Financial Assistance

Federal Financial Assistance Programs

Pell Grant

This program was established for undergraduate students who have not completed a first baccalaureate degree. Eligibility is determined according to a formula established by the federal government. Eligible students who attend less than full-time may also be eligible to receive a reduced award.

Supplemental Educational Opportunity Grant (SEOG)

This program was established for undergraduate students with exceptional financial need. Students must apply by the deadlines published each year to be considered for this program.

Federal Work Study Program

This program provides part-time employment for students with financial need. Jobs may be provided on or off campus, with work schedules determined by the employer. Work schedules may not conflict with students' class schedules. Employment under this program is dependent on the availability of federal funds.

Stafford Loans

Stafford loans are made available to students attending college on at least a half-time basis through the William D. Ford Federal Direct Loan Program. Within these programs there are two types of loans: subsidized loans (those subsidized by the federal government) and unsubsidized loans. A student may qualify for one or both, depending upon eligibility. Repayment is made in installments, generally beginning six months after a student leaves school or from the point his or her enrollment status falls below half time. The federal government pays interest on the subsidized loan until repayment begins and during authorized periods of deferment. Students with unsubsidized loans are charged interest from the time the loan is disbursed until it is paid back in full.

PLUS Loans

Parent Loans for Undergraduate Students are available to the parents of dependent students. This loan program is made available for students attending college on at least a half-time basis through the William D. Ford Federal Direct Loan Program. These unsubsidized loans enable parents to borrow up to the cost of attendance minus other aid received by the student. Repayment is made in installments beginning upon the final disbursement within the first loan period. Interest is charged from the time of disbursement until the loan is paid in full.

Perkins Loans

This program was established to provide a low interest loan for undergraduate students with exceptional financial need. Loans are made in amounts up to $4,000 per year. Interest begins to accrue when repayment begins, nine months after a student leaves school.