Federal Financial Aid
Eligibility for these programs is determined by various governmental agencies based upon completing the FAFSA (Free Application for Federal Student Aid) and other required applications.
Federal Pell Grant
This federal grant is designed to provide financial assistance to students with financial need. The amount of the award is determined by the federal government on the basis of the student's Expected Family Contribution (EFC), as indicated on the Student Aid Report (SAR). Awards for the 2012-2013 funding year (July 1, 2012 to June 30, 2013) range from $555 to a maximum of $5,550 per year.
Federal SEOG (Supplemental Education Opportunity Grant)
This grant is available to students who demonstrate exceptional financial need. Grants will be given to students with the greatest financial need (as determined by a student’s EFC) first, and then to others as funds are available.
Subsidized Direct Stafford Loan
This is a need based loan, guaranteed by the federal government. The federal government pays the interest as long as the student is actively enrolled for at least 6 credit hours. Loan funds will be returned to the lender when the loan money arrives if the student has dropped below halftime (6 credit hours). Once the student graduates or ceases to be enrolled at least 6 credit hours, he/she has a 6-month grace period before repayment begins and interest starts to accrue.
Unsubsidized Direct Stafford Loan
This is a non-need based loan, guaranteed by the federal government. The government does not subsidize this loan, and the interest on this loan will accrue immediately. Principal payments may be deferred until 6 months after graduation or student drops below 6 credit hours. This loan provides additional funds to independent students who need additional money to meet their educational expenses or dependent students whose parents do not quality for a PLUS loan.
Parent Loan for Undergraduate Students (PLUS)
Eligibility is restricted to parents borrowing for dependent students enrolled at least half time (6 credit hours). Approval for the PLUS loan is determined by the parent's credit worthiness as determined by the Federal government. Repayment begins 30 days after the loan is disbursed. Information is available at http://www.direct.ed.gov/parent.html
Student Employment Programs
Employment programs allow students to work and earn funds to help pay for their education and educational expenses. Students who qualify must be hired for qualifying employment at the college in order to receive work-study funds. Work Study funds will be paid to the student on an as-earned basis. Federally mandated forms are required to be on file before any work may begin. Pillar requires a new work contract each academic year. For more information about Federal Financial Aid check out the current guide online at: https://studentaid.ed.gov/students/publications/student_guide/index.html
Veterans Affairs Education Benefits
Department of Veterans Affairs offers education benefits to veterans and their dependents. More information is available at www.gibill.va.gov