Federal
Federal Pell Grant: This
federally funded grant is awarded on the basis of financial need.
This grant is the foundation upon which all other aid is based.
Federal Supplemental Educational
Opportunity Grant: This federally funded grant is awarded to
students based on financial need.
Federal Teacher Education Assistance for
College and Higher Education (TEACH) Grant: Students who
intend to teach in a public or private elementary or secondary
school that serves students from low-income families may be
eligible for this grant. In exchange for receiving a TEACH
Grant, students must agree to serve as a full-time teacher in a
high-need field in a school that serves low-income families.
Students must teach for at least four academic years within eight
calendar years of completing the program of study for which they
received a TEACH Grant. Failure to complete this service
obligation will result in the grant being converted to a Federal
Direct Unsubsidized Stafford Loan.
Federal Perkins Loan (formerly National
Direct Student Loan): This need-based loan is funded by the
federal government and the College.
Direct Subsidized Stafford
Loan: This need-based program enables students to
borrow from a local lending institution, such as a bank or credit
union. The loan is insured by the federal government, and the
federal government pays the interest while the borrower is enrolled
in school at least half-time, during a grace period, and during
authorized periods of deferment. Interest will begin to accrue from
the beginning of the repayment period.
Direct Unsubsidized Stafford
Loan: This is a non-need-based Stafford Loan. The student is
responsible for the interest during in-school and deferment
periods.
Direct PLUS Loans: This loan
program enables parents with good credit histories to borrow for
each child who is enrolled at least half-time and who is a
dependent student. There is no grace period for these loans.
Work-Study Programs:
Federal programs provide part-time employment opportunities
for students who need financial assistance. Employment in the
College work-study program takes place mostly on campus and is
based on need.