For more information about financial aid for graduate students, visit the Penn State Office of Student Aid website.
Merit-based scholarships
You will automatically be considered for SIA merit-based scholarships, based on information collected from your admission application, as long as you apply by 11:59 p.m. (ET) on January 31 in the year you are applying. This evaluation is automatic and does not require any additional forms. Competitively awarded, SIA merit scholarships are offered to top applicants based on a combination of outstanding academic achievement; professional, work, and volunteer experiences; potential for scholarly contributions to the SIA community; holistic factors provided in a candidate’s personal statement; letters of recommendations; and other information submitted by the applicant. These scholarships may be renewable if you maintain the required criteria for eligibility. If you are awarded a merit scholarship, you will be notified in your official admission letter.
Unfortunately, we cannot award merit- based scholarships to every applicant. You should expect to use other scholarship and loan opportunities to help ease the burden of your education expenses.
Federal Loans
A variety of student loan sources are available to our students. The Federal Direct Unsubsidized Loan (also known as the Stafford Loan) is the financial resource most used by our students. Through this federally guaranteed loan program, students may borrow up to $20,500 per year. The student is responsible for the interest that accrues on that portion of the loan during times of enrollment, but no payments are required until after a student stops attending school at least half-time. For the 2021-22 academic year, the Stafford Loan has a variable fixed interest rate set at 5.28% with an origination fee of 1.057% deducted at disbursement. The rate for 2022-23 will be set in June.
Many students need more loan money than is available to them through the Federal Direct Unsubsidized Loan. These students turn to the Federal Direct PLUS Loan for Graduate Students (also known as Grad PLUS) or private educational loans. Applications for these loans require a credit check, so you will need a satisfactory credit history in order to borrow these loans. For the 2021-22 academic year, the Grad PLUS Loan has a variable fixed interest rate set at 6.28% with an origination fee of 4.228% deducted at disbursement. The rate for 2022-23 will become available in June. Interest rates and other fees on private loans vary.
You can learn more about all of these loans at studentaid.psu.edu/types-of-aid/loans/.
Applying for Financial Aid
As mentioned above, merit-based scholarships awarded by SIA do not require a separate application. If you wish to apply for other financial aid for the upcoming academic year, you should complete the following steps:
- If you wish to be considered for student loans, you must complete the 2021-22 FAFSA. You can find this form online at studentaid.gov. You should include school code 003329 (the code for all Penn State locations). You do not need to include parent information. You are encouraged to complete this no later than March 1, 2022.
- In the spring (or a couple of weeks after you file your FAFSA—whichever is later), you will receive a financial aid award email directing you to view your financial aid eligibility on LionPath (Penn State’s student portal).
- In the summer you should begin the process of completing loan promissory notes and entrance counseling at studentaid.gov.
Maintaining Good Financial Health
The best way to assure that your financial resources last throughout the academic year is to establish a personal budget for yourself and to stick to it. You will find a helpful tools at financialliteracy.psu.edu/.
Some students find it challenging to adjust to a student budget. Following are some common problems that can cause a student to experience financial difficulty:
- Maintaining a lifestyle that is beyond the student budget guidelines (for example, paying more than the budgeted amount for rent or other amenities);
- Paying more than the budgeted estimates for food or recreation;
- Maintaining an automobile (the cost of purchasing a car is not allowed to be factored into the student budget);
- Making payments on credit card debt with high interest rates (you should try to pay off your prior consumer debts before starting graduate school); or
- Damaging one’s credit history by missing payments or making late payments on bills (this will often render a student unable to borrow PLUS Loans or private educational loans).
It can be a challenge to maintain a good credit history while in school. Your resources may not seem to keep pace with your bills. But it is important to budget and manage your money wisely. If you keep yourself in a state of good financial health, you will have the option to turn to PLUS Loans or Private Educational Loans as a resource if you should need them. If you allow your credit history to deteriorate, these loans will be hard to acquire, which could leave you facing even greater financial difficulty.
It is a good idea to assess your credit history before you start applying for student loans. You can request a free copy of your credit report once each year from each of the three major credit bureaus at annualcreditreport.com. This can help you to determine whether you are creditworthy and able to obtain the financing necessary for your legal education.
International students must provide a financial guarantee in order to pursue higher education in the United States. Please visit the Directorate of International Student and Scholar Advising (DISSA) website to find the necessary information regarding the financial guarantees at University Park in order to receive an I-20.
Merit-based scholarships
You will automatically be considered for SIA merit-based scholarships, based on information collected from your admission application, as long as you apply by 11:59 p.m. (ET) on January 31 in the year you are applying. This evaluation is automatic and does not require any additional forms. Competitively awarded, SIA merit scholarships are offered to top applicants based on a combination of outstanding academic achievement; professional, work, and volunteer experiences; potential for scholarly contributions to the SIA community; holistic factors provided in a candidate’s personal statement; letters of recommendations; and other information submitted by the applicant. These scholarships may be renewable if you maintain the required criteria for eligibility. If you are awarded a merit scholarship, you will be notified in your official admission letter.
Unfortunately, we cannot award merit-based scholarships to every applicant. You should expect to use other scholarship and loan opportunities to help ease the burden of your education expenses.
Maintaining Good Financial Health
The best way to assure that your financial resources last throughout the academic year is to establish a personal budget for yourself and to stick to it. You will find helpful tools at financialliteracy.psu.edu/.
Some students find it challenging to adjust to a student budget. Following are some common problems that can cause a student to experience financial difficulty:
- Maintaining a lifestyle that is beyond the student budget guidelines (for example, paying more than the budgeted amount for rent or other amenities);
- Paying more than the budgeted estimates for food or recreation;
- Maintaining an automobile (the cost of purchasing a car is not allowed to be factored into the student budget);
- Making payments on credit card debt with high interest rates (you should try to pay off your prior consumer debts before starting graduate school); or
- Damaging one’s credit history by missing payments or making late payments on bills.
It can be a challenge to maintain a good credit history while in school. Your resources may not seem to keep pace with your bills. But it is important to budget and manage your money wisely.
Office of Global Programs
Additional financial aid information can be found on Penn State's Office of Global Programs' website. You may also find additional scholarship listings on the EducationUSA website.
