Financial Aid Program

Title IV is an entitlement program, designed to assist those who need it to attend a post-secondary educational institution. Pell Grants are designed to be the floor of a Financial Aid package and must be combined with other forms of aid in order to meet the full cost of education. The amount of Title IV entitlement is determined on a basis of the cost of education at the institution attended and the actual number of credits for which enrolled. One must reapply annually for Title IV consideration. Students must be enrolled in an eligible degree or certificate program. For further information on Title IV filing, check with the Financial Aid Office.

Grants: Limited to students in an undergraduate program who have financial need and have never earned a baccalaureate degree. This aid does not have to be repaid in most cases.

Federal Pell Grant: Grants may be awarded if you show financial need based on the Free Application for Federal Student Aid (FAFSA). This is a need-based federal grant program for students who are seeking their first undergraduate degree .

Federal Supplemental Educational Opportunity Grant (FSEOG): This is a need–based federal grant awarded to undergraduates seeking a first undergraduate degree in an eligible program who have exceptional financial need. Limited funding is available in this program and funding is awarded on a first come–first served basis. Recipients are chosen based on EFC and application date, and funds are usually not available to late applicants. Initial awards are estimated based on the results of the FAFSA and assume a full time enrollment.

Federal Direct Loan: Federal Loans are established and supported by the federal government and the Department of Education serves as a lender. Applicants must first apply for the Free Application for Federal Student Aid (FAFSA). ALL FEDERAL DIRECT LOAN MUST BE PAID BACK. Repayment begins 6 months after you leave school or drop to less than half-time status. To receive any loans, student must be enrolled in at least 6 credits each term toward to a degree program. A Master Promissory Note and Entrance Counseling are required. To learn more please visit https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized
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• Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs. The government will pay the interest while you are enrolled in school.

• Direct Unsubsidized Loans are loans made to eligible undergraduate, but eligibility is not based on financial need. The student is responsible for paying the interest while in school and after.

• Direct PLUS Loans are loans made to parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Parents of dependent students may borrow on behalf of their children. Parents’ loans must be repaid over a 10-year period with interest beginning 60 days after disbursement.
   

Links:

FAFSA – https://studentaid.gov/h/apply-for-aid/fafsa

Federal Direct Loan (Master Promissory Note) - https://studentaid.gov/mpn/ and the Entrance Loan Counseling – https://studentaid.gov/entrance-counseling/

Private Loan Resources:

Credible – https://www.credible.com/