Federal Programs
Federal Pell Grant
The Pell Grant is available to undergraduate students enrolled in their first baccalaureate degree program, demonstrating financial need, and meeting other eligibility requirements. Awards are determined by the Estimated Family Contribution (EFC) and are awarded per academic year depending on student eligibility, enrollment status, and federal appropriations. (The awards range for the 2021-2022 Award Year is $672 to $6,495). There is a six-year limitation on Pell Grants, including payments received at other institutions.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG awards are made to Pell-eligible students with the lowest EFC. Awards are based on available funding.
TEACH Grant
Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants to students who intend to teach in a high-need field at an elementary or secondary school that serves students from low-income families. Contact the Office of Financial Aid for additional eligibility criteria.
Federal Direct Loans
This program provides loans up to $7,500 for dependent undergraduate students and up to $12,500 for independent undergraduate students. Interest rates are set by the Federal Government on July 1 of each year. Direct Stafford Loan funds come directly from the Federal Government and can be subsidized and/or unsubsidized. Subsidized loans are awarded on the basis of financial need, and unsubsidized loans are not. Students must be enrolled at least half-time in an eligible program to receive a Direct Stafford Loan.
First time Direct Subsidized Stafford Loan borrowers as of July 1, 2013 are subject to a maximum eligibility period of 150% of their scheduled academic program, regardless of the amount of money borrowed each year. For example: a student enrolled in a four-year Bachelor’s degree program is eligible to borrow Subsidized Loans for up to 6 years.
Repayment of the Direct Loan(s) begins six months after the date the borrower graduates, withdraws from school or ceases to be enrolled at least half-time. The program offers various repayment plans to assist the borrower in repaying the loan.
Federal Direct Parent Loan for Undergraduate Students (PLUS)
Through this program, parents with good credit histories may borrow funds to pay the educational expenses of each child who is a dependent undergraduate. The annual limit on the Direct PLUS Loan is equal to the cost of education minus any financial aid the student receives. The interest rate on the Direct PLUS Loan is a fixed interest rate that is set by the Federal Government each year on July 1.
Repayment generally begins within 60 days after the final disbursement for the academic year; however, deferment options exist to postpone repayment. The PLUS Loan program offers three repayment plans to assist the borrower in repaying the loan.
PLEASE NOTE: The student must first complete the Free Application for Federal Student Aid (FAFSA) in order for the parent to apply for the PLUS Loan.
PLUS Loans for Graduate Students
Students matriculated in a program leading to a masters or doctoral degree are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS Loans. Applicants for Graduate PLUS loans must first complete the Free Application for Federal Student Aid (FAFSA and have applied for their maximum eligibility under the Federal Direct Unsubsidized Stafford Loan Program.
For more information about the Graduate PLUS, visit https://studentaid.gov
Federal Work-Study (FWS) Program
The FWSP provides part-time and summer jobs both on campus and in off-campus agencies, for students who demonstrate financial need. Students must be matriculated and complete the FAFSA.
Within the limitations of individual financial need and employment funding, students may work up to 20 hours per week while classes are in session or up to 30 hours during school breaks and holidays. Anyone interested in acquiring a position should complete the FWS Application and follow the instructions listed on the website. Positions are limited.