FAFSA covers graduate school, but the process and aid types differ from undergraduate

Yes, FAFSA (the Free process for Federal Student Aid) is used for graduate and professional school. You fill out the same form, but graduate students face different income calculations, different loan limits, and different types of aid available. The form itself asks whether you are an undergraduate or graduate student, and your answers change which programs you can access.

Graduate FAFSA opens on the same date as undergraduate FAFSA each year — October 1 — and the important date is typically June 30 of the following year, though your school may have an earlier priority important date. You must reapply each year you are enrolled in a graduate program.

Key Takeaways

  • Graduate students use the same FAFSA form as undergraduates but are treated as independent for income purposes, meaning your parents' finances do not count.
  • Federal loans for graduate school have higher borrowing limits than undergraduate loans, but interest rates and repayment terms differ by loan type.
  • Graduate students cannot receive Federal Pell Grants, but may receive Federal Work-Study and some institutional grants depending on the school.
  • Your school's financial aid office determines how much aid you receive and in what form, based on your FAFSA results and their own funds.

Graduate students are treated as independent on FAFSA

When you fill out FAFSA as a graduate student, you report only your own income and assets — not your parents' — regardless of whether they support you financially. This is different from undergraduate FAFSA, where most students must report parental income.

This shift matters because it lowers the Expected Family Contribution (EFC), now called the Student Aid Index (SAI). A lower SAI typically means a higher financial need calculation, which can open access to more federal aid. However, if you have substantial income or savings yourself, that will still reduce your aid may be able to access.

Federal loan options for graduate students

Graduate students can borrow Federal Unsubsidized Loans and Federal PLUS Loans (also called Grad PLUS Loans). These are the main federal loan types available; Subsidized Loans are not offered to graduate students.

Unsubsidized Loans accrue interest while you are in school. The interest rate is set by Congress and changes each year; for loans disbursed in the 2024–2025 academic year, the rate is 8.5 percent. You can defer payments while enrolled at least half-time, but interest continues to build. The annual borrowing limit is $20,500 per year, and the aggregate limit (total across all unsubsidized loans) is $138,500.

Grad PLUS Loans let you borrow up to the full cost of attendance minus other aid you receive. There is no annual cap — you can borrow $50,000 in a single year if your school's cost of attendance is that high. The interest rate for 2024–2025 is 9.5 percent. Grad PLUS requires a credit check, and you must not have an adverse credit history. Interest accrues when ready, and repayment typically begins while you are still in school, though you can request an in-school deferment.

Grants and work-study for graduate students

Graduate students cannot receive Federal Pell Grants, which are reserved for undergraduate study. However, you may receive Federal Work-Study if your school participates in the program and has funds available. Work-Study provides part-time jobs on or near campus, and the federal government subsidizes a portion of your wages.

Many schools also offer their own graduate grants or scholarships, funded by the institution itself. These are separate from federal aid and are awarded based on criteria the school sets — merit, field of study, financial need, or other factors. Your school's financial aid office determines whether you receive institutional aid and how much.

How to report graduate school on FAFSA

When you complete FAFSA, you enter your school's Federal School Code in the "Schools to Receive Your Information" section. If you are explore to multiple graduate programs, you can list up to ten schools on a single FAFSA form. Each school will receive your FAFSA results and can then calculate your aid package.

You must select your degree level correctly — the form asks whether you are pursuing a bachelor's, master's, doctoral, or professional degree (such as law or medicine). Selecting the wrong level can delay your aid processing or result in an incorrect aid calculation.

If you have already completed a bachelor's degree and are now pursuing a master's or doctorate, you report only your own income and assets. If you are pursuing a professional degree (JD, MD, DDS, DPM, OD, or DVM) when ready after high school without a bachelor's degree, you may still be treated as independent, but confirm this with your school's financial aid office.

Loan repayment plans for graduate borrowers

Graduate students who borrow Federal Unsubsidized Loans have access to several repayment plans. The Standard Plan repays the loan in ten years with fixed monthly payments. Income-Driven Repayment plans — including PAYE (Pay As You Earn), REPAYE (Revised Pay As You Earn), IBR (Income-Based Repayment), and ICR (Income-Contingent Repayment) — calculate your payment based on your discretionary income and family size, and can extend repayment to 20 or 25 years.

Grad PLUS Loans can be repaid under the Standard Plan or Income-Contingent Repayment (ICR) only. They are not may be able to access for PAYE or REPAYE. If you consolidate a Grad PLUS Loan into a Direct Consolidation Loan, you gain access to more repayment options, but consolidation also resets the interest accrual clock and may affect forgiveness programs.

Private loans and other funding sources

If federal aid does not cover your graduate school costs, you can explore private student loans from banks, credit unions, and online lenders. Private loans typically require a credit check and may require a co-signer. Interest rates and terms vary by lender and your credit profile. Unlike federal loans, private loans do not offer income-driven repayment or public service loan forgiveness.

Many graduate programs offer assistantships — teaching, research, or administrative positions that provide tuition coverage, a stipend, or both. These are often the largest source of funding for graduate students in master's and doctoral programs. Your program's department or graduate admissions office can explain what assistantships are available and how the process works.

Frequently Asked Questions

Do I have to report my parents' income on graduate school FAFSA?

No. Graduate students are treated as independent on FAFSA, so you report only your own income and assets. Your parents' finances do not affect your federal aid calculation, even if they help pay for school.

Can I get a Pell Grant for graduate school?

No. Federal Pell Grants are available only to undergraduate students. Graduate students can borrow federal loans and may receive institutional grants or work-study, but not Pell.

What is the difference between Unsubsidized Loans and Grad PLUS Loans?

Unsubsidized Loans have a lower interest rate (8.5 percent for 2024–2025) and an annual borrowing limit of $20,500. Grad PLUS has a higher rate (9.5 percent) but no annual cap — you can borrow up to your full cost of attendance. Grad PLUS requires a credit check and typically requires repayment to begin while you are in school.

Do I need to fill out FAFSA every year of graduate school?

Yes. You must complete FAFSA each academic year you are enrolled in a graduate program. Your aid package may change based on your income, enrollment status, and the school's available funds.

Can I use federal loans to pay for professional school like law or medical school?

Yes. Law students, medical students, and other professional degree candidates can use Unsubsidized Loans and Grad PLUS Loans. Professional schools often have higher costs of attendance, which increases the amount you can borrow under Grad PLUS. Some professional schools also offer their own loan programs or scholarships.