Federal Programs
FAFSA is required for annual awards
Federal Pell Grant
- $400 - $5,350
- U.S. citizen or eligible non-citizen
- Documented financial need
Federal Supplemental Educational Opportunity Grant (SEOG)
- $100 - $4,000
- Documented financial need
Federal Perkins Loan
- up to $4,000
- Interest rate fixed at 5%
- Repayment begins 9 months after graduation/termination of enrollment
- Documented financial need
- First Year $5,500
- Second Year $6,500
- Third & Fourth Year $7,500 per year
- Maximum fee of up to 4% deducted from loan proceeds
- Meet federal eligibility requirements
- Rate is fixed at 5.6% for subsidized loan and fixed at 6.8% for unsubsidized loans
- Federal government pays interest through grace period on subsidized loans
- Repayment begins 6 months after graduation/termination of enrollment or dropping below half-time status
- Transfers may receive deferment if enrolled as a half-time student
- Normal repayment period is 10 years
Subsidized (need-based)
Unsubsidized (not need-based)
- Up to Cost of Attendance minus Financial Aid
- Rate is fixed at 8.5%
- Maximum fee of up to 4% deducted from loan proceeds
- Repayment begins 45-60 days after loan is fully dispersed and normally takes 10 years
Loan program for parents who wish to borrow
Federal Work Study
- up to $1,500
- Part-time employment on campus
- The dollar figure awarded is not a guarantee, but a maximum amount you may earn
- Income for such employment comes in the form of a paycheck every two weeks and is not used as a credit for academic year costs
