Types of Federal Aid

Below is a brief description of each form of aid offered, but for more detailed information, please visit the Federal Student Aid website.

 

Federal Pell Grant

A grant for students with demonstrated financial need who have not obtained a bachelor’s or professional degree. These grants can award as much as $5775.00.

Federal Supplemental Educational Opportunity Grant (FSEOGs)

A grant for undergraduate level students with demonstrated financial need. Those who will receive Pell Grants will receive an FSEOG first, which will award between $100.00–4000.00.
Federal Work-Study Program – Part-time work offered by the school to students regardless of whether they hold a degree of any type. Positions around the school will be available at an hourly rate of pay.

Federal Stafford Loans

Low interest loans available to students regardless of degree status. Stafford loans come Subsidized or Unsubsidized. Unsubsidized loans are available to all students without consideration of financial need while Subsidized loans are available to students with demonstrated financial need. Stafford loans do not enter repayment until six months after leaving the school. See Table below for Loan Limits

Federal Parent PLUS Loan

Loans available to parents of non-degree holding dependents. Parents may take out up to the full tuition for year minus any other loans the student may accept from their award. Repayment generally begins within 60 days of loan disbursement.

MAXIMUM STAFFORD LOAN LIMITS
Eligibility for Stafford Loans depends on dependent/independent status, how many years of study they have completed, and can only be determinded by completing the FAFSA.
Subsidized Unsubsidized
1st Year Dependent Student
$3,500
$2,000
2nd Year Dependent Student
$4,500
$2,000
1st Year Independent Student
(and dependent student whose parents are unable to obtain a PLUS loan)
$3,500
$6,000
2nd Year Independent Student
(and dependent student whose parents are unable to obtain a PLUS loan)
$4,500
$6,000
Dependent Cumulative Maximum Stafford Debt
(Aggregate Limit)
$23,000
$8,000
Independent Cumulative Maximum Stafford Debt
(Aggregate Limit)
$23,000
$34,500

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