Financing Graduate School

Why is graduate study at SUNY Old Westbury a great value?  On average, individuals with master’s degrees earn more than $500,000 over the course of their careers compared to those with only a bachelor’s degree. So, not only can you earn a master’s degree that sets you apart in the marketplace and greatly increases your earning potential, but you can earn it at the affordable price of SUNY tuition.  


All students should start by filing a FAFSA form to determine eligiblity for graduate school loans. After that, use our helpful links below to determine financing options for your situation or need. 

For questions contact the Office of Financial Aid at will send email) or (516) 876-3224. 

Old Westbury College Foundation Scholarships

The Old Westbury College Foundation, the campus' affiliated not-for-profit organization, offers a variety of scholarship awards, including those available for graduate students and students in specific areas of study. 

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TEACH Grant 

Teacher Education Assistance for College and Higher Education (TEACH) is a grant funded by the federal government to encourage students to become highly qualified teachers in high-need subject areas to low-income students.  Undergraduate and graduate students who are U.S. citizens or eligible non-citizens may be eligible for this grant.  Grants of up to $4,000 per year may be awarded to eligible recipients who agree to a teaching commitment of  four years in a specified subject.  A FAFSA must be completed to be considered.  Failure to complete the commitment will result in a conversion of the grant to a loan payable with interest accrued from the time of the award disbursement.  


Math & Science Teaching Incentive

New York State (NYS) Math & Science Teaching Incentive Program- Graduate students wishing to teach secondary math or science may be eligible to receive scholarship funding through the NYS Math and Science Teaching Incentive Program.  Recipients may receive a one-year award with a maximum of $4,350 in exchange for a commitment of 5 years of math and science teaching in New York State.  

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Federal Loans

The main types of loans available to graduate students are Direct Unsubsidized Loans, Direct Subsudized Loans, Direct Consolodation Loans and Direct PLUS Loans. Some students may qualify for a Federal Perkins Loan depending on financial need. The U.S. Department of Education offers the most current list of loan availability, filing procedures and interest rates. 


Private Loans

Should you need to borrow additional funds beyond federal loan programs, you may wish to consider a private education loan.  It is your responsibility to research these options to find the one best suited to your needs. Be sure to review interest rate, fees and special features.  Be aware that each lender performs its own credit check and multiple checks can affect your credit score. You should opt for a loan that has no prepayment penalty and is deferred until graduation.  Most importantly, borrow conservatively.

All lenders are required to provide you with a copy of their Private Loan Application Disclosure form prior to disbursement of funds. Keep in mind that you are free to choose any lender you wish without penalty or undue delay in processing.