To qualify for federal student loans and to defer federal student loans, a student must be enrolled half-time (at least five credit hours for graduate students) in an academic term. Under the current Course of Study/credit hour configuration, this means that most, but not all, semesters’ registration and enrollment can be managed in order to hit this mark.
During terms in which AIP students are enrolled for 5 or more credit hours, they can apply for a federal student loan by completing the Free Application for Federal Student Aid (FAFSA). It is possible that they may be granted a federal loan in an amount that would cover most expenses for the 2.5- to 3-year program. Also, at any time during the AIP experience, any student may apply for loans from private financial institutions. More information can be found at http://miamioh.edu/admission/finaid/graduate/loans/index.html.
All students who take out federal student loans qualify for only one six-month deferment for each particular loan. AIP students who have not previously used their one-time, six-month deferment are able to defer federal loans beginning in the term in which they are enrolled half-time. AIP students who have already used their six-month grace period would only be eligible for another six-month grace period on any new loans that have been borrowed.