As with any employment, a student must earn work-study funds and is paid in the form of a weekly paycheck, according to how many hours have been worked. For students with need, the loan is Subsidized, and no interest accrues until six months after the student graduates or withdraws from school. Students who do not demonstrate need qualify for an Unsubsidized loan, and interest begins accruing while the student is in school. Repayment begins six months after the student leaves school. Paying the Balance While we make every effort to assist families in paying for an Assumption education, it is not possible for Financial Aid to completely cover the costs.
Several options exist to aid families in financing the balance.
Contact the scholarship agency in your home state for deadline and application information. Outside Scholarships Many scholarships are available through sources such as religious and civic organizations, your parent's employer, and local businesses. Ask your guidance counselor for help researching such sources, and check out scholarship books at local libraries. Parents can borrow up to the Cost of Attendance minus other Financial Aid received. The loan is subject to credit approval, and repayment begins while the student is in school.