Future Students » Financing your education » Types of Aid

Types of Aid

Scholarships and Grants -- Review our database of organizations and foundations that support students pursuing graduate studies in psychology. You are responsible for applying directly to the various organizations. Qualifications, monetary amounts and deadlines vary, but there is funding
available!

IPS Scholarships – Limited in number and varying in amount, IPS Scholarships are gift aid to students.

IPS Assistantships -- This program consists in working for IPS in exchange for a tuition reduction. Weekly hour requirements and the amount of the tuition reduction vary. However, an example would be a student working 10 hours per week for his/her tuition to be reduced by $2500 each semester.

Federal Workstudy -- This program furnishes working positions, both on and off campus; students are paid bi-weekly in the form of a paycheck. The pay-rate and hourly requirements vary, but are generally calculated to be comparable to the value of Assistantships awarded that year.

Payment Plans -- IPS gives students the option of paying their tuition in increments throughout the semester. For more information about setting up a payment plan, please contact the Business Office.

Federal Direct Loans -- IPS participates in the William D. Ford Direct Lending Program. For more information, go to the website studentloans.gov. The types of loans are listed below:

  • Stafford Subsidized: $8,500 annual maximum, 6.8% fixed interest rate, no interest is charged while the student is in school at least half time and during grace & deferment periods.
  • Stafford Unsubsidized: $12,000 annual maximum, 6.8% fixed interest rate.
  • Grad-Plus: amount up to the student’ s Cost of Attendance, 7.9% fixed interest rate.

Please note: as a result of the The Budget Control Act (BCA) of 2011, effective for loans made for periods of enrollment (loan periods) beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Federal Direct Subsidized Loans. The terms and conditions of Direct Subsidized Loans received by any student for loan periods beginning before July 1, 2012, for graduate study are not affected by this change. The annual loan limit for graduate and professional students remains unchanged at $20,500, but this amount will now be limited to Direct Unsubsidized Loans.


Private Loans -- Alternative & Private Loans require separate application and have different interest and repayment requirements. Contact the Financial Aid Office for more information.