AID PROGRAM
|
DESCRIPTION |
ANNUAL AMOUNT |
REPAYMENT |
| Federal Parent Loan for
Undergraduate Students (PLUS) |
Loans available to a student's parents, with
annually adjusted interest rates (9% A.P.R. max.) Each school determines eligibility, but not based on financial need. |
Cost of
Attendance
-Student's financial aid
=Annual Loan Amount |
Repayment begins within 60 days of receiving the loan. |
| Federal Pell Grants |
Not a loan, but a gift to qualified undergraduate students based on financial need. |
Up to $2430.00
(Subject to Federal Budget) |
None |
| Federal Work-Study (FWS) |
A job coordinated through the school which allows a student to work part-time to earn money for expenses. Eligibility is based on financial need. |
At least minimum wage. |
None |
| Federal Supplemental Educational
Opportunity Grants (FSEOG) |
Not a loan, but a gift to qualified undergraduate students based on financial need. Preference is given to Pell Grant-eligible students. |
Up to $4,000.00 |
None |
| Federal Stafford Loans
(Subsidized & Unsubsidized) |
Loans to students with variable interest rates (8.25% A.P.R. max.)
Subsidized based on financial need and defers principal & interest repayment while enrolled half time or more Unsubsidized does not defer interest and is available to students that do not meet financial need requirements.
|
Full Time Dependent Undergraduates:
1st year up to $2,625
2nd year up to $3,500
thereafter up to $5,500 |
Subsidized Loan: defers interest-free for six months after graduation or if student drops below half-time.
Unsubsidized Loan: can defer repayment but student is responsible for interest while deferring payment.
Repayment can take up to 10 years.
|