| Subsidized Stafford
Loan |
| Subsidized
loans have their interest paid by the federal government while a student
is in school at least half-time and for a six-month period after graduation.
Eligible students (based on FAFSA) can borrow up to $2625 in their
freshman year, $3500 in their sophomore year, and $5500 in their junior
and senior years to a maximum of $23,000. |
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| Unsubsidized Stafford
Loan |
| If a student still requires
additional aid after receiving all other forms of aid, or does not
qualify for any aid, a student may seek financial help from this low
interest, non-need-based program. With this unsubsidized loan, interest
begins to accrue as soon as the loan is disbursed. Amounts offered
under this program exceed those offered under the subsidized loan
program and can not exceed $46,000. |
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| Perkins Loan (Formerly
called National Direct Student Loan) |
| This federal loan program,
administered by the individual colleges, provides low interest educational
loans for qualified students who are enrolled at least half-time.
Students can borrow up to $3000 per year up to a maximum of $15,000. |
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| Pell Grants |
| These need-based federal
grants are awarded to eligible full and part-time undergraduate students.
The amounts range from $400 to $2340 per year. |
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| Supplemental Educational
Opportunity Grant Program (SEOG) |
| These federal grants
which range from $100 up to $4000 yearly are offered to students with
exceptional need with priority given to Pell Grant recipients. |
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| College Work-Study
Program |
| College work-study provides
federally subsidized jobs on campus and in the community. Employment
offers included in financial aid packages range up to $1400 for about
10-15 hours of work per week. Students are paid minimum wage |
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| Massachusetts
State Scholarship |
| Eligible students can
receive from $200 to $3800 in grants from the state. |
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| PLUS Loan (Parent
Loan for Undergraduate Students) |
| Through a local bank,
parents may borrow up to the full cost of an education minus any financial
aid received. Interest is one-year T-bill rate plus 3.1% adjusted
yearly, not to exceed 9%. Repayment begins 60 days after loan disbursement.
Many colleges and universities have their own loan programs and/or
tuition plans. For information contact their financial aid offices.
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to Guidance Home Page |
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