The following is a comprehensive list of federal financial aid options. If you have any additional questions regarding the information, you may contact our office at apply4$@friends.edu or 316-295-5200.

Pell Grant
The Pell Grant is a federal grant that is given based on the need of the student. To determine if you are eligible for this grant you must complete the Free Application for Federal Student Aid (FAFSA). The maximum amount you may be eligible for as a full-time student was $5,350 during the 2009-2010 award year, for example. Depending on need and the number of hours that you are enrolled in, that amount may be as little as $486. Since this is a need-based grant not everyone who applies will be eligible.

Academic Competitiveness Grant (ACG)
The Academic Competitiveness Grant provides up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study.  To receive an ACG, a student must be a Pell-eligible student (see Pell Grant for criteria), be enrolled at least half-time, be a first-year or second-year undergraduate student, have completed a rigorous secondary school program of study, and, if a first-year student, have completed secondary school after Jan. 1, 2006, or, if a second-year student, have completed secondary school after Jan. 1, 2005, and have at least a 3.0 grade point average as of the end of the first year of undergraduate study.

National Science & Mathematics Access to Retain Talent Grant (SMART Grant)
The SMART Grant is available during the third and fourth years of undergraduate study to full-time students who are eligible for Pell Grant (see Pell Grant for criteria) and who are majoring in physical, life, computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security. The student must also be enrolled in the courses necessary to complete the degree program and to fulfill the requirements of the intended eligible major in addition to maintaining a cumulative grade point average (CGPA) of at least 3.0 in course work required for the major.

Federal Supplemental Educational Opportunity Grant (FSEOG)
A federal grant for students with exceptional financial need and low family contribution (priority given to Pell recipients). To apply you must complete the FAFSA. Funds are limited and awarded on an availability basis.

Priority consideration is March 1.

Federal Stafford Loans
A long-term loan for eligible students. These loans are funded by the government to students for the purpose of aiding in the education process. If you are a student enrolled in an eligible program of study at least half-time, you may receive a Stafford Loan. To determine eligibility you must complete the FAFSA and meet other general eligibility requirements. In addition, a promissory note must be completed. Stafford Loans are either subsidized or unsubsidized.

• Subsidized Stafford Loan
  Subsidized Stafford Loans are awarded on the basis of financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government subsidizes the interest during these periods.
• Unsubsidized Stafford Loan
  Unsubsidized Stafford Loans are not awarded on the basis of need. You will be charged interest, at a rate of 6.8 percent, from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized – that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount. You may receive a subsidized loan and an unsubsidized loan for the same enrollment period.

Federal Perkins Loan
A long-term loan for eligible students with exceptional financial need. To determine eligibility you must complete the FAFSA. In addition, a promissory note must be signed with the University. Funds are limited and awarded on an availability basis.

Priority consideration is March 1.

Federal Parent Loan (PLUS)
A long-term, no-need loan for parents of dependent students. To apply, parents must complete an application and a promissory note.

Federal Work-Study
Eligibility for the Federal Work-Study Program is based on financial need. Students must complete the FAFSA. Students may apply for employment in the Student Development Office.

TEACH Grant
The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families and teach in a high-need field.  TEACH Grant recipients must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. If a recipient fails to complete the service requirements, all amounts of TEACH Grants received will be converted to a Federal Direct Unsubsidized Stafford Loan that requires repayment to the US Department of Education. Interest will be charged from the date the grant(s) was disbursed.  Contact the Financial Aid Office for more information.