Federal Aid
Federal Pell Grant:
Assists low-income undergraduate student without a baccalaureate degree with cost of tuition
Amount: Ranges from $400 to $5,550 for 10-11
To Apply: Submit a Free Application for Federal Student Aid (FAFSA)
This is a need-based grant and does not need to be repaid
Federal Supplemental Education Opportunity Grant:
Amount: up to $675
To Apply: Submit a Free Application for Federal Student Aid (FAFSA)
This is a need-based grant and does not need to be repaid
Federal Academic Competetiveness Grants:
Academic Competetiveness Grants are available to freshman and sophomore students who are eligible for Federal Pell Grants and have completed a rigorous high school program or have two passing scores on AP or IB exams.
Amounts: ACG1 up to $750, ACG2 up to $1300
To Apply: Submit a high school transcript or copy of test scores directly to the Financial Aid Office
William D. Ford Federal Direct Loans:
There are three types of Federal Direct Loans for undergraduate students - Direct Subsidized, Direct Unsubsidized and Direct PLUS. The Direct PLUS loan is borrowed by the parent/legal guardian of the undergraduate student.
Direct Subsidized:
- Need based
- Interest deferred until 6 months after graduation or 1 month after withdrawing from school
- Must be enrolled at least half-time
- Loan rate fixed at 4.5%
- Loan fee: 0.5%*
Direct Unsubsidized:
- Non-need based
- Interest begins upon disbursement
- Must be enrolled at least half-time
- Interest rate fixed at 6.8%
- Loan fee: 0.5%*
Amount: The amount you can borrow is determined by your class level.
| Type of Loan | Freshman | Sophomore | Junior/Senior | Credential |
| Subsidized | Up to $3,500 | Up to $4,500 | Up to $5,500 | Up to $5,500 |
| Unsubsidized | Up to $6,000 | Up to $6,000 | Up to $7,000 | Up to $7,000 |
To Apply: Complete the Free Application for Federal Student Aid (FAFSA)
Direct Subsidized/Unsubsidized Loans are borrowed through the federal government and must be repaid.
Students receiving a Direct Subsidized/Unsubsidized Loan will be required to complete Loan Entrance Counseling and sign a Master Promissory Note before loans are disbursed.
*There is a loan fee of 1.5% of the principal amount charged for each Direct Subsidized/Unsubsidized Loan that you borrow. The total fee is reduced to 0.5% due to an “up front” interest rebate equal to 1.0% of the principal amount.
Direct PLUS Loan:
Available for dependent students. Parents with good credit ratings may borrow a loan for their dependent child's educational costs. The amount typically offered is the same as the unsubsidized loan limit, but parents may borrow up to the cost of attendance minus financial aid. The interest rate is 7.9%. The loan fee is 2.5% (There is a loan fee of 4% of the principal amount charged for each Direct PLUS Loan that parents borrow. The total fee is reduced to 2.5% due to an “up front” interest rebate equal to 1.5% of the principal amount).
To Apply: Complete the Free Application for Federal Student Aid (FAFSA)
Direct PLUS Loans are borrowed through the federal government and must be repaid.
Parent borrowers applying for a Direct PLUS Loan must complete a PLUS Application and sign a Master Promissory Note before loans are disbursed to their child's student account.
