Award Students are notified in writing of their financial aid eligibility approximately 8-12 weeks after all application materials have been received in the Office of Financial Aid. Awards are defined by a strict need-based formula provided by the federal government, and award amounts vary depending upon amount of financial need and enrollment status. Students are eligible for Federal Pell Grant consideration if they have not received their first baccalaureate degree by June 1 of the award year. The subsidized Federal Stafford Loan program requires that students show financial need in order to qualify. The unsubsidized Federal Stafford Loan program does not require the student to document financial need.
Eligibility is calculated as the cost of attendance minus other financial aid awarded.
Interest is not paid by the federal government for the unsubsidized program, and the student may elect to pay the interest currently or to allow the interest to be added to the total loan amount. The PLUS program is unsubsidized, and interest payments become the responsibility of the borrower at the time of disbursement. This is a need-based grant program for students who have not yet obtained a baccalaureate degree. A need-based grant for resident undergraduate students. A need-based grant for resident undergraduates who have not yet obtained a bachelor's degree.