Federal
Student Aid Summary of Programs
Federal Pell
Grant - Does not have to be paid back.
Available almost exclusively to undergraduates. Annual award limits
for 2006-2007: $400 - $4050.
Federal
Supplemental Educational Opportunity Grant - Does not have to be paid back. For undergraduates with
exceptional financial need; priority is given to Federal Pell Grant
recipients. Annual award limits for 2006-2007: $100 -
$4000.
Federal
Work-Study - Money is earned while attending
school. For undergraduate and graduate students. Jobs can be on or
off campus.
Federal Perkins
Loan - Loan must be paid back. Interest is
charged at 5% for both undergraduate and graduate students. Annual
limits for 2006-2007: $4000 maximum for undergraduate students and
$6000 maxium for graduate students.
Subsidized
Direct or FFEL Stafford Loan - Loan must be
paid back. U.S. Department of Education pays interest while
borrower is in school. Annual limits for 2006-2007: $2625 -
$8500.
Unsubsidized
Direct or FFEL Stafford Loan - Loan must be
paid back. Borrower is responsible for interest during the life of
the loan. Annual limits for 2006-2007: $2625 - $18,500.
Direct or FFEL
PLUS Loan - Loan must be paid back. Available
to parents of dependent undergraduate students who are enrolled at
least half-time.
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