Alfred University provides substantial financial support for graduate study. Most of the University funded assistance is provided in the form of assistantships and fellowships. In addition to its own resources, the University participates in federal aid programs that are applicable to its degree programs. The majority of this funding is in the form of low interest student loans. This section highlights and summarizes the available funding sources. Questions and requests for further information should be directed to the Office of Student Financial Aid.
Alfred University Funded Aid
Assistantships and Fellowships
Award values vary widely. University funded assistantships may range from a work stipend only to a combination of tuition grant, up to full-tuition, and a stipend. All University sponsored assistantships will require a work commitment from the student. Work assignments may include research, teaching, faculty assistance and administrative support.
Assistantships and Fellowships are determined and awarded by the academic departments and faculty advisors. In the assignment of assistantships, factors such as academic record, purpose in graduate study, professional accomplishments, employment experience as well as personal skills and character may be considered. Most assistantship awards are made prior to enrollment during the admissions process. However, some additional assistantship funding may become available after enrollment depending on the timing of research contracts and grants secured by the faculty.
Generally speaking, all full-time students in programs leading to the degree of Master of Arts, Doctor of Psychology, Master of Science in Education, and Master of Business Administration are offered a University funded half-tuition assistantship upon admission. Seventy-five percent of the assistantship value is paid as a tuition grant and twenty-five percent is paid through payroll as a stipend for the work commitment. In addition to the half-tuition assistantship many students also receive additional funding.
Students admitted into the Master of Fine Arts Program receive assistantships, which provide a full-tuition grant and a stipend for the academic year. Graduate assistants are required to serve as teaching assistants or provide administrative support to fulfill their award obligation. Students must be enrolled full-time to receive the assistantship.
Upon a successful review of the application for admission, graduate students admitted to the School of Engineering initially receive a work stipend assistantship. After acceptance, students may be considered for additional assistance as opportunities become available through various faculty research contracts and grants or teaching assistantships. This additional assistance may be additional work assignments and/or tuition assistance. Tuition assistance may range up to full-tuition with an annual stipend. These opportunities are determined by the individual faculty members based on a student’s background and expertise in light of a particular research project’s available funding and needs. Assistantship activity in the School of Engineering is coordinated by the graduate program director.
War Memorial Graduate Scholarship
This award provides the income from an endowment, approximately $500 per year, to be awarded to an Alfred University graduate who will attend the Alfred University Graduate School full-time for an academic year. Eligible students may indicate their interest to the Office of Student Financial Aid. Awards are based on need and academic performance. An attempt is made to rotate the award among the various programs in the Graduate School.
Marguerite A. Coughlin Endowed Scholarship
This award provides a partial tuition grant to a part-time education graduate student. Eligibility criteria require applicants to be enrolled in a Master of Science in Education degree program, seeking state certification, a resident of Allegany or Steuben County, New York, currently employed as a teacher, and committed to teaching as a career. Need for assistance is also considered. Application may be made by contacting the Executive Director Student Financial Services by April 15 of each year.
Federal Loan Opportunities
Graduate students are eligible to apply for federal financial aid coordinated by the Alfred University Office of Student Financial Aid. The following programs are available:
Federal Direct Loan (FDL)
The Federal Direct Loan (FDL) is a federal financial aid program under which loan funds are made available to students for educational expenses. FDL provides low-interest loans, available to undergraduate and graduate students who are matriculated in a degree program for at least six credits per semester and who are U.S. citizens or permanent residents.
The FDL Program makes two types of loans available to students; a subsidized loan and an unsubsidized loan. Only unsubsidized loans are available to graduate students.
Under the unsubsidized FDL Program, the student is responsible for making the interest payments while enrolled in school. There are two options available regarding these interest payments. Students may make monthly interest payments while enrolled, or the student may agree to add the interest due to the principal of the loan (this is called capitalization) at repayment.
Direct loans have a federal loan fee deducted at disbursement. The interest rate is a fixed rate, which is set by the federal government. The Federal Direct Unsubsidized Loan interest rate is currently 8.08% for graduate students. This interest rate is set annually by the federal government. This interest rate is expected to change on July 1, 2025. Graduate Students may borrow up to $20,500 unsubsidized loan each academic year. Students may not borrow more than the annual loan limit. Also, a student's annual FDL may not exceed the approved federal cost of attendance minus any other types of financial aid.
Generally, repayment of loan principal begins six months after the student ceases to be enrolled on at least a half-time basis. The standard repayment period may extend up to ten years depending on the total amount borrowed. The minimum monthly payment is$50. Several other repayment plans are available as well.
To receive a FDL, students must annually file the Free Application for Federal Student Aid (FAFSA), complete Entrance Counseling, and complete a FDL Master Promissory Note/Loan Agreement (MPN).
Although the FAFSA must be completed for each academic year, Entrance Counseling and the FDL MPN are one-time requirements to be completed prior to borrowing the first loan.
Federal Direct PLUS Loans
The Federal Direct PLUS Loan is a federal educational loan program which provides low-interest loans, available to parents (Parent PLUS Loan) of dependent undergraduate students and to graduate students (Grad PLUS Loan). The graduate student borrower must be a U.S. citizen, permanent resident, or eligible noncitizen and must be attending at least half-time (six credits per semester) in a degree granting program.
The Federal Direct PLUS Loan is not a need-based loan or based on a specific income level. However, to participate, borrowers must demonstrate a satisfactory credit rating according to federal guidelines and credit standards. An applicant's credit standing is determined upon receipt of a PLUS Loan application. Applicants determined to have an adverse credit history, may receive a loan if the applicant obtains a credit worthy endorser or successfully appeals a credit decision.
PLUS borrowing is limited to the cost of education minus other financial aid resources. PLUS loans currently have a fixed interest rate of 9.08% which is set annually by the federal government. This interest rate is expected to change on July 1, 2025. The interest is not subsidized while the student is in school and will begin to accrue with the first disbursement. Federal regulations require that a loan fee be deducted from the loan at disbursement.
The PLUS Loan repayment period begins 60 days after full disbursement of the annual loan amount. For example, a loan made for the 2025-2026 academic year would be “fully disbursed” with the spring semester 2026 loan payment in early January, making the first loan payment of principle and interest due in early March 2026.
The monthly payment and the repayment period will depend on the amount borrowed. The minimum monthly payment will be at least $50, and the standard repayment period may extend up to 10 years. Several other repayment plans are available as well. Grad PLUS Loan borrowers enrolled on at least a half-time basis (6 or more credit hours) may receive a deferment for repayment of principal and interest during enrollment, and for up to 6 months after leaving school.
To receive a PLUS Loan, the Free Application for Federal Student Aid (FAFSA) must be filed annually for the student. The borrower must complete a PLUS Loan Master Promissory Note/Loan Agreement (PLUS MPN), annually request a loan and demonstrate satisfactory credit. Although the FAFSA and a loan request must be completed for each academic year, the PLUS MPN needs to be completed only once. Loan counseling is required for Graduate Students. Entrance Counseling is a federal requirement for all Graduate PLUS borrowers. PLUS Entrance Counseling only needs to be completed once, prior to receiving the first Grad PLUS Loan.
Assistantships and Fellowships
Activity for assistantships and fellowships is coordinated through the Alfred University Office of Graduate Admissions and the appropriate academic departments. The individual academic departments make specific award decisions.
Generally, a completed application for admission and the student’s subsequent acceptance will initiate consideration for a University funded assistantship. However, procedures can vary among the academic departments.
Any necessary application criteria or special requirements regarding assistantship funding will be communicated to students by the academic departments or the Office of Graduate Admissions.
Graduate students wishing to be considered for University and federal aid (Direct Loan, Graduate PLUS Loan, and Work-Study) are to complete a Free Application for Federal Student Aid.