Cost & Aid for the MFA in Creative Writing
US MFA in Creative Writing, 2020-21
This two-year low residency online program features two 10-day onsite residencies each year. The tuition listed here is for one year (two semesters) and includes the cost of housing and meals for the two-week residency at no extra charge.
| Annual Cost of Attendance and Typical Financial Aid | |
|---|---|
| Tuition | $17,874 |
| Federal student loans | –$17,874 |
| Your payment | $0 |
| Optional: additional low-interest federal loans i | -$14,000 |
- Personal Expenses and Travel $14,000 in optional federal student loans may be available to those who qualify for personal living expenses and travel to the residencies. This type of loan requires an endorser if there is adverse credit.
- Education Tax Incentives are available as money-saving tax benefits to assist in reducing your cost of education. More about education tax benefits
Repayment Options
The repayment choices on federal student loans include the following:
Standard
Payments are a fixed amount that ensures your loans are paid off within 10 years (within 10 to 30 years for Consolidation Loans).
Extended
Payments may be fixed or graduated and will ensure that your loans are paid off within 25 years.
Graduated
Payments are lower at first and then increase, usually every two years, and are for an amount that will ensure your loans are paid off within 10 years (within 10 to 30 years for Consolidation Loans).
Income-Based
Your monthly payments will be either 10 or 15 percent of discretionary income (depending on when you received your first loans), but never more than you would have paid under the 10-year Standard Repayment Plan.
Income Contingent
Payments are recalculated each year and are based on your updated income, family size, and the total amount of your Direct Loans. Any outstanding balance will be forgiven if you haven’t repaid your loan in full after 25 years.
Income Sensitive
Your monthly payment is based on annual income, but your loan will be paid in full within 15 years.
Questions? Our Financial Aid Office is happy to assist you. Contact us at finaid@miu.edu for a quick reply — normally one business day — or see more about financial aid.
