Students interested in receiving financial aid must file the Free Application for Federal Student Aid (FAFSA). The Department of Education will compute an Expected Family Contribution (EFC) which we use to determine your Federal eligibility. It is our policy to administer aid one semester at a time for all students attending on a part-time status.
Federal Financial Aid Programs
All federal financial aid programs require that students be enrolled in programs leading to a degree, certificate or some other educational credential in order to be considered for assistance.
Federal Pell Grant
A Pell Grant is a need-based award that does not have to be repaid. These grants currently range from $598 - $4,234 per academic year. Students with the greatest need are awarded these grants.
William D. Ford Direct Loan Program
Direct loans are guaranteed, low interest loans for students. The lender is the Department of Education.
There are two types of Direct Loans: subsidized and unsubsidized. A Direct subsidized loan is need-based. No interest is charged while the student is enrolled at least half-time. The interest rate for 2013-2014 is 6.8%. A Direct unsubsidized loan is not based on financial need and interest is charged during the enrollment period. The interest rate is fixed at 6.8%.
Undergraduate Annual Loan Limits for Direct Subsidized and Unsubsidized Loans:
|First Year (freshman)||$5,500 (maximum $3,500 subsidized)||$9,500 (maximum $3,500 subsidized)|
|Second Year (sophomore)||$6,500 (maximum $4,500 subsidized)||$10,500 (maximum $4,500 subsidized)|
|Third Year (junior and beyond)||$7,500 (maximum $5,500 subsidized)||$12,500 (maximum $5,500 subsidized)|
Aggregate Loan Limits:
|Undergraduate||$31,000 (maximum $23,000 subsidized)||$57,500 (maximum $23,000 subsidized)|
You can complete the Direct Loan paperwork here:
If you are a veteran, reservist or active member of the U.S. Armed Forces, contact your local veterans office or speak with your education services officer about military educational assistance benefits. The veteran certifying official is the Director of Financial Aid.