Grant Programs

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  What is the difference between a grant and a loan?
  
  A grant does not have to be paid back. It is the best type of aid you can receive. A loan, on the other hand, must be re-paid with interest over a period of years. Loans should be considered only after exhausting other options – and borrow only what you need. It is also important to remember that while grants are a great form of financial assistance, they do require you to fulfill certain responsibilities - such as staying in school and getting good grades. You may need to repay a grant if you reduce enrollment or withdraw from all courses during the semester after receiving a grant disbursement.
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  What is the Lifetime Eligibility Used (LEU) for Pell grants?
  
  What is the Lifetime Eligibility Used (LEU) for Pell grants? The Lifetime Eligibility Used (LEU), is the percentage of Pell grant you have used against the lifetime maximum allowable. If you are eligible for a Pell grant, the maximum you may receive is the equivalent of 6 years – which is 12 full time semesters, or 18 full time quarters. The maximum amount you can receive each year is equivalent to 100%, therefore, the 6 year maximum is 600%. The Department of Education keeps track of how much of your award you use each year, and calculates the percentage against the whole, (or 100%). This percentage is then deducted from the Lifetime Eligibility Used maximum of 600%. For example: If in your first year, you are awarded a $2000 Pell grant for the full academic year, and use it all because you attend full time for the full year, then you will have used 100% of your award. This 100% is then deducted from the maximum lifetime eligibility of 600%, thus leaving you a remaining 500% to use. If however you only used $1000 of the $2000 award because you attended half time for the year and were only eligible for half time Pell, then you would have used 50% of the full 100% award for the academic year, and 50% toward your lifetime eligibility. This would then leave you with 550% to be used over your lifetime. To see how much Pell grant you have used, you may go to the National Student Loan Data System (NSLDS) website: www.nslds.ed.gov You will need your PIN that you used to complete your FAFSA to access your record. In addition to using the NSLDS as a resource, your Financial Aid Office has access to the Common Origination and Disbursement (COD) system which will have a complete picture of your financial aid history.
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  What is a Pell Grant?
  
  What is a Pell Grant? Pell Grants are federally-funded, need-based, grants given to college students to help pay for college. Pell Grants can be awarded up to $5,550 for the 2012/2013 award year, and $5645 for the 2013/2014 award year. If eligible, you may receive a Pell Grant for a maximum of the equivalent of 12 full time semesters, or 18 full time quarters. Pell Grants do not have to be paid back. Fill out the FAFSA to be considered for a Pell Grant. Any Pell Grant-eligible student whose parent or guardian died as a result of military service in Iraq or Afghanistan after September 11th, 2001 will receive the maximum award amount. The student must be under 24 years old or enrolled at least part-time in college at the time of their parent's or guardian's death.
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  What is a FSEOG?
  
  The Federal Supplemental Educational Opportunity Grant is known as the F-S-E-O-G. The FSEOG is grant for Pell-eligible students with the lowest Expected Family Contributions. Funds are limited, so apply early. In order to be considered for an FSEOG, you must first fill out the FAFSA. After you submit your completed FAFSA, the federal processor will calculate your Expected Family Contribution. Also, be aware that every school that participates in the FSEOG program receives a specific amount of funding, and not all schools have the same amount of FSEOG as a resource to assist students.
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