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There are three types of financial aid: 1) grants which do not need to be repaid 2) work-study, which provides an opportunity for part-time employment and 3) loans, which will need to be repaid.
Federal Pell Grant
A Pell Grant is a federally funded program for students enrolled in a program of study leading to a degree or certificate of at least six months in length. The Pell Grant is based upon the analysis of the financial data of the parents and/or the student. Awards are based on need.
Pennsylvania State Grant Program
The PA State Grant is a need-based award administered by PHEAA- Pennsylvania Higher Education Assistance Agency. Students must complete the current year FAFSA and the PA State Grant application for consideration of the award. A student must be a Pennsylvania resident for at least 1 year prior to their application submission and be enrolled at least half-time (6 or more credits each semester) in a two-year academic program.
Federal Supplemental Educational Opportunity Grant (SEOG)
The SEOG Grant is for students with exceptional need enrolled at least halftime. Any student wishing to be considered for this grant must file the Free Application for Federal Student Aid.
Federal Work-Study Program
Federal Work Study (FWS) - is a federally funded work program which provides part-time employment to students with financial need. Eligible students are able to work and earn money to help pay education expenses. Students must complete the FAFSA, be enrolled at least half-time (6 or more credits per semester), have an unmet need, and have Satisfactory Academic Progress to qualify.
Federal Direct Loan Program
Students must carry at least six (6) credits per semester to be eligible for the loan. If the student qualifies for a need-based Federal Direct Loan (Subsidized), no payments are made while the student continues at half-time status. If the student qualifies for a non-need-based Federal Direct Loan (Unsubsidized), the student is responsible for making interest payments on the loan during in-school, grace, and deferment periods. Repayment of principal and interest for both types of loans (Subsidized and Unsubsidized) begins six months after a student ceases at least half-time attendance. Students can borrow up to $5,500.00 at Grade Level 1 and up to $6,500.00 at Grade Level 2. Students have ten years to pay off the loan with a minimum payment of $50/month at a fixed interest rate - 5.50%
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