Available

The Pell Grant is need-based assistance that does not have to be repaid unless a college student withdraws from school. Pell is awarded to college students who have a financial need as determined by a standard federal formula, which takes into consideration family size, income, and resources to determine need. Annually, the U.S. Department of Education determines student eligibility for this grant. This grant is available to undergraduate students who have not earned a bachelor’s or a professional degree.

The amount of Federal Pell Grant funds available to the college student over their lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding you can receive each year is equal to 100%, the six-year equivalent is 600%. The calculation of the duration of a college student’s eligibility will include all years of the student’s receipt of Federal Pell Grant funding. College students can monitor their aggregate balance on the NSLDS website at studentaid.gov.

The FSEOG is a grant program for undergraduate students with exceptional need with priority given to students with Federal Pell Grant eligibility. The federal government allocates FSEOG funds to participating colleges. Unlike loans, FSEOG funds do not have to be repaid.

The William D. Ford Federal Direct loans are low-interest loans that are made available to the student. The loan must be used to pay for direct (tuition, fees, books and supplies) and indirect (room, board, transportation and personal expenses) educational expenses. Subsidized loans are based on family income and college student need while unsubsidized loans are not. College students repay their loans beginning six months after they graduate, withdraw from the College, or fall below half-time enrollment status.

The William D. Ford Federal Direct PLUS Loan is a low-interest loan available to parents of dependent undergraduate students. These loans are not based on need but when combined with other resources, cannot exceed the college student’s cost of education. The U. S. Department of Education requires a credit check on the parent borrower. Either or both parents may borrow through this program. Repayment begins within 60 days of final disbursement of the loan within a loan period. Parents may request deferment of payments while the student is attending at least half-time.

Any awards from the federal loan programs must be repaid in accordance with the terms of the promissory note, which is signed by either the student or the parent.

FWS is a financial aid program designed to assist college students in meeting the cost of their education by working part-time while attending the College. Positions may either be on-campus, off-campus, or community- service related. A candidate must demonstrate financial need to be awarded FWS. The number of positions available may be limited depending upon the College’s annual funding allocation from the federal government.