Federal Funding Options
Find out about additional military benefits for veterans, active service members, and military spouses.
|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.|