|
|
What is it? |
Who is eligible? |
Does it have to be paid back? |
|
Federal
Pell Grant |
Grant
assistance for students who have not earned a bachelor's
degree. Annual awards may range up to $5,350 (09 / 10
Academic Year). |
Students
who show need for assistance whether or not they meet the
priority April 1 deadline date. |
No This
is gift aid and does not have to be repaid. |
|
Federal
Supplemental Educational Opportunity Grant (FSEOG)* |
Grant
assistance for undergraduate students, with priority given
to Pell Grant recipients. Annual awards may range from $200
to $600. |
Students
who file FASFA, show a high need for assistance, and qualify
for a Federal Pell Grant. |
No. This
is gift aid and does not have to be repaid. |
|
Iowa
Grant* & Iowa Vocational-Technical Grant* |
Grant
assistance available to Iowa residents only. Iowa Grant is
$400 for a full academic year. Iowa Vocational-Technical
Tuition Grant can range from $600 to $1,200 for a full
academic year. |
Students
who show financial need and meet the July 1 deadline date. |
No. This
is gift aid and does not have to be repaid |
|
Scholarships* |
Assistance offered by public and private agencies,
organizations, colleges and universities. Recipients are
often selected based upon their scholastic aptitude. Minimum
or maximum awards vary. |
Continuing and new students who are planning to be at least
a half-time student. Criteria explained on each application.
|
No. This
is gift aid and in some cases, can be renewed if certain
conditions have been met. Most Iowa Lakes Foundation scholarship
applications are due April 1. |
|
Federal College Work-Study*
|
Part-time employment during the academic year. Jobs are
located on- or off-campus. Wages are $7.50 per hour.
|
Students
who show need for assistance.
Contact
the Financial Aid office at Ext. 7920 on the Estherville
Campus. |
No.
Students earn their award by working approximately 5-20
hours per week. |
|
Federal
Direct Loan Program |
A
subsidized and/or unsubsidized loan with a variable interest
rate that is lower than commercial rates. Annual limits
range from $5,500 for dependent students and $6,500 for
independent students |
FEDERAL
SUBSIDIZED:
Students who show need for assistance and are enrolled at
least half-time. |
Yes.
Repayment of principal and interest will begin 6 months
after termination of studies or after student drops below
1/2 time. |
FEDERAL
UNSUBSIDIZED:
Students enrolled at least half-time.
ADDITIONAL UNSUBSIDIZED:
Independent students enrolled at least half-time up to
$4,000. |
Yes.
Interest is charged from the time student receives their
loan until paid in full. Repayment begins six months after
termination of studies or after student drops below 1/2
time. |
|
Alternative Loans |
Loans
made available without regard to need for assistance.
Borrowers have the option to pay at least the interest on
the loan while the student is in school. Interest
capitalizes from the point of loan disbursement until loan
repayment begins. |
PLUS:
Parents with good credit. |
Yes.
Repayment begins immediately. |
|
See
Federal MPN links for access to Alternative Loans available
with the Lender Listed. Or go to
www.iowacollegeaid.org
|
Yes.
Repayment options available through lender. |
