Federal Student Aid

Federal student loans include Stafford Loans, Pell Grants, Perkins Loans,and work-study. You can fill out the FAFSA Student Aid application form to see which loans you qualify for. The link in the LCJS resource box to the right will take you to this form and the directions for filling it out.

Descriptions of Federal Loans and Grant Programs

Title IV Stafford Loans

Title IV Stafford Loans are very popular student loans. Stafford Loans have eligibility requirements. Students must be in attendance continuously as well as maintain continuous enrollment. Academic progress must be maintained, applicants can not be in default on any previous federal loan, and not have reached any aggregate loan limit. There are two types of Stafford Loans, subsidized and unsubsidized. Key points about the subsidized loan are: undergraduate and graduate students are eligible, the federal governement pays interest on the loan while the student is in school. Key points regarding the unsubsidized Stafford loans: Undergraduate as well as graduate students are eligible, government does not pay interest on the loan. For both loan types, students have a 6 month grace period before beginning their repayment and the option to take up to 10 years to pay the loan back.

Federal Pell Grants

Pell grants are offered to undergraduate students without a professional degree or a bachelor's degree. The Federal Pell Grant does not have to be repaid.

National SMART Grants

To be eligible, students must have received a Pell grant, be a US Citizen, have and maintain a 3.0 GPA. This grant is available to third and fourth year students and student must be in an eligible degree program.

Academic Competitiveness Grants

Eligible applicants will have receieved a Pell grant, be a US Citizen and have completed secondary school. These grants are awarded to first and second year students taking classes full-time.

Federal Supplemental Education Opportunity Grant (FSEOG)

Over 4,000 postsecondary institutions are part of this program. Students that have received a Pell grant and are considered to have "exceptional need" are considered priority applicants for these grants. The participating postsecondary institutions are responsible for contributing 25% of the funds. Filling out the FAFSA financial aid application allows students to find out which grants and loans they qualify for. There is a link to the FAFSA application in the LCJS resource box near the top of this page.

Perkins Loans

There are roughly 1,800 postsecondary institutions participating in the Perkins Loan program. This loan provides low interest loans to pay for postsecondary education. Students that qualify as "needy" financially are awarded these loans. This loan program is advantageous for students that will be pursuing certain public, military or educational focused careers, as these students become eligible to have their loan paid off or cancelled. The postsecondary institution must match 25% of the Federal Capital Contribution. Undergraduate, graduate and vocational students are eligible for this loan program. The student will have a nine month grace period after graduation before payback of the loan is required to begin.