African American and Hispanic participation in graduate and professional programs has increased over the last decade, but the literature on how these students financially support their education is limited. The purpose of this study is to examine the differences in financial aid awards and awarding patterns among African American, Hispanic and white graduate students. The 2004 National Postsecondary Student Aid Study database was utilized to study the financial support and borrowing habits of full-time graduate students. Through the theoretical lens of "disparate impact", findings revealed that African American students received less institutional dollars and borrowed more money at both graduate and undergraduate levels. Also, the financial support Hispanic students received and amount of money borrowed were parallel to White students. The study concludes with some specific recommendations for institutions. (Contains 3 tables.)