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Grants
Grants are a type of financial aid that do not have to be repaid. Generally, grants are for undergraduate students, and grant amount is based on need, cost of attendance, and enrollment status.
Federal Pell Grants for the 2002-2003 school year range from $400 to $4,000.
Federal Supplemental Educational Opportunity Grants (FCEOG) range from $100 to 4,000.
Loans
Loans are borrowed money that must be repaid with interest. Both undergraduate and graduate students may borrow money. Parents may also borrow money to pay educational expenses for dependent undergraduate students. Maximum loan amounts depend on the student’s year in school.
Federal Stafford Loans are made to student, and Federal PLUS Loans are made to parents. There are two loan programs:
- William D. Ford Federal Direct Loan (Direct Loan) Program: eligible students and parents borrow directly from the federal government at participating schools. Direct Loans include Direct Stafford Loans, Direct PLUS Loans, and Direct Consolidation Loans.
- Federal Family Education Loan (FFEL) Program: private lenders provide federally guaranteed funds. FFELs include FFEL Strafford Loans, FFEL PLUS Loans, and FFEL Consolidation Loans.
Federal Perkins Loans are offered by participating schools to provide low-interest loans to students that demonstrate the most need.
Work-Study
Work-Study allows you earn money for education expenses while enrolled in school.
Note: Not all schools participate in all of the Federal Student Aid (FSA) programs. Ask your school’s financial aid administrator which programs are available.
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