Financing your education
Types of Aid
The types of aid are generally federal, institutional, or private.
IPS assists students based on merit and need through assistantships and a limited scholarship fund.
Students are encouraged to obtain private sources of grants and loans whenever possible. Many private organizations and foundations provide grant funds to students.
Limited in number, IPS Scholarships are gift aid to students. For more information, call 703.416.1441 x 121.
Depending on the award amount, assistantships require between 10-12 hours of work per week, for a total of 150 hours for each semester, respectively. Teaching, research, and clinical assistantships are available to Psy.D. students beginning not sooner than the 3rd year; research and administrative assistantships are available to M.S. students. The assistantship assignments are determined by a team of faculty and staff. All student workers are required to submit bi-weekly time records, signed by their supervisor, to the Financial Aid Office in order to earn the full amount of the tuition reduction associated with their assistantship award. The amount of the tuition reduction associated with each assistantship award varies, and all awards are primarily merit-based, and secondarily need-based. Students apply for assistantships by submitting an Application for Institutional Aid, available in the Financial Aid Office and on our website. Please note: award amounts vary depending on program year and type, and applications are due March 1st.
- IPS Financial Aid Application form (included in your IPS Application for Admission, or here.)
- International Students: please complete the IPS International Aid Application.
Federal Financial Aid
Students attending IPS have access to federal student financial aid programs, including the Federal Work-Study Program and the William D. Ford Federal Direct Loan Program.
The Institute has a program participation agreement with the United States Department of Education to participate in the Title IV Federal Financial Aid Program (Title IV).
Federal Work-Study Program
The Federal Work-Study Program is need-based, and positions and hours per week vary. Time records, signed by the supervisor, are required for this program, which is paid by the hour in the form of a bi-weekly paycheck. The total amount of the award is stated in the award letter, and is determined by the level of need and type of position in which the student will work.
IPS participates in the William D. Ford Federal Direct Loan Program, through which Title IV federal student loans are available to assist eligible students in meeting their educational costs. These federal aid funds include Stafford unsubsidized loans up to a maximum award of $20,500 for the academic year. Grad Plus loans or private loans are available for the remaining cost of attendance should the student desire these options. For information about Direct Loans, please go to the following website: https://studentloans.gov. Information and examples of Refunds for Title IV Funds can be found at the end of the Financial Aid section of the catalog.
The types of loans are listed below:
- Stafford Unsubsidized: $20,500 annual maximum
- Grad-Plus: amount up to the student’s Cost of Attendance
- For the Youtube page on federal aid, click here.
IPS is also able to offer interest-free installment payments, with no set-up fee. For more information about setting up a payment plan, please contact the Business Office (703.416.1441 x. 113).
All degree programs offered at the Institute for the Psychological Sciences have been approved for Veterans Educational Benefits by the Virginia State Approving Agency for Veterans Education and Training. More
Alternative & Private Loans require separate applications and have different interest and repayment requirements.
GI Bill Funding Eligibility
IPS programs are now approved for veterans benefits under the GI Bill. Go to http://www.gibill.va.gov/ for more information.
Yellow Ribbon G.I. Bill Education Enhancement Program
IPS is approved for the Yellow Ribbon G.I. Bill Education Enhancement Program, also known as the Yellow Ribbon Program, beginning with the academic year August 1, 2014 to July 31, 2015.
The program agreement permits the school and the VA to provide matching funds to cover all or a portion of the outstanding amount of established charges not covered under the Post-9/11 GI Bill.
Link for list of schools approved for the GI Bill: