[Financial Aid: Federal Aid]
Federal Financial Aid
The following is a comprehensive list of federal financial-aid options. If you feel that you are eligible to receive one or more of the above types of aid, follow the steps needed to apply for the aid. If you have any additional questions regarding the information that 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 or FAFSA. The maximum amount you may be eligible for as a full-time student was $4,731 during the 2008-2009 award year, for example. Depending on need and the number of hours that you are enrolled in, that amount may be as little as $523. Since this is a need-based grant not everyone who applies will be eligible.
Federal Supplemental Educational Opportunity Grant (SEOG)
A federal grant for students with exceptional financial need and low family contribution (priority given to Pell recipients). To apply you must complete the Free Application for Federal Student Aid (FAFSA). Funds are limited and awarded on an availability basis.
Priority consideration is March 1.
Federal Stafford Loans
A long-term need-based 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 Free Application for Federal Student Aid (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 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 principle 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 Free Application for Federal Student Aid (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 you 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 Free Application for Federal Student Aid (FAFSA). Students may apply for employment in the Student Development Office.
