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 $5,730 during 2014-15, for example. This figure is dependent upon need and the number of hours in which you are enrolled. Eligibility is limited to 12 semesters or the equivalent. Since this is a need-based grant, not everyone who applies will be eligible.
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 Direct Loans
Federal Direct Loans are long-term, need-based loans 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 Direct Loan. To determine eligibility you must complete the FAFSA and meet other general eligibility requirements. Eligibility is limited to $57,500 (only $23,000 may be subsidized). In addition, a promissory note must be completed. Direct Loans are either subsidized or unsubsidized.
Subsidized Direct Loan
Subsidized Direct 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 Direct Loan
Unsubsidized Direct 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 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 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, complete the FAFSA and parents must complete an application and a promissory note. Contact the Financial Aid Office at 316-295-5200 or email@example.com for more information.
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.
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 Loan that requires repayment to the U.S. Department of Education. Interest will be charged from the date the grant(s) was disbursed.
Contact the Financial Aid Office at 316-295-5200 or firstname.lastname@example.org for more information.