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Student Aid Programs and Financing Options (continued)
FEDERAL
PROGRAMS
To be eligible for a Federal Pell Grant, Federal Supplemental
Educational Opportunity Grant, Federal Work-Study, or Federal
Perkins Loan, the student must:
study at least half-time in an approved
program;
meet the educational institution's
satisfactory academic progress standards (see Standards
for Continuation);
be a United States citizen or meet
a citizenship requirement;
have no debt from a defaulted education
loan for which a satisfactory repayment plan has not been
established;
not owe a refund on a Federal Pell
Grant or Federal Supplemental Educational Opportunity Grant;
and
demonstrate compliance with applicable
Selective Service requirements.
Campus-based aid: Federal Supplemental Educational Opportunity
Grants, Federal Work-Study, and Federal Perkins Loans are administered
by the school or college. The funds are allocated by the financial
aid office.
Less than half-time study: Under some circumstances, a student
studying less than half-time can receive aid from the Federal
Pell Grant.
Grants
Federal
Pell Grant
A student can receive up to $4,050 per year for tuition and
other educational costs, such as room and board. Awards depend
on college costs and an aid-eligibility index. This index is
based on factors such as family income and assets, family size,
and number of postsecondary students in the family.
The student must submit a Federal Pell Grant application by
July 1 in each academic year using the Free Application for
Federal Student Aid (FAFSA).
Federal
Supplemental Educational Opportunity Grant (SEOG)
An undergraduate student with financial need can get from $200
to $4,000 yearly. Priority is given to exceptionally needy students
who are Federal Pell Grant recipients.
Federal
Perkins Loan
These loans are for undergraduate students enrolled at least
half-time. The loan amount is determined by the college, within
federal limits of up to $4,000 per year for a total of no more
than $20,000 for undergraduate study. There is no interest charged
during school and for six months afterward or during military
service. During repayment, interest is 5 percent on the unpaid
balance. Repayment of the amount borrowed plus interest begins
six months after the student is no longer at least half-time
in college. Deferment or cancellation is available to students
who enter specified types of service.
Federal
Work-Study Program
This program provides jobs for undergraduate students enrolled
at least half time. Earnings must be used solely for educational
purposes.
Veterans
Administration Educational Benefits
This program is for veterans who were in the United States armed
forces between 1955 and 1977. There is also aid for children,
spouses, and survivors of veterans who suffered a service-connected
death or disability.
GI
Bill
Enlistees must contribute $100 a month for the first year enlisted.
The government will then contribute up to $9,600 based on length
of service. The Army Reserve offers a noncontributory program
that provides up to $5,040 for an enlisted student.
Federal
Aid to Native Americans
This program is for American Indian, Eskimo, or Aleut tribes,
bands, or groups recognized by the Bureau of Indian Affairs.
Application may be obtained from:
Bureau of Indian Affairs
Federal Building, Room 523
100 S. Clinton Street
Syracuse, NY 13260-0043
