Pell Grant

This is awarded to eligible students based on need, and grants do not have to be repaid.

 

Supplemental Educational Opportunity Grant

This is awarded to the most needy students, and does not have to be repaid. These funds are limited, so an early FAFSA filing is necessary to receive this award.

 

Federal Direct Loan

This loan is obtained from the U.S. government’s Direct Loan program at low interest rates and consists of subsidized (the government pays the interest for you while you are in school) and unsubsidized (you pay interest while in school or allow it to accrue, that is, interest will be added to the principal amount and you will end up paying interest on interest)¬†loans. Repayment of principal and interest begins six months after you graduate, withdraw, or drop below half-time status. Loans may not exceed your cost of attendance.

 

Federal Parent Loan (PLUS Loan)

This loan is issued by the U.S. government’s Direct Loan program to the parents of dependent undergraduate students who qualify. Repayment of principal and interest begins sixty days after the final disbursement.

 

Federal Work Study

This provides funds which student earns through an on-campus or community service job. Funds for this are limited so an early FAFSA filing is necessary.