs. USC does not recommend, promote, nor endorse private lenders. If you choose to pursue private financing, you may use the ELM Select tool or the Credible loan comparison marketplace available on our website. For more information, visit financialaid.usc.edu/ loans/private-financing.
•
Important Loan Information Type of Loan
Interest Rate 6.54%
1.057%
(for loans first disbursed between July 1, 2022 and June 30, 2023)
(fee effective October 1, 2020 until October 1, 2023)
7.54%
4.228%
(for loans first disbursed between July 1, 2022 and June 30, 2023)
(fee effective October 1, 2020 until October 1, 2022)
Variable
Variable
Direct Unsubsidized This is the first loan you should apply for to cover your cost of attendance.
Origination Fee*
Direct Graduate PLUS Loan This credit-based Direct loan may be borrowed on top of the Direct Unsubsidized loan to cover your remaining cost of attendance for the term.
Private Financing
*The origination fee for Direct loans will be deducted from the loan by the U.S. Department of Education prior to disbursement.
Loan Limits for Direct Loans
Annual
Aggregate
Graduate/Professional Students
20,500
138,500
Master of Public Health, Master of Health Administration Students
33,000
224,000
Pharmacy Students (PharmD)
33,000
224,000
First-Year Medical Students (MD)
44,944
224,000
Second- and Third-Year Medical Students (MD)
47,167
224,000
Fourth-Year Medical Students (MD)
42,722
224,000
First-, Second-, and Third-Year Dental Students (DDS)
47,167
224,000
Fourth-Year Dental Students (DDS)
40,500
224,000
The amounts listed above are for both Subsidized and Unsubsidized Direct loan limits. The amounts students may borrow annually are based on their program of study and academic level. See the “Loans” section of our website for more information.
Loan Advisory Your student loan is real money. You have to pay it back, so borrow wisely. When you accept a loan, you accept legal and financial responsibilities that last until the loan is repaid. Loans must be repaid with interest, which begins to accrue when you: • Receive your initial loan disbursement; OR • Cease to be enrolled in school at least half-time. To reduce your total debt, borrow only what you need. You are not required to borrow all the loans you are eligible for. Try to make some interest payments on your loans while still in school or during your grace period.
Loan History To review your financial aid history and to better understand your federal student loan indebtedness, log in to studentaid.gov. You will need your name, date of birth, Social Security number and FSA ID to access your confidential record. You may view loans disbursed while attending USC in the “Loan History” tab on your FAST page. If you have borrowed from one or more of the non-federal private financing programs, more information about those loans can be obtained from your lender or on your credit report at annualcreditreport.com.
Loan Forgiveness Programs Federal loan forgiveness programs for graduates employed in education and public service are offered through the U.S. Department of Education. For more information and eligibility requirements, please visit studentaid.gov.
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You will establish good credit by repaying your student loan. Paying your student loan on time affords you the chance to build a solid credit history; defaulting on your loan can have serious, long-term consequences. Be sure to notify the U.S. Department of Education or your lender/servicer if your address or name changes, if you withdraw from USC, or if you drop to below half-time enrollment.
Loan Debt, Deferment and Repayment Resources Several options are available for repayment of your student loan, allowing you to choose the one that best meets your financial needs. You are able to change repayment plans at least once a year. More information regarding repayment plans can be found on the Federal Student Aid website at studentaid.gov. You may also visit iGrad at usc.igrad.com for information and resources about loan repayment. To compare plans you could be eligible for and view estimates for how much you would pay monthly or over the life of the loan, please visit the “Manage Loans” pages at studentaid.gov. A deferment is the temporary postponement of payments on your student loan. Your servicer can advise you on your eligibility for a deferment. Deferments may be granted while you are enrolled at least half-time; during the six-month grace period after you graduate or drop below half-time; during periods of economic hardship or unemployment; or while you are actively serving in the military during times of war, national emergency, or military operations. Note: Private loans are not typically eligible for deferments. If your servicer requests verification of USC enrollment when you are requesting deferment, please visit arr.usc.edu/ verification to obtain the necessary documentation.
USC Financial Aid Office (213) 740-4444 financialaid.usc.edu/contactfao