If you are a teacher certification student at the graduate level, you should be aware that federal regulations classify you as a grade level 5 undergraduate student for Federal Stafford Loan purposes. You are, however, considered a graduate student by Carnegie Mellon for academic purposes.
The maximum subsidized Federal Stafford Loan for level 5 is $5,500
Independent students at level 5 also have an additional $7,000 in unsubsidized Federal Stafford Loan eligibility.
Teacher certification students fill out the same financial aid forms as graduate students. However, dependent teacher certification students must also report parental data and signatures on the financial aid forms with copies of parental tax returns (1040) and W2 forms.
You are independent if you can answer yes to any of the following:
Born before January, 1984
Graduate Student, working on a Master’s, Doctorate program or a graduate certificate during the academic year 2007-2008 (See Page 4 of the FAFSA).
Married as of today or separated, but not divorced
Have children who receive more than half of their support from you
Have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2008
An orphan or ward of the court of you were a ward of the court until age 18
A veteran of the U.S. Armed Forces
A veteran of the U.S. Armed Forces