• The Federal government offers the following programs to help pay for college:
    • Pell Grant
    • Supplemental Educational Opportunity Grant (SEOG)
    • TEACH Grant
    • College Work Study
    • Perkins Loan
    • Direct Stafford Loan Programs
    • Direct Parent PLUS Loan
    Federal Pell Grant:
    • Must file FAFSA (Free Application for Federal Student Aid)
    • Based on Need
    • Up to $5,500 (proposed for 2011-2012)
    • Award based on enrollment status, FT, PT or Less than half-time
    Supplemental Educational Opportunity Grant (SEOG):
    •  Up to $4,000 a year (Depending on school)
    • Must file FAFSA
    • Based on need
    • Limited funds
    TEACH Grant:
    • Teacher Education Assistance for College and Higher Education (TEACH) Grant Program 
    • Maximum Award:
      • Up to $4,000 per year.
    • Eligibility Criteria:
      • enrolled in an eligible program, and
      • agree to teach
        • in a critical subject,
        • in a critical geographical area,
        • for at least four years within eight years of completing the program for which the TEACH Grant was awarded.
    • Failure to teach requires repayment under terms of an unsubsidized Direct Loan.
    • How to apply:
      • Check with the financial aid office at your institution for availability and application procedures
      • May not show on award letter unless you ask
    Federal College Work Study:
    • Must file FAFSA
    • Based on need
    • Limited funds
    • Students work up to 20 hrs/week- earn a paycheck.
    • Usually on campus
      Federal Perkins Loan:
      • Federal Loan Program
      • 5% Interest
      • Subsidized – No interest accrues while in school
      • Administered by the College
      • Need-based loan
      • Funds are limited
      • Forgiveness for Teaching and Health Related Professions
      Federal Direct Stafford Loan:
       Loan made to the student:
       Loan Limits are based on grade level:  Freshman is $5500 combined between Subsidized and Unsubsidized

      Subsidized Loan

      • Must file FAFSA
      • Need-Based Loan
      • Interest paid by government while in school
      • 6 month grace period prior to repayment
      • Interest rate: 3.4%  fixed
      • Fees: .5%
      Unsubsidized Loan
      • Must file FAFSA
      • Not need-based
      • Interest NOT paid but deferred while in school
      • 6 month grace period prior to repayment
      • Interest rate: 6.8% fixed
      • Fees: .5%


      • Forgiveness for Teachers
        • Five years of teaching service at a low income school anywhere in United States
          • $5,000 in forgiveness
          • Math, Science and Special Education teachers - $17,500 in forgiveness
      • Public Service
        • 120 on time payments, remaining balance is forgiven
      • To Apply
        • Your school will provide instructions in the award letter.
        • www.studentloans.gov
       Federal Direct Parent PLUS Loan:
      Loan made to parent of an undergraduate student
      • Approval based on creditworthiness
      • FAFSA normally not required (some schools may require)
      • Loan limits based on ability to pay, can not exceed ‘cost of attendance’
      • Payments begin 60 days after final disbursement of the loan or 6 months after the student exits school
      • Interest rate:  7.9% fixed, unsubsidized
      • Fees: 2.5 - 4%
      • Your school will provide instructions on how to apply in the award letter