To qualify for a Federal Pell Grant, a student must be a U.S. citizen or a permanent resident, have need as defined by the Federal Pell Grant, not have received a bachelor degree and be enrolled as a regular student on at least a half-time basis in an eligible program of study. The money received is an entitlement and does not have to be repaid. A Stafford is a low-interest loan made to the student by a lender such as a bank, credit union or savings and loan association, to help pay educational expenses after high school. The application may be obtained from the Financial Aid Office or from the lender. Pell eligibility must first be determined before a student may apply for a student loan.
PLUS loans are for parent borrowers.
PLUS loans provide additional funds for education expenses. The interest rate is higher than that for the Stafford Loan. PLUS borrowers must begin repaying interest within sixty days after the loan is disbursed unless the lender agrees to let the interest accumulate until the deferment ends. An application may be obtained in the Financial Aid Office or from the lender. Federal Work Study Federal Work Study consists of part-time campus employment given to students with demonstrated financial need.