Federal Financial Aid Programs

The Free Application for Federal Student Aid (FAFSA) must be processed to determine eligibility for the following federal financial aid programs:

FEDERAL PELL GRANT

A Federal Pell Grant is awarded to help undergraduate students pay for their education after high school. In compliance with the Federal Pell Grant Program, an undergraduate is one who has not earned a bachelor's or professional degree. This grant program provides a "foundation" of financial aid for many students to which aid from other federal sources may be added. Unlike loans, grants do not have to be repaid. The amount awarded will depend on the Expected Family Contribution (EFC), on the cost of education, enrollment status, and whether or not attendance is for a full academic year or less.

FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (FSEOG)

The FSEOG is a grant intended to supplement other aid received. These grants are federally funded with each school receiving a fixed amount each year. Therefore, funds are awarded to a limited number of undergraduate students with exceptional financial need. FSEOG awards do not have to be repaid and usually range from $400 to $600 per academic year depending on the availability of funds.

FEDERAL STAFFORD LOAN

The Federal Stafford Loan is available through the William D. Ford Direct Loan Program to help students pay for their college education. There are two types of Stafford loans, subsidized and unsubsidized. Eligibility for subsidized loans is based on financial need as determined by federal guidelines. The federal government pays the interest for subsidized loans while the student is enrolled at least half time and during the six-month grace period after the student ceases attendance on at least a half-time basis. With an unsubsidized loan, the student is responsible for all interest that accrues while attending school and during the six-month grace period. A student may choose to pay only the interest portion while in school, which would keep the loan balance at principal. If a student chooses to defer such payments, the interest will be capitalized, resulting in an increase in both total debt and the amount of monthly payments. Loan repayment begins six months after the student graduates or ceases to be enrolled at least half-time. All borrowers must complete Online Entrance Counseling and a Master Promissory Note prior to the first loan disbursement. All borrowers must also complete Online Exit Counseling upon graduation or termination of enrollment. All federal loan funds must be repaid according to the terms specified in the master promissory note.

FEDERAL PARENT PLUS LOAN

Federal Parent Plus loans enable parents of dependent students to borrow a variable rate, low-interest loan for each child who is enrolled at least half-time. Parents must pass a credit check with the US Department of Education to be eligible. Parents may borrow up to their student's total cost of attendance less other financial aid received. The total cost of attendance is determined by the Office of Financial Aid based on an average cost for tuition, books, room and board, travel, and miscellaneous expenses for the academic year. Generally, repayment begins within 60 days after the final loan disbursement is made to the borrower.

FEDERAL WORK STUDY

The federal work study program provides jobs for students who qualify and who need an income supplement to help pay for college expenses. Student employment falls into two categories: Federal Work Study, which is determined on the basis of financial need; and Institutional Work Study, which is determined by the degree of work skills possessed and availability of jobs. Earnings will be at least the current federal minimum wage. The total amount that a student earns will depend on the number of hours that the student works each week. Most students work between 10 and 20 hours per week and are paid twice a month. Types of employment include secretarial, clerical, custodial, library, tutoring, maintenance and some off campus community service jobs