Title IV Federal Aid Programs
Federal Pell Grant
The Federal Pell Grant is a need-based grant from the federal government available to undergraduate students who have not earned a bachelor's degree. Each student's award amount is determined on the basis of student/family income and cost of attendance. After the Free Application for Federal Student Aid (FAFSA) is filed, the Department of Education sends you a Student Aid Report (SAR) or an Information Acknowledgement if you filed online. These documents will indicate if you are Pell eligible. And vary in amount from $400 to $4050.
Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG is a federal grant administered by the CWC Office of Financial Aid. A limited amount of funding is available to undergraduates with Pell eligibility on a first come, first serve basis and vary in amount from $200 to $800 annually.
Federal College Work-Study Program (FCWS)
The FWS program provides jobs for undergraduate students who need financial aid. FWS gives students a chance to earn money to help pay education expenses. Funding for FWS placements is limited and determined by matching student qualifications with job descriptions and requirements. Placement is, therefore, not guaranteed. Most of the work-study positions are located on-campus enabling the student to set a work schedule around his/her schedule. There are a limited number of positions available within the community with non-profit organizations. Funds are paid out monthly on the basis of hours worked in the pay period not to exceed 19 hours per week. Students awarded FWS funds are assisted by the Student Placement Officer in locating employment on campus or at an approved site in the community. Awards vary in amount from $750 to $3000 earned annually.
Federal Family Educational Loan Programs (FFELP):
The Federal Subsidized Stafford Loan program is a low-cos loan to post-secondary students who cannot afford the cost of education without assistance. The loans are provided by private lenders (banks, savings & loans, credit unions, for example) at a low rate of interest; currently 6.8%. No collateral is required and payments do not begin until six months after the student ceases school attendance on at least a half-time basis. The loan is considered subsidized when the federal governemtn pays the interest to the lender while the student is in school and during the six month grace period, as well as during eligible periods of deferment after the loan enters repayment.
The Federal Unsubsidized Stafford Loan program differs from the Federal Subsidized Stafford Loan in one significant way: the federal government does not pay the interest to the lender throughout the life of the loan. The interest payment may be made by sending the lender a monthly installment, a principal amount of the loan (called capitalizing). In all other respects, the Subsidized and Unsubsidized Federal Stafford Loans are alike. Loan amounts vary based on cost of attendance minus all other aid available to the student up to the annual maximum of Freshman (0 to 29 credit hours earned) $3500; Sophomore (30+ credit hours earned) $4500.
Independent undergraduate students may be eligible to borrow additional Federal Unsubsidized Stafford Loan funds up $4,000 annually based on cost of attendance minus any student aid available to the student.
Dependent undergraduates may not borrow from this program, unless an exception is made due to the student's parent being denied the PLUS loan.
Federal Parent Loan for Undergraduate Students (PLUS) is a federal loan borrowed by the parent on behalf of a dependent student to assist with educational expenses. Parents may borrow up to the cost of attendance, minus any other financial aid the student may receive. The PLUS is a non-need based loan at a fixed interest rate capped at 8.5%. Interest is charged on the loan to the borrower from the date the first disbursement is made until the loan is paid in full. Repayment generally begins within 60 days after the final loan disbursement.
Single Parent/Displaced Homemaker/Nontraditional Careers Grant
The Single Parent/Displaced Homemaker Grant is available to students who meet the following qualifications:
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Single Parent or head of household who is being trained or retrained for the workforce
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Low income (receiving or eligible to receive a PELL Grant)
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Enrolled in an Applied Degree, Vocational Program (list majors)
The qualifications for the Nontraditional Grant are low income and enrolled in a nontraditional program. (list majors)
Definition of Nontraditional careers qualifications:
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Fewer than 25 percent of those in your gender are employed in the workforce
Examples of nontraditional programs:
| Females | Males |
|---|---|
| Welding | Nursing |
| Automotive | |
| Criminal Justice | |
| Computer Networking |
AmeriCorps - You can find more information about this program here .