Federal Aid

Federal Pell Grant

The Pell Grant amount is determined by the information provided on the FAFSA.
Available to undergraduates based on need.
You are guaranteed to receive the full amount for which you qualify, and the funds do not have to be repaid.

Federal Supplemental Educational Opportunity Grants (FSEOGs)

Federal Work-Study Program

Provides jobs where participants earn at least the federal minimum wage.
Work-study jobs are awarded by schools as part of their financial aid package to students with financial need.
May be on or off campus usually with private or non-profit organization.
Check with your school for deadline to apply.
Schools typically pay a student directly, but sometimes arrangements are made to apply the wages to the student's school account.

Federal Perkins Loan

Low-interest loan for undergraduate and graduate students with financial need.
Campus-based loans where school acts as lender using a combination of federal and school funds.
Not all students that qualify are awarded a Perkins Loan.
Repayment begins nine months after leaving school or dropping below half-time status. Payments may be up to 10 years in duration.
Undergraduates may be awarded and borrow up to $5,500 per year to a cumulative maximum of $27,500.
Graduate students may be awarded and borrow up to $8,000 per year to a cumulative maximum of $60,000.
Some institutions choose to award Perkins Loans only to undergraduate students.

Federal Stafford Loan

Available for eligible undergraduates and graduate students.
New loans have a fixed interest rate, and the maximum loan amount varies by grade level and the student dependency status.
Loans are either subsidized or unsubsidized. Subsidized loans are interest-free while the student is enrolled at least half time in college; unsubsidized loans begin to accrue interest when the loan is disbursed.
You must meet a list of requirements.
Six-month grace period after leaving school or dropping below half-time status before regular payment begins.

PLUS Loan

PLUS loans are available to parents of dependent undergraduate students to pay college costs for their children. PLUS loans also may be borrowed by graduate/professional students to pay their own education expenses.
Loan amount is limited to Cost of Attendance (COA) minus other financial aid.
PLUS loans are available regardless of financial need, and no collateral is required; however, credit checks are performed.

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