Types of Financial Aid & Eligibility

The School provides a limited number of need-based scholarships to eligible first year, full-time master's program students. These programs can provide full tuition awards to selected applicants who are graduates of a Baltimore City High School and partial tuition awards to others who demonstrate high levels of financial need. 

For students who qualify for an unsubsidized loan, the federal government will charge interest from the day the loan is disbursed until it is repaid in full. Interest will accrue while the student is enrolled in school, during a grace period and during authorized periods of deferment. Students may pay the interest during these periods or it can be capitalized; that is, the interest will be added to the principal amount of the loan.

The annual maximum for the Direct Unsubsidized Loan Program is $20,500 per year. The aggregate loan limit is $138,500, which includes loans received for undergraduate study. The U.S. Department of Education has increased the aggregate loan limit to $224,000 for students who are enrolled in eligible health professions, including public health. Students enrolled at the Bloomberg School may be eligible to borrow up to an additional $12,500 in an unsubsidized loan for four (4) terms and up to an additional $15,278 in an unsubsidized loan for five (5) terms.

The interest rate for Direct Unsubsidized loans is a fixed rate of 8.08  percent (8.08%) for the period July 1, 2024 - June 30, 2025.  Interest accrues from the date of the first disbursement. The U.S. Department of Education charges the borrower a 1.057 percent (1.057%) origination fee for loans issued between October 1, 2022 - September 30, 2024.  The origination fee is deducted proportionately from each disbursement of the loan proceeds. After ceasing to register at least half-time, a six-month grace period is granted, during which time no payment is required.

Graduate PLUS Loans are available to graduate students who meet the general eligibility requirements for federal aid. This program is available without regard for financial need. Graduate PLUS Loan amounts do not count towards the aggregate direct loan subsidized and unsubsidized loan limit. A credit review is required to make sure the applicant does not have a record of adverse credit, but there are no requirements regarding debt to income ratio. Students may borrow up to the full cost of education less other aid. Graduate PLUS Loans have a fixed interest rate of 9.08 percent (9.08%) for the period July 1, 2024 - June 30, 2025. Interest accrues from the date of the first disbursement. The U.S. Department of Education charges the borrower a 4.228 percent (4.228%) origination fee for loans issued between October 1, 2022 -September 30, 2024.  The origination fee is deducted proportionately from each disbursement of the loan proceeds.

The School recommends that students exhaust their eligibility for all federal loan programs before considering a private loan.

Private loans can supplement other forms of financial assistance and assist students who do not qualify for federal loans. Loans are approved by the lender based on the creditworthiness of the borrower. Lenders will often require an applicant who is not a U.S. Citizen or permanent resident to apply with a co-signer who is a U.S. Citizen or permanent resident, however, there are lenders who will allow international applicants to apply on their own.

Students can apply to borrow up to the cost of education, minus other aid received. Students are not required to complete the FAFSA to apply for a private education loan; however, after the loan is fully-approved by a lender, the student must submit the Public Health Private Education Loan Application to our office. The application is typically available online in mid-March for the upcoming school year.

Students can locate potential lenders by searching the JHU Elm Select website or searching the internet for private education loans. Use our school code (002077-05) when you apply. The Bloomberg School does not endorse or recommend any lender and does not have a financial interest in any lending institution. We will process an application from the lender of the student's choice. Students are encouraged to borrow only what they need to meet educational costs.

Loan proceeds are typically disbursed to the school equally for each term; however, lenders will only issue up to four disbursements. Loans for students enrolling for the Summer, 1st – 4th terms will receive disbursements for Summer, 1st – 3rd terms only and should budget accordingly.

After your loan is fully-approved, your lender will send a request to the school to certify your eligibility. They will also send you a Private Education Loan Self-Certification form. You must complete, sign and return this form to your lender before any loan funds can be disbursed.

QUESTIONS TO ASK A PRIVATE LENDER

1. What is your lowest interest rate and fee combination and how can I qualify? Is the rate for a limited period or is it for the life of the loan?
2. For variable rate loans, is there a maximum rate charged? How often is the interest rate adjusted, and how is it determined?
3. What interest rate can I get on a fixed-rate loan?
4. How long will I be repaying the loan? Is there any penalty for paying it off early?
5. When do I have to start making payments? How long can I defer payments while I'm in school? If I continue in graduate school can I defer payments? How much will I owe when I do start making payments?
6. Do you offer an on-time payment discount?
7. What percentage of borrowers get the discounts you offer? Are your discounts guaranteed or are they subject to change later?
8. Will I lose my on-time payment discount if I make a late payment or if I ask for a change in the payment schedule?
9. Would you allow me to defer or reduce my payments temporarily because of economic hardship? Under what circumstances and for how long?

The Federal Work-Study Program provides part-time jobs to students with financial need. Under this program, student employment is funded through a combination of federal funds and funds provided by an eligible employer. Federal Work-Study is taxable income paid, by check, directly to the student. Earnings do not reduce tuition costs. The program encourages employment related to the student’s course of study and community service work. Jobs often provide support to our faculty in some aspect of their research initiatives. Funds are limited and are offered on a first come, first served basis.

Maryland residents must complete and file the FAFSA by March 1 in order to apply for a scholarship funded by the state of Maryland. For more information, contact the Maryland Higher Education Commission.

Most often state funding can only be used for study within the student’s state of residency. However, non-Maryland residents should contact the designated state agency for information on funding opportunities through their state of residency. A listing of state contacts is available on the U.S. Department of Education website.