Federal Pell Grants:

Pell Grants are awarded to eligible students who have not earned a bachelor’s degree.  To determine eligibility, the U. S. Department of Education uses a standard formula to evaluate financial need.  Unlike loans, Grants do not have to be repaid.

 

Federal Direct Loans:

    • Subsidized
      Students may be eligible based on need.  The subsidized has a fixed interest rate. The federal government pays the interest on the loan while the student is in attendance at least halftime. Repayment begins six (6) months after the last day of attendance or once the student falls below half-time status.

 

    • Unsubsidized:
      Available to dependent and independent students who need additional assistance to help pay their educational cost.  The student is responsible for the interest payments on the loan while in school.  The interest rate is fixed and repayment begins six (6) months after the last day of attendance or once the student falls below half-time status.

 

  • Federal Parent Plus Loans:
    Federal loans are available to parents of dependent students. Parents can borrow up to the cost of attendance, less other financial aid received.  Approval is based on the parent(s) credit history and repayment begins sixty (60) days from the last date disbursement of the loan.