Types of Financial Aid
Undergraduate Aid | Graduate Aid
Federal Aid
Any student who wishes to apply for federal programs must be either a U.S. citizen, permanent resident, or an eligible noncitizen.
Federal Stafford Loan
A long-term, low-interest loan, the Federal Stafford Loan provides students with additional funds for school. The loan comes in two forms:
Subsidized: The government pays the interest while the student attends school and during the grace period. The Subsidized Stafford is a need-based loan as determined by the FAFSA.
Unsubsidized: The student pays the interest on this loan. However, the interest may be capitalized and paid with the principle at repayment. The Unsubsidized Stafford is a non-need based loan as determined by the FAFSA.
The variable Federal Stafford Loan interest rate caps at 8.25 percent.
Repayment on the Federal Stafford Loan begins six months after the student graduates, completes the program, or drops below half time. All students applying for the Federal Stafford Loan must be admitted to a degree- or credential-seeking program and complete the FAFSA. All students receiving a Federal Stafford Loan must complete a loan entrance before receiving loans and a loan exit upon dropping below half time, graduating, or exiting school.
Loan Limits:
- Teaching and Advanced Credentials, $10,500 annually up to aggregate
- Master’s and Doctoral, $20,500 annually up to aggregate
Alternative Loans
Students who wish to apply for alternative loans must complete a separate application, have costs greater than school budget, and be approved by the lending agency. Alternative loans must pay tuition in full before any refund will be given. Alternative loans are those monies received through any agencies or process other than the FAFSA.
