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Financing Your MBA

TMMBA students finance their education through personal funds, federal and private loans, employer assistance, and private outside scholarships. In many cases, combinations of financial resources are used to pay the TMMBA program fee. Please note that Federal Financial Aid is not available for Autumn 2017 Immersion courses.

Federal Student Loans are issued through the Department of Education and are available to US Citizens and US Permanent Residents only. Other eligibility requirements apply. TMMBA students are typically eligible for two types of Federal Loans:

  • Direct Unsubsidized Loans have a maximum disbursement of $20,500 per year. Loan eligibility is not need-based.
  • Direct PLUS Loans are loans made to students to help pay for the remainder of education expenses not covered by other financial aid, as determined by FAFSA results. Loan eligibility is not need-based.

The FAFSA4caster is the US Department of Education’s free calculator that gives you an early estimate of your financial aid award.

Applying for Federal Loans:
Students seeking federal loans must complete the Department of Education’s Free Application for Federal Student Aid (FAFSA). UW’s federal financial aid code for the FAFSA is 003798. If you are admitted to the TMMBA program and your FAFSA is approved, the UW will send you a financial aid eligibility letter and a promissory note.

For complete graduate loan information, visit the UW  Office of Student Financial Aid (OSFA) website.  You may also contact the UW Office of Student Financial Aid at (206) 543-6101 or ofsa@uw.edu. TMMBA also hosts financial aid workshops on occasion.

TMMBA students may qualify to borrow additional funds through private lending institutions. Loan terms vary widely between lenders and loan programs, and students must apply directly with the lending institution. There are resources available from the OFSA website to make an informed decision about alternative loan options.

Non-U.S. Citizens/Permanent Residents are not eligible to apply for U.S. federal financial aid. International students are encouraged to pursue private educational loans available from their home country.  In some cases, international students may also be eligible for private U.S. loans with a U.S. citizen co-signer. UW’s International Student Services office provides information on Financial Assistance for International Students. Additional resources are available at eduPASS and IEFA.

While the UW does not provide scholarships or grants for TMMBA students, we encourage students to apply for outside (private) scholarships. FastWebScholarships.com and other scholarship search engine sites are a good place to begin researching scholarship opportunities.

As a veteran, current active duty member, or a dependent of military personnel, you may be entitled to VA benefits to fund your education. These benefits may include funding for tuition and fees, housing, books, and meals. For more information on financing your MBA through VA funding, please contact tmmba@uw.edu or visit the UW Veteran’s Center website.

Talk to a TMMBA current student or alumni with a military background to get to know the program and find answers to any questions you might have. Connect Me!

The IRS provides both tax credits and deductions that may be taken to reduce the federal income tax burden for eligible students. Tax savings are dependent on your personal situation, and students should check with their personal accountant to determine whether their tuition payments qualify as a tax deduction. For detailed information on the education tax credits and eligibility, visit the UW Student Fiscal Services website.