Financial Aid for +1 MBA
Undergraduate students can earn a Master of Business Administration (MBA) in one year after completing an undergraduate degree. The following resources will help you understand how your tuition and aid will change when you advance from undergraduate status to graduate status in the +1 MBA Program.
Financial Aid as an Undergraduate vs Graduate Student
Throughout the +1 MBA program, students are considered either undergraduate status or graduate status.
Undergraduate Status
When you are enrolled as an undergraduate student, you will be billed undergraduate tuition and fees rates, and receive undergraduate financial aid.
Graduate Status
You will advance to graduate student status upon completion of your bachelor’s degree. Learn more about when the change happens
- When your status changes to graduate, you will be charged graduate tuition and your financial aid will be amended based on the term you began your enrollment at RIT.
- Your undergraduate financial aid will no longer apply. You will no longer qualify for Federal and State funding (i.e. Pell, SEOG, NYS TAP, SAE, and undergraduate loans) as well as institutional scholarships and grants awarded by RIT during your undergraduate enrollment.
- You will be able to apply for additional graduate student loans using the FAFSA and may be eligible to receive Federal Student Loans. Learn tips for filing the FAFSA as a graduate student
When will I (and my financial aid) change from undergraduate to graduate status?
Undergraduate student status advances to graduate student status once you complete your bachelor’s degree. You can find the required curriculum for your Bachelor’s degree on your program's webpage.
Once in the graduate status, the program allows select core MBA courses to be waived with a combination of specific undergraduate "B" grade or better-completed coursework. We encourage students to confirm with their academic departments when they should anticipate that their enrollment status will be classified as a graduate student.
The Office of the Registrar will notify the Office of Financial Aid and Scholarships that a student enrolled in the +1 MBA program has advanced to the graduate level within their program of study. The student’s financial aid is then amended based on the program they are enrolled in and also on the term they began their enrollment at RIT. Student Financial Services will amend their tuition rate to reflect graduate tuition.
Graduate Education Funding Sources
When your undergraduate financial aid has been updated to graduate financial aid, you will need to review your new financial aid offer. In addition to your graduate scholarship, you may also be offered other funding sources such as loans, student employment, and assistantships to aid you with your educational expenses.
Filing the FAFSA as a Graduate Student
Students advancing to graduate status in an upcoming summer or fall semester
If you plan on advancing to the graduate level within your Accelerated Dual-Degree program in an upcoming summer or fall semester (check with your academic department), you can report on the FAFSA that you are a graduate student and answer “Yes” to the question “Will you be working on a master’s or doctorate program?” You will not need to report your parental information on the FAFSA.
Students advancing to graduate status in an upcoming spring semester
If you don’t plan on advancing to the graduate level until the spring semester, we recommend that you continue to report on your FAFSA that you are an undergraduate student and that you answer “No” to the question “Will you be working on a master’s or doctorate program?” You should also continue to report your parental information on the FAFSA unless you can be classified as an independent student for reasons other than working on an advanced degree.
Contact our office for help
Don’t worry if you make a mistake reporting your student status on the FAFSA. Often we can make the correction on your behalf once your FAFSA data has been received. We will notify you if you are required to make any additional updates to your FAFSA such as adding parental information.
If you have any questions, contact us.
Federal Student Loans as a Graduate Student
As a graduate you can apply for Federal Student Loans. You must be a U.S. citizen or eligible non-citizen and complete the FAFSA to apply.
Qualified students will be offered the maximum eligibility in the William D. Ford Unsubsidized Direct Loan program for graduate students (up to $20,500 annually). Any Federal Direct Parent PLUS Loan and Undergraduate Federal Direct Loans will be cancelled for upcoming terms.
You must be enrolled in a minimum of six credits in coursework or in a full-time co-op per term to qualify for federal student loan funding. If you are enrolled in less than six credits but have been granted full-time equivalent status by your academic department, you may still qualify for federal student loan funding.
Students who are offered additional federal loan funding mid-year will need to accept the new loan amount in the Financial Aid & Scholarships section of eServices.