• Federal Financial Aid
    The Federal Government offers programs to help pay for college:
     
    Pell Grant
    Supplemental Education Opportunity Grant (SEOG)
    TEACH Grant
    College Work Study
    Perkins Loan
    Direct Stafford Loan Programs
    Direct Parent PLUS Loan
     Federal Pell Grant
    • Must file FAFSA (Free Application for Federal Student Aid)
    • Based on Need
    • Up to $5,500
    • Award based on enrollment status; Full-Time, Part-Time, or less than Half-Time
     Supplemental Educational Opportunity Grant (SEOG)
    • Must file FAFSA (Free Application for Federal Student Aid)
    • Based on Need
    • Up to $4,000 a year (depending on school)
    • Limited Funds
     TEACH Grant
    Teacher Education Assistance for College and Higher Education (TEACH)
     
    Maximum Award
    • Up to $4,000 per year
     
    Eligibility Criteria
    • Enrolled in an eligible program, and agree to teach in a critical subject, in a critical geographical area, for at least four years within eigh years of completing the program for which the TEACH Grant was awarded
    • Failure to teach requires repayment under terms of an Unsubsidized Direct Loan
     
    To Apply
    Check with the financial aid office at your institution for availability and application procedures
    May not show on award letter unless you ask
     Federal College Work Study
    • Must file FAFSA
    • Based on need
    • Limited Funds
    • Students work up to 20 hours/week - earn a paycheck
    • Usually work on campus
     Federal Perkins Loan
    • Federal Loan Program
    • 5% Interest
    • Subsidized - No interest accrues while in school
    • Administered by the college
    • Based on need
    • Funds are limited
    • Forgiveness for teaching and health-related professions
     Federal Direct Stafford Loan
    • Loan made to the student
    • Loan limits are based on grade level; Freshman is $5,500 combined between Subsidized and Unsubsidized
     Subsidized Loan
    • Must file FAFSA
    • Based on need
    • Interest paid by government while in school
    • 6-month grace period prior to repayment
    • Interest rate:4.45%
    • Fees: 1.066% 
    Unsubsidized Loan
    • Must file FAFSA
    • NOT based on need
    • Interest NOT paid by government while in school
    • 6-month grace period prior to repayment
    • Interest rate:4.45%
    • Fees: 1.066%
    • Forgiveness for teachers if teaching five years of service at a low income school anywhere in the United States - $5,000 in forgiveness
    • Math, Science and Special Education Teachers - $17,500 in forgiveness
    • Public Service - 120 on time payments, remaining balance is forgiven
     
    To Apply
    Your school will provide instructions in the award letter. For more information visit www.studentloans.gov
     Federal Direct Parent PLUS Loan
    • Loan made to parent of an undergraduate student
    • Approval based on creditworthiness
    • FAFSA normally not required (some schools may require)
    • Loan limits based on ability to pay, can not exceed the 'cost of attendance'
    • Payments begin 60 days after final disbursement of the loan OR 6 months after the student exits school
    • Interest Rate: 7%
    • Fees: 2.5-4%
     
    To Apply
    Your school will provide instructions in the award letter.