Financing your degree at WKU as a Doctor of Physical Therapy:
Considering the nature of this program both direct and indirect costs are taken into consideration with regard to funding a student’s studies while participating in the DPT program. Funding options for this graduate program at this time only include loans. We encourage our students to borrow responsibly while maintaining a reasonable living standard and allowing for educational expenses incurred. Below are several points of interest that you should familiarize yourself with in order to make funding your education a smooth process.
Point 1: The FAFSA –
All students are highly encouraged to complete a Free Application for Federal Student Aid commonly referred to as a FAFSA. This process must be done for each year and is necessary to receive Stafford Loans. FAFSA’s may be completed online at www.fafsa.gov From the time a FAFSA is filed, please allow WKU at least two weeks to receive the information. The Department of Student Financial Assistance will contact you by email regarding further information if necessary for this process once your FAFSA is received.
Point 2: Cost of Attendance (COA) –
All students within the DPT program have a standardized COA, also referred to as a budget, used to determine the maximum total a student may borrow in loan funds each year. These budgets allow for educational expenses such as tuition, fees, books, etc which are direct costs associated to the program. Other indirect costs such room and board, travel, and miscellaneous personal expenses are also considered in this total budget amount. Your specific COA information is viewable on TOPNET for each period of enrollment.
Students that are in unique situations including those incurring cost for dependent childcare, or if a student is an international student they should contact Bryson Davis at email@example.com for a review of COA to see if there are additional allowable expenses that may be considered in the COA.
Find 1st year DPT Student Budgets here
Find 2nd year DPT Student Budgets here
Find 3rd year DPT Student Budgets here
Point 3: Stafford Loan –
Students with valid FAFSA’s on file with WKU are eligible as a graduate student for Stafford Loans within one academic year up to the amount of $20,500. Information regarding interest rates and other basics on this loan is available at www.studentaid.gov These loans have a fixed interest rate and are loaned to the student by the federal government without credit standards being considered.
Point 4: Graduate PLUS Loan –
Graduate PLUS loans may be sought as a secondary option once you have exhausted borrowing of the Stafford Unsubsidized Loan for the year. This loan may be borrowed up to the remaining eligibility in your COA. These loans also have a fixed interest rate and are loaned to the student by the federal government but are dependent upon credit standards. Additional information regarding these loans may be found at www.studentaid.gov
Point 5: Alternative Loans –
These loans are private loans through various lenders not associated with the federal government. Interest rates and loan product options vary depending on the lender that a student chooses to use. The borrower’s credit rating is considered when determining eligibility for these loans and in some instances a cosigner may be necessary to gain approval for these loans.
We urge our students to review these loans compared to Graduate PLUS loans from the federal government in order to make the wisest borrowing decision. Always shop comparing interest rates and repayment options to find the best product for you.
If assistance is needed regarding Alternative Loans please feel free to reach out to Ms. Cathy Alewine at firstname.lastname@example.org .
Point 6: General Information –
Here in the Department of Student Financial Assistance it is our goal to assist all students in the most efficient manner possible with regard to funding your educational endeavors. For this particular program we have designated a specific point of contact to ensure that you receive the most accurate information. Your general contact is our Loan Coordinator, Ms. Kati Jewell unless you need assistance with one of the areas otherwise specified in the information above. Ms. Jewell may be contacted at email@example.com. Please include DPT in the subject line as well as including your student identification number in the body of your email for your emails to her in order to aid her in better assisting you.
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