Federal Student Aid Programs
Federal student aid is financial assistance that’s available through the U.S. Department of Education’s Office of Federal Student Aid. Federal student aid covers school expenses such as tuition and fees, room and board, books and supplies, and transportation. The Free Application for Federal Aid (FAFSA) should be submitted online at www.fafsa.ed.gov as soon as possible after January each year, prior to your anticipated date of college enrollment. Types of federal aids are below. For helpful FAFSA hints and tips, click here.
Federal Pell Grants are available to undergraduate students. Grants do not have to be repaid. Eligibility is determined by the Expected Family Contribution as calculated by the Department. of Education, using information provided on the Free Application for Federal Student Aid (FAFSA). Funds from this award will be divided equally between Fall and Spring semesters and will be credited to the student's account accordingly.
Federal Stafford Loans are student loans that must be repaid and are available to both undergraduate and graduate students. Stafford Loans are low-interest loans. Payment is deferred until six months after the student ceases to be enrolled at least half time. Freshmen may be eligible to borrow up to $3,500, sophomores up to $4,500, and juniors and seniors up to $5,500. An additional $2000 may be available upon request after eligibility is confirmed.
Federal PLUS Loans are available to parents of dependent undergraduate students who are enrolled at least half-time. The PLUS Loan is also available to graduate and professional degree students. Financial need is not a requirement. Borrowers can request a loan for up to the full cost of attendance minus any other financial aid. This loan enters repayment 45-60 days full disbursement. Some PLUS loans qualify for deferment of payments while the student is enrolled at least half-time.
Federal Supplemental Educational Opportunity Grants (SEOG) are grants available for undergraduates with exceptional financial need. Awards range from $100-$4,000. This federal grant is awarded based on the Expected Family Contribution and the availability of funds. Your FAFSA application determines eligibility. Funding is limited and priority is given to Pell Grant recipients.
Federal Work-Study provides part-time employment opportunities for eligible students, allowing them to earn money to pay educational expenses. Students usually work 10 to 20 hours per week and receive a paycheck biweekly. The paycheck is made out to the student and the student chooses how to use the money. Eligibility for this program is determined by the Berry Office of Financial Aid and is based on demonstrated need and the availability of funds.
Federal Perkins Loans are low-interest (5 percent) loans that must be repaid; the maximum annual loan amount is $4,000 for undergraduate students. It is awarded based on the Expected Family Contribution and the availability of funds. Funding is limited and priority is given to Pell Grant recipients.