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Graduate School Financial Aid Overview 2020-2021

Grad school students; Here’s what you need to know:

Before You Apply

Submit your admission application for our graduate program and wait for your acceptance decision. If you are accepted:

Apply for Aid

Complete your 2020-2021 Free Application for Federal Student Aid (FAFSA) at fafsa.gov. The 2020-2021 FAFSA is available beginning October 1st 2019.  We recommend that you use the IRS Data Retrieval process when completing your FAFSA to minimize the chance that your application is selected for verification. Be sure to include Bethel University (school code #002338) on the list of schools to receive your FAFSA information.

The FAFSA is the tool we use to determine eligibility for direct unsubsidized student loans.

You should receive your award via email within 2-3 weeks of submitting all required application materials. You can also view your financial aid award online through MyBethel [Checklist tab > Financial Aid Award button > select the appropriate academic year from the dropdown list].

* Please pay close attention to this list of important dates to be aware of approaching deadlines.

*We plan to begin awarding Graduate students for the 2020-2021 school year in March, 2020.

After You’re Offered Financial Aid

1. Compare Loans

If you decide to borrow loans, compare your options. This enables you to find the loan that will best fit your needs.

Once you decide which loan(s) you'd like to borrow, you will need to either accept or decline your unsubsidized loan through Financial Aid Requirements  channel in your MyBethel account [select the appropriate academic year from the dropdown list]. Click the Accept Award Offer tab. Decide how much of your Unsubsidized Loan you want to borrow for the full year, and follow the instructions. Click Submit Decision.

  • If you accept your Direct Unsubsidized Loan and you're a new Bethel borrower, you must complete both loan entrance counseling and a master promissory note (MPN) ; this becomes available after April 1, 2020. Be sure to select "Complete Master Promissory Note" and "Complete Entrance Counseling." Please note-completing the "Financial Awareness Counseling" does not satisfy the loan entrance counseling requirement. You'll need to log in to studentloans.gov to complete entrance counseling and sign your MPN. Select Minnesota as the School State when completing these requirements.
2. Apply for loans

If you're not eligible for Direct Unsubsidized Loans, your award letter will include private loan eligibility. If you decide to apply for a private loan there is a separate application process for these loans.

3. Notify Financial Aid of Changes in Enrollment Assumptions

Enrollment and housing assumptions used to prepare your financial aid award are listed on the bottom of the paper financial aid offer letter. Please pay close attention to these assumptions as student loans are evenly divided and disbursed according to the assumptions. Use the online update form to notify the financial aid office of changes in your anticipated enrollment.

4. Payment Options

Please see the information about payment options on the Business office website for detailed information on payments.

5. Check Your Status

View the status of your documents and requirements through your financial aid checklist in MyBethel [checklist tab]. Items marked with a red flag need to be completed. Click on the link provided to complete an item.

Do you have an Estimated Offer?

Complete the Verification process to get an updated award.

Important Dates and Deadlines

Please note our important dates and deadlines for the 2020-2021 school year.