| || |
Students must apply for Federal Student Aid by completing a FAFSA (Free Application For Federal Student Aid). Central Wyoming College uses the information provided by you on your completed FAFSA to award Federal Financial Aid. The FAFSA is FREE for all students, beware of sites on the internet that offer to submit your forms for a fee.
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 will send the school notification a student has been processed. Pell awards vary from $400 to $5550.
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 served basis and vary in amount from $200 to $800 annually.
Federal College Work-Study Program (FCWS)
The FCWS program provides jobs for students who are eligible for the federally funded program. FCWS gives students an opportunity to earn money to help pay educational expenses. Funding for FCWS placement 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 FCWS funds are assisted by the Human Resources Office in locating employment on campus or at an approved site in the community. Awards vary in amount from $750 to $3000 annually.
Federal Direct Educational Loan Programs:
The Direct Subsidized Student Loan Program is a low-cost loan to students who cannot afford the cost of education without assistance. The loans are provided by the U.S. Department of Education at a low rate of interest; currently 3.4 percent. 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 government 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. 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) $3,500; Sophomore (30 credit hours earned) $4,500.
The Direct Unsubsidized Student Loan Program differs from the Direct Subsidized Student Loan in one significant way: the federal government does not pay the interest to the U.S. Department of Education throughout the life of the loan. The student may, but is not obligated to, make interest payments to the U.S. Department of Education; interest is 6.8 percent. In all other respects, the Subsidized and Unsubsidized Federal Direct Loans are alike. Loan amounts vary based on cost of attendance minus all other aid available to the student.
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:
The qualifications for the Nontraditional Grant are low income and enrolled in a nontraditional program. (list majors)
Definition of Nontraditional careers qualifications:
Fewer than 25 percent of those in your gender are employed in the workforce
Examples of nontraditional programs: