Subsidized Loans are awarded on the basis of financial need. Interest is not charged before you begin repayment or during authorized periods of deferment. The interest is "subsidized" by the federal government.
Unsubsidized Loans are not awarded on the basis of financial need. Interest is charged from the date the loan is disbursed. If you choose to defer payment, the interest will be capitalized and added to the principal amount of your loan.
PLUS loans are offered to parents of dependent students to cover up to the cost of education.
Alternative Loan Programs are offered to students. Eligibility is determined by credit scores and ability to repay by the lenders.
Grant Programs
Federal Pell Grant Program
A pell grant does not have to be repaid. Students may receive only one Pell Grant in an award year. A student must be an undergraduate to receive a Pell Grant. An undergraduate is defined as a student who is enrolled in an undergraduate course of study and who has not earned a bachelor's degree or it's equivalent.
SEOG (Federal Supplemental Educational Opportunity Grant
A Federal SEOG does not have to be repaid. SEOG is awarded to students with exceptional financial need. Students may be awarded SEOG based on the availability of funds. There is no guarantee that every eligible student will receive SEOG.
Federal Work Study Program
The Federal Work-Study Program provides jobs for undergraduates and graduates with financial need, allowing them to earn money to help pay their education expenses. To be eligible, students must complete the FAFSA and contact the appropriate FWS counselor for additional paperwork. Job availability is determined on a term by term basis to ensure the equitable distribution of FWS funds.
The America Reads Program
In August 1996, President Clinton urged every American to join the America Reads Challenge to help more children read independently and on-level by the third grade. This call to service has been met with an overwhelming response all over the nation. It has given colleges and universities the opportunity to foster and promote academic excellence through reading improvement.
The America Reads Program works in conjunction with the Federal Work-Study Program to battle illiteracy in our communities. Students participating in the program are compensated, and are able to work up to 20 hours per week.
Eligibility:
To be eligible to participate in the America Reads Program as a Federal Work-Study recipient, students must have:
Successfully completed English 101
Excellent oral and written abilities
The ability to work with young students
Veteran's Education Benefits
Veterans and Dependents with questions about VA Benefits can call 1-888-GI-BILL I or visit their web site at http://www.gibill.va.gov. You can get information 24 hours a day, 7 days a week about your own benefits account if you receive Montgomery GI Bill Benefits. You will be able to speak with an Education Case Manager Monday thru Friday during normal business hours.
Students must submit an application and the DD-214, along with a copy of their registration form. Applications can be obtained online at the address above or from the Office of Financial Aid.
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