As you prepare for college, you’ll want to investigate all the options you have for financial aid. Most students qualify for some type of aid. We’ll walk you through what kind of funding is available and help you figure out what you may be eligible to receive. Scholarships, grants, and loans are just some of the financial aid options available if you qualify.
The U.S. Department of Education awards about $150 billion in grants, loans, and work-study funds to students every year.² In a recent year, 57% of students received such aid, according to data from that department. You’re not alone in your need for financial aid, and there are many places to find it beyond the federal government.
If you’re not sure how to start finding the aid you need for your degree, call us at 800-622-2640 to talk to a financial planner. We’ll help you identify all your sources of potential funding and come up with a plan to apply.
|Student Aid Program||Type of Aid||Program Details||Annual Max Award Limits|
|Federal Pell Grant||Grant: does not have to be repaid.||Available almost exclusively to undergraduates; all eligible students will receive the Federal Pell Grant amounts they qualify for.||$5,815 (2010/2011 school year). Subject to change every July 1st.|
|Federal Supplemental |
|Grant: does not have to be repaid.||For undergraduates with exceptional financial need; priority is given to Federal Pell Grant recipients; funds depend on availability at school.||Amounts vary depending on school's allocation.|
|Federal Work Study ||Money is earned while attending school; does not have to be repaid.||For undergraduates with exceptional financial need; priority is given to Federal Pell Grant recipients; funds depend on availability at school.||No annual maximum.|
|Federal Perkins Loan ||Loan: must be repaid.||Five percent loans for both undergraduate and graduate students; payment is owed to the school that made the loan.||$5,500 for undergraduate students; |
$8,000 for graduate students.
|Direct Subsidized Loan||Loan: must be repaid.||Direct Subsidized: U.S. Department of Education pays interest while borrower is in school and during grace and deferment periods.||$3,500 to $8,500, depending on grade level.|
|Direct Unsubsidized Loan||Loan: must be repaid.||Direct Unsubsidized: Borrower is responsible for interest during life of the loan.||$4,000 to $18,500, depending on grade level (If you do not qualify for Direct Subsidized loan).|
|Federal PLUS Loan ||Loan: must be repaid.||Available to parents of dependent undergraduate students.||Cost of attendance minus any other financial aid the student receives.|
Stevens-Henager College admits students of any race, color, and national or ethnic origin.