Carnegie Mellon offers various types of financial aid, including a combination of grant assistance as well as loan and employment options. We're here to help students and families balance these options to manage their investment over the next several years.
Grants don't need to be repaid and are either funded by the federal or state government or by Carnegie Mellon. They're available to students who apply for financial aid and demonstrate financial need.
Students who receive a Carnegie Mellon Undergraduate Grant may be eligible to receive a named endowed scholarship. These scholarships are established by donors who are committed to supporting Carnegie Mellon and its students. Some donors are alumni, who were themselves the beneficiaries of student aid. Scholarships are offered to students who meet specific qualifications as designated by the donor.
Third party organizations, like ROTC or nonprofits, may also offer scholarships. Outside scholarships don't change your financial aid unless the scholarship plus your federal aid is greater than your financial need or all your financial aid plus the scholarship is greater than our Cost of Attendance.
Federal Direct Student Loans
The Federal Direct Student Loan is the most widely-used loan for college students. A student may qualify for a need-based subsidized loan but all students can borrow a maximum of $5,500 for their first year.
Federal Direct PLUS Loans
The Federal Direct PLUS Loan is a financing option for parents of undergraduate students. The PLUS Loan is only available to creditworthy borrowers.
There are many other loan options provided by private lenders that can provide supplementary funding for students.
Carnegie Mellon utilizes several types of work-study programs to allow students to earn a paycheck while attending classes. Job opportunities are plentiful on campus and campus employers are often times flexible with their requirements for student employees.
Other Borrowing Options
There are a few other borrowing options that may be available to you. Consider any of these options carefully and always discuss them with a financial advisor, as they can carry significant risk.Learn more about other borrowing options