The federal government offers grants and loans to help you pay for college.
You must apply to find out if you are eligible. Applying for federal student aid is free;
that’s why the application you complete to apply is called the Free Application for
Federal Student Aid.
The following chart shows the types of grants and loans offered to students in
the S.A.E.L. accelerated programs.
| Federal Student Aid Summary Chart |
| Federal Student Aid Program |
Type of Aid |
Program Details |
Annual Award Limits |
| Federal Pell Grant |
Grant: does not have to be repaid |
Available to undergraduates; all eligible students will receive the Federal Pell Grant amount they qualify for. |
$890 to $4731 for 2008-09 |
| Federal Academic Competitiveness Grant (ACG) |
Grant: does not have to be repaid |
For undergraduates receiving Pell grants who are U.S. citizens enrolled full time in their first or second academic year of study.
For first academic year students who have completed a rigorous secondary school program of study, graduated from high school after Jan. 1, 2006, and have not been previously enrolled in an undergraduate program.
For second academic year students who have completed a rigorous secondary school program of study, graduated from high school after Jan. 1, 2005, and have at least a 3.0 cumulative GPA at the completion of their first year of post secondary study. |
First academic year students: up to $750
Second academic year students: up to $1,300 |
| Subsidized Direct Loan |
Loan: must be repaid |
Subsidized: U.S. Department of Education pays interest while borrower is in school and during grace and deferment periods; you must be at least a half-time student and have financial need. |
$3,500 to $8,500 Depending on grade level |
| Unsubsidized Direct Loan |
Loan: must be repaid |
Unsubsidized: Borrower is responsible for interest during life of the loan; you must be at least a half-time student; financial need is not a requirement. |
$3,500 to $20,500 (less any subsidized amounts received for the same period), depending on grade level and dependency status |
| Direct PLUS Loan |
Loan: must be repaid |
Available to parents of dependent undergraduate students and graduate and professional students enrolled at least half-time. Financial need is not a requirement.
PLUS Loans are unsubsidized: Borrower is responsible for interest during the life of the loan. |
Maximum amount is cost of attendance minus any other financial aid the student receives; no minimum award amount |
| Graduate PLUS Loan |
Loan: must be repaid |
Available to graduate students enrolled at least half-time. Financial need is not a requirement.
PLUS Loans are unsubsidized: Borrower is responsible for interest during the life of the loan. |
Maximum amount is cost of attendance minus any other financial aid the student receives; no minimum award amount |
