Federal programs require completion of the FAFSA
ACG -(Academic Competitiveness Grant)
Pell eligible Freshmen and Sophomores based on need and academic performance. Freshmen must provide final high school transcript to verify ONLY ONE: advance/honors diploma, rigorous program, or required credits. Freshmen awards are $750. Sophomores are required to have a cumulative 3.0 GPA at the end of their freshmen year and be a U.S. citizen. Sophomore awards are $1300.
SMART - (National Science and Mathematics Access to Retain Talent Grant)
Pell eligible Juniors and Seniors with a cumlative 3.0 GPA and majoring in physical, life, or computer science, engineering, mathematics, technology, or a critical foreign language. Students are required to be a U.S. citizen and take a least one course required for their major each semester. Awards are $4000.
NEW for 2008! TEACH-(Teacher Education Assistance for College and Higher Education Grant)
Requires demonstrated need. Awards are $4000.
Pell Grant
Requires demonstrated need. Awards range from $400 to $4,050.
SEOG -(Supplemental Educational Opportunity Grant)
Requires demonstrated need. Student must be eligible for a Pell Grant. Awards range from $200 to $2,000.
Perkins Loan
Low interest loan offered to students with exceptional need. The 5% interest rate does not accrue during full-time enrollment. Repayment begins nine months after a student ceases to be enrolled at least half-time in any given semester.
Stafford Loans
Virtually all students will be eligible to borrow using this type of loan. Students who have demonstrated need based on the FAFSA will be entitled to borrow a loan which will be subsidized by the government while they are enrolled at least half-time. Students who do not show need will also be eligible to borrow, however, the loan will not be subsidized by the government and interest will begin accruing as soon as the funds have been disbursed. Currently the interest rate is 6.8%. The annual loan limit for freshmen is $3,500, $4,500 for sophomores (effective July 1, 2007); and $5,500 for juniors and seniors.
New for 2008-2009: Subsidized Stafford interest rate will be 6.0%; Unsubsidized Stafford interest rate will be 6.8%; all students will qualify for an additional Unsubsidized Stafford loan amount of $2000 (effective July 1, 2008).
Work-study
Full-time students with proven financial need are eligible to apply for a Federal Work-study Program position and may earn up to $1,500 an academic year by working in a position on campus. The amount of the award depends on when the student applies, financial need and the school funding level. Students who complete the FAFSA by the priority deadline of March 1 and complete the verification process, if selected by the federal government, and pay the deposit or continuing enrollment fee by the specified deadline are given preference. The amount of each check will be based on the number of hours the student worked within the pay period. Students will receive a paycheck twice a month. If "Work-study" is on the Financial Aid Award letter, the student may go online beginning in Mid-May to apply for a work-study position. Actual work does not begin until the first week of school.
Parent Loans for Undergraduate Students (PLUS)
Parents may borrow up to the cost of attendance, less any financial aid the student receives. Completion of the FAFSA is not required. Repayment begins within 60 days once funds have been fully disbursed.