Resources Grants
Grants, Loans and Work/Study
Selected types of financial aid through the federal government:
Federal Pell Grants
Gifts awarded based on need, to undergraduate students. Maximum per year changes annually; rough maximum amount is around $4000. Note: Need is determined by the results of the Free Application for Federal Student Aid {FAFSA}.
Federal Supplemental Educational Opportunity Grants (FSEOG)
Grants funded by the federal government and administered by schools. Available to students with exceptional financial need, with Pell Grants recipients receiving highest priority. Limit changes annually; rough amount is around $4000 per year. Available to undergraduates only. FSEOG is different from the Pell Grant in that there is no guarantee that every eligible student will receive it.
Perkins Loan
School contributes. Based on need. Interest rate varies according to market (2002 – 2003, rate is 5%); subsidized … meaning all interest is deferred until nine months after you graduate or leave school. Limit changes annually; undergraduate limit is around $4,000 per year, up to around $16,000 total. Limit changes annually; graduate limit is around $5,000 per year, up to $30,000, including the amount borrowed as an undergraduate. May typically be repaid in ten (10) years.
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