Graduate Financial Aid

Students must complete the Free Application for Federal Student Aid (FAFSA), which determines their eligibility for financial aid. The FAFSA is required for each academic year a student is enrolled at Salem State in a degree-seeking program. The FAFSA is free of charge to all students.

The 2024-2025 FAFSA will be available by December 31, 2023. Students will be considered for all federal, state, and institutional aid based on their completed and verified FAFSA information. The FAFSA is required to be considered for Salem State scholarships and many other scholarships.

To apply for financial aid, complete the following steps:

1. Create an account at studentaid.gov. The account username, an FSA ID, and password allow students to complete and sign the FAFSA electronically.
2. While completing the FAFSA, students must provide personal demographic and financial information, such as their federal income tax returns, W-2 forms, bank statements, and information on their investments.
3. Be sure to list Salem State University in the school information section so we may receive your FAFSAinformation. Salem State's Federal School Code is 002188.
4. Complete, electronically sign, and submit the FAFSA.

Minimum Credits and Academic Standing

Students must register for at least six credits per semester to receive federal financial aid. Students may only receive financial aid, including Federal Direct Loans and Federal Direct Graduate PLUS Loans, for courses that count towards their master's degree. 

If a student registers for a course not required for their master's degree, those credits will not be counted towards the six-credit minimum, nor will financial aid pay those credits. All six credits must be taken at Salem State. 

Certificate programs and credits are not eligible for federal financial aid nor count toward the six-credit minimum.

Students must fully register for their semester courses within the Add/Drop period before the census date. The census date typically marks the end of the Add/Drop period for the semester. For more information, please visit What is the Census Date and Roster Verification.

Federal Title IV (financial aid) funds are earned and prorated based on the percentage of days a student attends through the 60% point of the semester. If students do not complete at least 60% of the semester, their aid may be adjusted and/or canceled. For more information, please visit Why Did My Financial Aid Change?

Students must meet Graduate Student Satisfactory Academic Progress (SAP) to be eligible for financial aid. Students must maintain a cumulative grade point average (GPA) of 3.0 and successfully complete 67% of their attempted credits.

Students are responsible for understanding the university's policies. For more information on university policies, please review the Refund, Add/Drop, Attendance, and Leave of Absence policies. 

Direct Loan Master Promissory Notes, Loan Entrance Counseling, and Loan Fees 

Students who receive a Federal Direct Loan for the first time at Salem State must complete a Master Promissory Note (MPN) and Loan Entrance Counseling at studentaid.gov.

It is essential to understand that an MPN and Loan Entrance Counseling is legally required and must be completed before loan funds can be disbursed to a student's account at Salem State.

A loan fee is taken on all Federal Direct Loans. The loan fee is a percentage of the loan amount proportionately deducted from each loan disbursement. Salem State cannot waive loan fees as they are legally required.

University and Financial Aid Communication

Students must monitor their Salem State email and Navigator accounts regularly. The Salem State email and Navigatoraccounts are how the university communicates directly with students.

Students will see the Tasks tile log in to their Navigatoraccount. This is where the university will notify students of items they must complete on their To-Do List relating to their enrollment, financial aid, or any holds on their account. For more information, please visit [How
to: View my holds and To-Do List|https://ask.salemstate.edu/kb/how-view-my-holds-do-list].

Book Advance

Book advances are offered to students who will have an excess of financial aid after funds have been applied to their bill for the semester. A book advance allows students to "charge" their books to their student accounts.

All book advances are set to a maximum of $600 with no exceptions and are dependent upon the amount of their anticipated refund. The money is subtracted from their expected refund if they use their book advance. Any advanced unused funds will be added to their anticipated refund for the term.

Books must be purchased in person or online at the Salem State Bookstore. Eligible students will receive an email from the Salem State Bookstore before the start of each semester.

Financial Aid Refunds

When financial aid funds are disbursed, any outstanding balances owed to the university are paid first. If there are any excess funds after the balance has been paid, a refund will be generated.

The Student Accounts Office is responsible for processing and collecting student account bills and issuing student refunds. Refunds are directly deposited into the student's checking or savings account if they have registered for direct deposit or mailed to the student's permanent address on file within two weeks. For more information on setting up an account for direct deposit, please visit How to set up a direct deposit/eRefund.

Financial aid refunds are issued beginning in October for the Fall semester and February for the Spring semester.

Cost of Exam to be Licensed, Certified, or Gain First Professional Credential 

If a student is enrolled in a program that will require them to take an exam to be licensed, certified, or gain their first professional credential and is planning to register for that exam during the academic year, please contact the Financial Aid Office so that the cost of the exam may be included in their estimated cost of attendance.