| Type
Program |
Program
Information |
Annual
Award Limits |
Requirements |
| Work-Study Programs
more
information
|
Student will work
a set number of hours for the school or approved public-service
related company.
Money is earned: does not have to be repaid. Graduates
paid on a hourly basis or by salary. |
No annual maximum
|
Student must file
the FAFSA form.
see FAFSA links
School disburses earned funds to students. |
| Federal Perkins
Loans
more
information
|
Loan: must be repaid.
These are low-interest rate loans (5%) available to
students with exceptional financial need.
The loan does not charge origination fees.
|
$6,000 for graduate students |
Student must file
the FAFSA form.
see FAFSA links
Your school becomes the lender using funds shared by
the federal government.
You must repay this loan to your school. |
| State Agencies
link
to your individual state for information
|
Individual states
offer financial aid programs for state residents and
in some cases out-of-state residents attending in-state
schools.
Financial aid may include grants, scholarships, financial
aid assistance, and some loan programs. |
Financial assistance
may vary by state. |
Financial aid qualifications
can vary by individual state.
|
Federal Stafford
Loans
see Stafford Loans
apply
now
or dial
1-800-320-1830
|
Unsubsidized Federal
Stafford Loans:
- interest on the loan is to be paid by the student
after loan funds are disbursed.
Loan funds will be sent to the school and disbursed
in at least two installments.
The funds will first be applied to pay tuition, fees,
room and board, and other school charges. Any remaining
funds must be used for paying education-related expenses. |
graduates:
up to $18,500, for each academic year
see loan chart |
Student must file
the FAFSA form.
see FAFSA links
Loan restricted to education-related expenses only.
Student must be enrolled at least half-time in a degree
or certificate program at an approved school.
Direct Stafford Loans: The federal government provides
funds to schools; FFEL Stafford Loans: private lenders
provide funds to schools to disburse to students |
Private Student
Loans
see Private Loans
apply
now
or dial
1-866-230-4578
|
Private student loans
are used to make up the difference between total cost
of school and any financial aid received.
These loans are not guaranteed by the government so
the interest rate and origination costs may be higher.
Loan amounts are not tied to any federal or college
limits — you can borrow as much as you need up
to the approved loan limit.
Funds can be used for any education-related expenses,
including a new personal computer for school use. |
$1,500 to $30,000; the
five-year maximum is $130,000 |
You must have a satisfactory
credit history.
Learn
about building your credit history at this recommended
Credit Management site
You must meet the credit guidelines for employment
and residency.
If you can't meet these guidelines, you may request
your parent or another to co-sign for the loan.
Graduate and professional students must be enrolled
at least half-time in a degree or certificate program
at an approved school.
Less than half-time attendance are considered under
the continuing education program.
Funds disbursed directly to the student. |
Home Equity
Financing
see home equity
apply
now
|
Private loan program
where the lender opens a credit line on your behalf
(or your parent), which credit line is secured by the
equity value of your or your parent's home.
You will use equity line checks or online transfer
capabilities to pay for education or other expenses.
The line of credit can be used at any time and for
any expense up to your approved credit line balance. |
No annual limit restrictions.
Your amount is subject to your approved equity line
balance. |
You must have equity
value in your home.
Calculate
your equity value
You must meet the lenders credit criteria and credit
check.
There is no limitation or restrictions on the use of
the funds. |
Alternative
Financing Options
see Alternative Aid |
State529
Plans
Qualified investment plans that can be used to pay
education expenses. Contributions are after-tax, but
earnings in the fund are tax exempt.
Funds are available to any named beneficiary. The beneficiary
can be the contributor.
Two types of plans:
(view
this State529 Center)
- Prepaid College Tuition Plans
- College Savings Plan
Education IRAs
IRA plans that can be setup for education. Contributions
are after-tax, but earnings in the fund are tax exempt.
The IRA can be used to pay for higher education and
K-12 education expenses. |
Limitations subject to
the available amount in the plan. |
Plan must be setup
in the name of the beneficiary.
Withdrawals are tax-exempt if the funds are used to
pay for education-related expenses.
Penalties may apply for payment of non-education expenses.
view
plans |
IRA Plans
More information from the IRS:
http://www.irs.gov |
You can make withdrawals
from your IRAs for qualified higher education expenses
without having to pay the 10% penalty tax. |
Limitations subject to
the available amount in the plan. |
You will owe income tax
on at the amount withdrawn from the plan. |
Scholarships
see scholarship info
sample report: click |
Scholarships
are available from many private and educational institutions.
This type of financial aid does not have to be paid
back.
The more common form of scholarships are athletic
and academic. However, there are a number of scholarships
awarded for other achievements.
|
Limits subject to scholarship
award and program. |
Scholarships may
require an essay, written exam, or some demonstration
/document of your eligibility.
get
some help
Most scholarships (including athletic) will require
a minimum GPA.
Scholarship funds will be sent to the college directly
on your behalf. |
Other Financial
Aid |
See our Financial Aid
Note:
types
of financial aid available
|
|
|
