Graduate Student Financial Information
Tuition and Matriculation Maintenance
Full-Time Graduate Tuition rate of $16,100 is charged to students enrolled in 9 - 12 credits. Overload credits will be charged at the per credit tuition rate of $1,450. Graduate students enrolled in less than 9 credits will be charged $1,450 per credit. Students who have completed all required credits, and who need to maintain matriculation while completing a thesis, special problem, dissertation, project, or other degree requirements, must enroll for Maintenance for Matriculation (D 999) and pay a $465 fee per semester, in addition to any other required fees.
For the 2015-2016 academic year, full-time students are required to pay a $425 General Services Fee and a $150 Student Activity Fee for each semester they are enrolled in classes, part of which is used to support graduate activities. Part-time students are required to pay a $275 General Service Fee. Certain classes may have additional laboratory fees and course materials fees. The amounts of those fees vary and are specific to the departments and locations. A $115 fee for binding three copies of the thesis is required in advance of the last term of study for the Master's and Ph.D. degrees. A $125 microfilming fee is also required for the Ph.D. degree. Stevens requires all degree-seeking graduating students to pay a $260graduation fee ($80 for students seeking a graduate certificate). There is a $50 fee for checks that are returned by the bank. There is a $20 fee to replace student ID cards. There is a $550 late payment fee and various deferred payment fees, depending on the option chosen.
Stevens will release a student's transcript upon request, provided that his/her account is not overdue and that he/she requests the transcript in writing. Students should allow approximately one week to process the transcript. The transcript is sent directly by Stevens in a sealed envelope to the requested party. Stevens will only release an official transcript directly to the student in a sealed envelope. All transcripts are sent by U.S. mail, unless other arrangements are made. If a student needs the transcripts in less than one week, he/she is required to pay for overnight, two-day, or priority mail. All transcript requests must be made in writing over the student's signature or directly from a Stevens email address. No verbal requests for transcripts will be honored under any circumstances, nor will any requests from a third party unless the student has signed a release for the transcript to that third party.
Stevens requires students to have health insurance. Copies of the insurance brochure can be viewed online by visiting www.universityhealthplans.com. All full-time students (9 credits or more) are charged annually for health insurance unless they have equivalent coverage. Students may go to www.universityhealthplans.com and click on "Stevens Institute of Technology" to submit an online waiver of the Institute coverage by a specific deadline designated each semester by Stevens. Optional Health Insurance is also available to all part-time students and to students' spouses and children. The brochure and rate information is available on our website at http://www.stevens.edu/ssc/insurance.html.
Books and Supplies
All required textbooks may be purchased at the Campus Store or through the Campus Store web site at www.stevenscampusstore.com. They will ship textbooks via UPS directly to any address requested by the student, for the cost of the textbooks plus the UPS charge. The Campus Store accepts Duck Bills, American Express, MasterCard, and Visa.
Graduate Student Housing
Most Stevens graduate students live in off-campus houses and apartments in Stevens’ hometown of Hoboken, N.J., as well as other cities which surround the university. Our local area is an exciting urban community with a great assortment of shops, restaurants, parks, historical sites, businesses and nightlife. Public transportation options abound, and Stevens also offers a robust shuttle program to make nearby neighborhoods extremely accessible to campus. A small number of graduate students live in Stevens Leased Housing apartments – located in Hoboken within walking distance of the campus. Additional Housing information may be found at www.stevens.edu/housing or contact the Office of Residence Life at (201) 216-5128 or [email protected].
Graduate students, while not required, are welcome to be on any meal plan. For more information, please visit www.stevens.edu/housing or contact the Office of Residence Life at (201) 216-5128 or [email protected].
Payment may be made in U.S. dollars either by cash, check, in person at the Student Service Center. Checks should be made payable to Stevens Institute of Technology. Your campus-wide ID number should be included on the check. Students may also pay their bills on the Internet from any browser by accessing www.stevens.edu/es/student or www.stevens.edu/ebilling.
Prompt payment of student account balances ensures students keep the classes they selected and their advance housing selections. Grade reports and transcripts will be withheld if any balance remains unpaid. Balances paid after the due date will result in a late payment fee of $550.00. Amounts paid with checks returned by the bank will result in additional fees.
If a student is not able to pay his/her bill in full at the time of registration, he/she is required to meet with a representative from Student Financial Services. There is a $75 fee to defer up to 50 percent of the tuition and fees for six weeks. If an employer is assuming responsibility for payment of tuition and fees following the end of the semester, students may remain registered without payment by selecting the Employer Reimbursement Bridge Plan Agreement offered in the fall and spring semesters only. There is an additional $150 fee per semester for selecting this option.
Students with unmet financial obligations are not considered to have valid registrations. They are not allowed to attend classes, receive transcripts or grades, participate in graduation ceremonies, or receive their diploma. If a student withdraws or graduates from Stevens with a balance due, Stevens will actively try to collect the unpaid balance. This may include referring the delinquent account to a credit reporting agency and/or collection agency.
Monthly Payment Plan
To assist graduate students, Stevens participates in a monthly payment plan. An installment program can be arranged through Tuition Management Systems (TMS) or Sallie Mae Tuition Pay. The fall semester, four-payment plan begins August 1st and ends November 1st. The spring semester four-payment plan begins January 1st and ends April 1st. Brochures about this program are available from the Student Service Center. Stevens neither sponsors nor has a financial interest in this program, but allows students who have enrolled in the program to attend classes, reside on campus, and participate in other Institute activities while payments are being made to the provider.
Late Payment Fees
There is a $550 fee assessed on late payments, unless a student is enrolled in a deferred payment plan or has made other arrangements with a Student Financial Services representative. If the student is enrolled in a deferred payment plan or has made other arrangements, and that payment is received late, he/she will be assessed the $550 late fee. This late fee cannot be waived. Please refer all questions to the Director of Student Financial Services at (201) 216-5555.
Withdrawals and Refunds
Students who enroll and decide not to attend class for any reason must officially drop from classes online at www.stevens.edu/es/student or by completing the Drop section of the Change of Enrollment form. The Change of Enrollment form must be submitted to the Office of the Registrar. After the official add/drop period is over a withdrawal will occur and a “W” grade will appear on the transcript. The professors' approval and/or the Dean of Graduate or Undergraduate Academics' approval may be required prior to withdrawing from a class after the add/drop period (please refer to the current Academic Calendar). The date the form is submitted to the Office of the Registrar will determine the official withdrawal date for tuition and fees. Students must officially withdraw from housing and/or meal plans in writing to the Office of Residence Life. They will determine the official withdrawal date for housing and meal plans (which may be different than the date submitted to the Student Service Center). All tuition, fees, and student housing and meal plan charges will be reversed based on the official withdrawal date and will be calculated from the official opening date of classes in accordance with the following schedules:
Regular academic semester for continuing students
- Through the first day of the semester 100%
- After the first day of the semester through the second week 90%
- After the second week of the semester through the fourth week 50%
- After the fourth week of the semester through the eighth week 25%
- Thereafter 0%
Summer Session for continuing students
- Through the first day of the semester 100%
- After the first day of the semester through the first week 90%
- After the first week of classes through the second week 50%
- After the second week of the semester through the third week 25%
- Thereafter 0%
Any loss occasioned by damage to Institute property will be charged to the student or students responsible, but if we do not know the students causing the damage, the costs may be assessed equally upon all members of the student body. The Institute reserves the right to exclude a student at any time if conduct or academic standing is regarded as undesirable, without assigning any further reasons. In such cases, fees will not be refunded or remitted in whole or in part, and neither the Institute nor any of its officers shall be under any liability for such exclusion.
Many sources of financial aid are available to graduate students. These include fellowships, assistantships, on-campus employment, employer tuition assistance plans, loan funds, and deferred payment plans. Fellowships and assistantships are granted on a competitive basis to outstanding full-time graduate students. Applicants should consult their department for more information regarding assistantships. Continuing students may become eligible for additional sources of aid as they progress through the program and should consult with their department at regular intervals.
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Graduate Assistantships (teaching, research, or other) are available in every academic department and in some non-academic departments. Graduate Assistants are appointed based on recommendation by the appropriate department director or principal investigator of a grant or contract. Graduate Assistants may carry a reduced course load but still complete the master's degree in two years or less.
Stevens Institute of Technology is able to offer a select group of students funding in the form of teaching or research assistantships. The material provided and discussed in this section is for information purposes only, and is offered as a guide.
Assistantships are graduate funding opportunities that can take many forms. A student awarded a research or teaching assistantship may receive tuition and fees for up to three courses per semester during the Fall and Spring semester plus a stipend; or some combination of tuition, fees, and stipend. In exchange for the predetermined funding, the student must work up to a maximum of 20 hours per week during the semester, and maintain a satisfactory academic performance. Stevens does not provide what is commonly known as "tuition waivers"; for example, the tuition and fee costs cannot be waived. Additional support may also be available for the summer sessions.
The number of assistantships awarded each year is limited. If you do not receive an assistantship for your first year at Stevens you can pursue an assistantship within your department after you arrive. It is important to note that each department identifies and awards assistantships to students, while the Registrar's Office administers the process.
Provost Masters Fellowship Awards
The Provost Masters Fellowships are offered each year during the fall and spring semesters to exceptional students interested in pursuing a master’s degree on a full-time basis. These one-time fellowships are awarded to qualified students at the time of their admission to any one of the Master’s degree programs offered at Stevens. Students who are placed approximately in the top 5% of the applicant pool are considered for this award. Selection criteria for the Provost Masters Fellowship includes GRE/GMAT scores in addition to exceptional undergraduate academic performance. TOEFL/IELTS scores are also considered as a criterion for international applicants. There is no separate application for the fellowship awards as students are automatically considered when they initially apply.
Research Assistantships generally provide graduate tuition and fee support and a monthly stipend (see above) for services on sponsored research contracts. Appointments are reviewed and made by the Office of Graduate Admissions after recommendation by the academic department director or principal investigator.
Teaching Assistantships generally provide graduate tuition and fee support and a monthly stipend (see above) for teaching assistant services in the academic departments. Appointments are reviewed and made by the Dean of Academic Administration after recommendation by the academic department director.
Robert Crooks Stanley Graduate Fellowships
Robert Crooks Stanley Graduate Fellowshipsprovide tuition plus living allowance for graduate students pursuing a Ph.D. degree. The fellowships are endowed through the generosity of the late Mrs. Robert C. Stanley and her children as a memorial to Dr. Stanley, Class of 1899 and former chairman of the Board of Trustees. A committee appointed by the Board of Trustees makes the selections.
Loans and Work-Study
Graduate students enrolled in a degree-granting program on at least a half-time basis (a minimum of six credits per semester) may apply for federal student loans and/or Federal Work-Study by submitting the Free Application for Federal Student Aid (FAFSA). The results of this standardized application will allow the Office of Financial Aid to determine eligibility for federal aid. Only U.S. citizens or permanent residents may file the FAFSA; international students do not qualify for federal assistance.
The FAFSA should be completed and submitted to the processing center at least eight weeks prior to the beginning of the semester in which the student plans to enroll. The FAFSA may be submitted online atwww.fafsa.ed.gov. Additional information about graduate financial aid, including free, online scholarship search services, as well as alternative financing sources, may also be accessed through the Office of Financial aid’s home page (www.stevens.edu/finaid/).
There are a number of loan opportunities for eligible graduate students. Federal Direct Unsubsidized Loans as well as Federal Direct Gradate PLUS loans may be available to qualified borrowers. The maximum amount that can be borrowed from the Federal Direct Unsubsidized Loan program for the academic year is $20,500. The graduate student aggregate loan limit is $138,500. Interest accrues on the loan beginning at disbursement (the interest rate is fixed and is 6.21% for the 2014-15 year) and there is a loan fee taken at the time of disbursement 1.073%)..
The Graduate PLUS loan is a a credit based loan that is not need based. The interest rate is fixed at 7.21% for the 2014-2015 year . The Graduate PLUS Application can be completed at studentloans.gov. After submission of the PLUS Application, the student will receive a credit decision electronically. If credit approved then the student must complete their Graduate PLUS Promissory Note, on studentloans.gov. If your credit is declined by the federal government then you may appeal their credit decision, or you may wish to obtain a co-signer. A co-signer must electronically complete an Endorser Addendum on www.studentloans.gov.
Alternative Loans (Private Education Loans) are offered through private lenders and are meant to provide additional educational funding only after a student and his/her family has exhausted all other sources of funding such as federal and state aid. These loans are not guaranteed by the federal government and may carry high interest rates and origination fees. All of the loans require a credit check and most will require a cosigner if the borrower has little or negative credit history. Stevens is not permitted to recommend any specific lender/programs. Contact the lender of your choice for details about their program and application process. Make sure to understand your rights, responsibilities and benefits before you select a lender. A list of historical lenders may be found at www.stevens.edu/sit/financial-aid/student-info/afo.