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Deadlines |
Types of Aid |
Satisfactory Standards |
Loan Info |
Transfers |
FAQs |
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| Types of Financial Aid |
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Federal Grant Programs
- Federal Pell Grant
- Awards can range from $555-$5550 for the 2011-2012 academic year.
- Available only to eligible undergraduates pursuing a first undergraduate
degree.
- Students enrolled less than half-time may be considered for a Pell
Grant.
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Available only to eligible undergraduates enrolled at least half-time
(6 hours); must be Pell eligible.
- Awards are based on the availability of funds, and average approximately
$600 per academic year.
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Federal Work Study Program
- Provides jobs on or off campus to eligible undergraduate and graduate
students.
- Students are assigned to a university department or a community
service agency for an average of ten hours per week and paid the federal
minimum wage.
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| Federal Student Loan Programs |
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- Federal Perkins Loan
- Available to eligible students pursuing a degree or certificate.
- Student borrows directly from the University.
- Long term loan at 5% interest, with yearly awards ranging up to $5,500 for undergraduates
and $8,000 for graduates
- Funding is limited and awarded on a first come, first serve basis. Continuing
Perkins borrowers are awarded first.
- Repayment begins nine months after graduation or last date of half-time
enrollment.
- First-time borrowers must attend an initial borrowers meeting
and students graduating, leaving school or ceasing at least half-time
enrollment must attend an exit meeting.
- Federal Direct Student Loan
- Available to eligible students pursuing a degree or certificate.
- Student borrows from the U.S. Department of Education
- Must be enrolled at least half-time at the point of loan certification
and disbursement to receive loan proceeds (half-time is 3 hours
for undergraduates and graduates during summer, and 6 hours for
undergraduates and 5 for graduates for fall and spring semesters).
- First-time borrowers are required to complete Direct Entrance Counseling
before the loan can be disbursed. Borrowers must complete
Direct Exit Counseling upon graduation or falling below half-time enrollment.
- Students must sign a Master Promissory Note with the Department of Education.
- Repayment begins six months after graduation or last date of
at least half-time enrollment.
- Two types : Subsidized and Unsubsidized
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- Subsidized Federal Direct Student Loan
- Based on financial need as determined by FAFSA
- Long term loan with a fixed interest rate of 3.4% for the 2011-2012 school year (interest rates
change each year
- No interest is charged while in school at least half-time and during grace periods
and deferment periods
- Unsubsidized Federal Direct Student Loan
- Not based on financial need
- Long term loan with a fixed interest rate of 6.8% for the 2011-2012 year.
- Interest accrues (accumulates) on an unsubsidized loan from the time
it's first paid out. The student can pay the interest while in school
and during grace periods and deferment or forbearance periods, or
allow it to accrue and be capitalized (that is, added to the principal
amount of the loan). If no payment is made on the interest as it accrues
this will increase the total amount to repay because interest will be
charged on a higher principal amount.
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Annual and Aggregate Loan Limits
The total amount of Subsidized and Unsubsidized Federal Student Loan cannot exceed
the annual and aggregate (total) loan limits as stated in the chart below.
| Year |
Dependent Undergraduate Student |
Independent Undergraduate Student |
Graduate and Professional Degree Student |
| First Year |
$5,500-No more than $3,500 of this amount may be in subsidized loans. |
$9,500-No more than $3,500 of this amount may be in subsidized loans. |
$20,500-No more than $8,500 of this amount may be in subsidized loans. |
| Second Year |
$6,500-No more than $4,500 of this amount may be in subsidized loans. |
$10,500-No more than $4,500 of this amount may be in subsidized loans. |
| Third and Beyond (each year) |
$7,500-No more than $5,500 of this amount may be in subsidized loans. |
$12,500-No more than $5,500 of this amount may be in subsidized loans. |
| Maximum Total Debt from Direct Loans when you graduate (aggregate loan limits) |
$31,000-No more than $23,000 of this amount may be in subsidized loans. |
$57,500-No more than $23,000 of this amount may be in subsidized loans. |
$138,500-No more than $65,500 of this amount may be in subsidized loans. The
graduate debt limits includes student loans received for undergraduate study. |
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- Federal Direct PLUS Loan
- Students must complete the Free Application for Federal
Student Aid (FAFSA) to be considered for the Federal Direct PLUS
Loan.
- PLUS Loans are available to parent borrowers for dependent
students.
- Parent borrows from the U.S. Department of Education.
- Long term loan with a fixed interest rate of 7.9%.
- Student must be enrolled at least half-time for parent to recieve a PLUS loan.
- The annual loan limit is the student's cost of education,
minus any other financial aid award and/or resources.
- PLUS Loans are not based on financial need; however,
a credit check is required and loans may
not be approved for applicants who have adverse credit history.
- Repayment usually begins 60 days after the first disbursement.
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| Financial Aid Calculators |
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| To get an estimate of how much school will cost, how much you will need
to save, how much aid you'll need or a Free Scholarship Search, visit the FinAid
website. |
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| Enrollment Management |
Admissions/Enrollment Services |
Registrar |
Scholarships |
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