| PROGRAM |
DESCRIPTION |
AMOUNT
PER YEAR |
APPLICATION |
| GIFT
AID |
| Federal
Pell Grant |
Grant
based on financial need student receives
notification of eligibility with receipt
of Student Aid Report(SAR) which must
be submitted to the school for determination
of amount based on cost and credits.
|
$400
- $4050 |
FAFSA |
| MN
State Grant |
Grant
based on financial need. Must
be undergraduate student and a
MN. Resident. |
$100
- $7662 |
FAFSA
and School Financial Form |
| Federal
Supplemental Education Opportunity
Grant (SEOG) |
Grant
based on financial need awarded by
the institution. Notification
is made approximately four weeks after
start date. |
$480
- $1200 |
FAFSA |
| LOANS |
| Federal
Stafford Loan (Subsidized and Unsubsidized) |
Long-term,
Low interest loan (variable interest
with 8.25% cap, currently 3.42%
for July 2003 through June 2004).
Payments deferred until six months
after student leaves school or attends
less than half time. Need based
calculation. |
First
year up to $2625
Second
year to $3500
Third
year to $5500 |
FAFSA,
Master Promissory Note, & Online
Entrance Counseling |
| Federal
Parent Loan for Undergraduate Students
(PLUS) |
Long-term
variable interest rate loan with a
9% cap (currently 4.22% for July 2003
through June 2004) for parents of
dependent undergraduates. |
Up
to need |
Federal
Plus promissory note. FAFSA |
| Student
Educational Loan Fund (SELF) |
Supplemental,
variable interest rate loan, allows
deferment of principal while in school
and requires credit-worthy co-signer |
Up
to $4500 per year. |
FAFSA,
SELF application. |
| AFG
Alternative Loan Program |
Supplemental,
variable interest rate with 2 options,
allows deferment of principal while
in school at least half-time, allows
use of loans for less than half-time
attendance and does not require a
co-signer, if borrower meets credit
requirements |
Up
to tuition/fee/book costs |
AFG
application |
