| Program |
Amount |
Criteria (FAFSA is required for annual awards) |
| Federal Pell Grant |
$400-4,731 |
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 |
Documented financial need
Interest rate fixed at 5%
Repayment begins 9 months after graduation/termination of enrollment |
| Federal Stafford Loan
subsidized (need-based)
unsubsidized (not need-based) |
First Year $3,500
Second Year $4,500
Third & Fourth Year $5,500 per year |
Maximum fee of up to 4% deducted from loan proceeds
Meet federal eligibility requirements
Rate is fixed at 6.0% (effective 7/1/08) 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 |
Federal PLUS Loan
(Loan program for parents who wish to borrow) |
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. |
| 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. |
