Federal Aid

Grants and loans may be awarded if you are determined to have financial need based on the Free Application for Federal Student Aid (FAFSA). The application can be completed by going to the following website: www.fafsa.gov.

Federal Pell Grant Program

  • Type of Award: The pell grant is considered a need-based aid that students must qualify for. Eligibility is determined by the Department of Education in order to receive aid. This Grant is generally awarded to only undergraduate students and is not repaid by the student.
  • Amount per Academic Year (2018-19): $650.00 – $6,095.00
  • Application: FAFSA

The William D. Ford Federal Direct Loan Program

This program allows students to borrow loans from the Department of Education with no credit history needed. These loans are repayable with interest after the student graduates. Students must be enrolled a minimum of half-time to be eligible for the loans. It is mandatory that an Entrance Counseling Agreement and a Master Promissory Note be completed and signed before direct loans are awarded.

Type of Awards

  • Direct Loans
    • Direct Subsidized Loan: For undergraduate students who have financial need; the U.S. Department of Education generally pays interest while student is in school and during certain other periods; student must be at least half-time. The loan is long-term with a fixed interest rate of 4.45% for the life of the loan. Borrowers may not receive this type for loan for more than 150 percent of the length of their program of study; the U.S. Department of Education may stop paying interest if a student who received Direct Subsidized Loans for the maximum period continues enrollment.
      • Eligible Award per Academic Year:
        • 1st Year – $3,500.00
        • 2nd Year – $4,500.00
        • 3rd Year – $5,500.00
    • Direct Unsubsidized Loan: For undergraduate and graduate or professional students; borrower is responsible for all interests; student must be at least half-time; financial need is not required. This loan is long-term with a fixed interest rate of 4.45% for the life of the loan.
      • Eligible Award per Academic Year:
        • 1st and 2nd Year – $6,000.00 (Independent)
        • 3rd Year – $7,000.00 (Independent)
        • 1st, 2nd, and 3rd Year – $2,000.00 (Dependent)
    • Direct PLUS Loans: For parents of dependent undergraduate students and for graduate or professional students; borrower is responsible for all interest; student must be enrolled at least half-time; financial need is not required. The PLUS loan has a fixed interest rate of 7.00% for the life of the loan. Repayment of the loan begins after the loan has been fully disbursed. To apply for this loan, the parent may go to www.studentloans.gov to complete the Direct Plus Loan Application and Master Promissory Note.
      • Eligible Award per Academic Year:  Based upon the college’s cost of attendance.
  • Additional Applications for Direct Loans:
    • Master Promissory Note and Entrance Counseling Agreement: These informational applications explain the terms and conditions of borrowing the loan. The MPN is a legal binding agreement to repay your loans to the Department of Education. These applications can be electronically completed and signed at www.studentloans.gov.