Federal Loans and Grants
- Federal Pell Grants are based on financial need determined by the FAFSA and range from $400 to $4,050. You must be in good academic standing to keep this award.
- Federal Supplemental Education Opportunity Grants are rewarded based on financial need and recommendations and range from $200 to $4,000. They are also determined by the FAFSA. Good academic standing is required.
- Federal Parental Loan to Undergraduate Students (PLUS) is a loan for the parents of dependent students, who are eligible based on educational costs minus financial aid. The interest rate is variable, but capped at 9 percent; repayment begins within 60 days.
- Federal Carl D. Perkins Loans are based on exceptional financial need on the FAFSA and can total up to $4,000 a year or $15,000 over the undergraduate years. Good academic standing is required.
- Federal Stafford Loans are based on the FAFSA and have a cumulative limit of $23,000 over the undergraduate years. Limits for each year are $2,625 for freshmen, $3,500 for sophomores and $5,500 for juniors and seniors. Variable interest rates are capped at 8.25 percent, and the repayment schedule varies between the subsidized and unsubsidized loans.
- Subsidized Federal Stafford Loans begin the repayment period six months after you are no longer enrolled at least half-time. The government pays the interest while you are in school.
- Unsubsidized Federal Stafford Loans also begin the repayment period six months after you are no longer enrolled at least half-time. However, you must pay the interest during your time as a student.
- Federal Work Study is a program that provides undergraduate student jobs for students with financial need. Although the amount of work-study aid is based on a student's need, the most you can work is 12 hours a week to earn a maximum of $2,000 a year to help pay for education expenses. Work study cannot pay for tuition or room fees.
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Federal Aid