Federal Pell Grant The Federal Pell Grant is a need based grant offered to undergraduate students who do not already have a bachelor degree, in which, is funded by the federal government. Application for the Pell Grant is done by completing the FAFSA (www.fafsa.gov) each year. Grant amounts are based on a financial need formula combined with the student’s enrollment level. Please check with the Financial Aid Department for further information. As of July 1, 2012, Pell Grants are limited to six years of lifetime eligibility [Lifetime Eligibility Usage (LEU) maximum is 600%]. To confirm your current status, please check your NSLDS information (www.nslds.ed.gov). Federal SEOG Grant The SEOG grant is a campus based program that is funded from the federal government and is very limited in funding, therefore, it is very important to apply for financial aid as early as possible. The FAFSA must be completed to assist in determining financial need. Awards are first given to students with the lowest EFC according to their FAFSA application. Please check with the Financial Aid Department for further information. Federal Work Study Eligibility for this program is based on financial need, as determined by the results of the FAFSA, and funds are limited. Jobs are offered to undergraduate and graduate students. The pay is based on at least the federal or state minimum hourly wage. The total hours worked is based on how much money you are awarded in this program. Most students work 10 to 20 hours each week. Earnings from the Federal Work Study Program are not counted as income when a student applies for aid the following year. Jobs can be on campus or off campus in community service. Students receive a regular paycheck. Federal Direct Education Loans The U. S. Department of Education’s Federal Direct Education Loans fall under the jurisdiction of the William D. Ford Federal Direct Loan Program. Federal Direct Education loans are low-interest loans intended to help students and parents pay for a college education. If you think you need to apply for a loan, the Federal Direct Education loans should be your first source to fund your education. Alternative education loans are to be used to provide additional funding for your education after federal loans are sought. In order for you to understand the specifics of the loan you will need, you should meet with a Financial Aid Advisor at the university. The advisor can develop a student financial aid plan based on your specific set of circumstances. Each student will need to complete a FAFSA as it will assist in determining loan eligibility. The Federal Direct Education loan program offers the following types of loans: Subsidized: for undergraduate students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is attending school at least halftime and during deferment periods. Unsubsidized: for undergraduate and graduate students. It is not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods. Parent PLUS: unsubsidized loans for the parent borrower of dependent students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. Graduate Plus: unsubsidized loans for students enrolled in a graduate/professional program (For example, master’s degree. Certificate programs or students enrolled in courses to gain entry into a master’s program are not eligible). Student must meet all of the other general eligibility requirement for Federal Financial Aid. In addition, you must not have an adverse credit history (a credit check will be required). The Graduate Plus loan helps to cover expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. Consolidation: Eligible federal student loans can be combined into one direct consolidation loan. You borrow the Federal Direct Education loans from the Federal government, and the direct loan servicing center becomes your single source for managing the repayment of your federal student loans. For general information, visit the direct loan program site (www.studentloans.gov ). This site will provide you with information about loan limits, regardless of whether you are a dependent student applying for a loan with your parents or an independent student applying for a loan without your parents’ help. Before you apply for a Federal Direct Education loan, you must work with your Financial Aid Advisor to determine your eligibility and to complete necessary paperwork, including loan counseling as appropriate.