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Financial
Aid Other Than Loans
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Get yourself a
financial aid using our specialized programmes. We can
help you continue your education further through our
easily available financial grants.
Financial aid is money that is given, lent, or paid
to you so you can pay for your education. Financial
aid is available from private sources, colleges and
universities, or state and federal government
agencies.
Saving for college and
investigating financial aid options are important
steps in planning for college. Fortunately,
there are many types of programs that provide
financial assistance for college, or "financial
aid," to help you and your family manage the
cost. To become eligible
for financial aid assistance, some scholarships and
grants require you to complete the Free Application
for Federal Student Aid (FAFSA)
and others require you to sign up while still in
middle school and agree to meet certain requirements
in high school.
Financial aid comes in two basic forms: gift aid
and self-help aid. Scholarships fall in the former
category and do not need to be paid back; the latter,
however, comes in the form of loans that have to be
paid back after graduation. Another form of gift aid
is Grants: monetary awards given by the government to
low income students.
To be eligible for
financial aid, following points have to fulfill :
- A U.S. citizen or eligible non-citizen.
- Completion of the FAFSA demonstrates a financial
need.
- Student must be making Satisfactory Academic
Progress according to the institution's policy.
Refer to the policy for specific requirements.
Student is not in default on a federal student
loan.
- Student must be enrolled on at least a half-time
basis (six hours per semester) and pursuing a
certificate or post secondary degree.
- If student is male, he is registered with
Selective Service if between the ages of 18-25.
To help the students
financially there are many options available :
1.
Grants :
Grants are the
financial aid that does not have to be repaid; aid
usually awarded to students based on financial need. These
funds come from a variety of sources including the
college, the state and federal governments and outside
organizations. Even though the student does not repay
these funds, there may be criteria that the student
must meet to have their aid renewed. The student may
be required to complete a minimum number of credits
per year and maintain a specified grade point average
to receive financial aid in subsequent years.
The U.S. Department of Education
(ED) is providing
about $36 billion this year to states and school
districts, primarily through formula-based grant
programs, to improve elementary and secondary schools
and meet the special needs of students. ED is
providing about $2.5 billion to help strengthen
teaching and learning in colleges and other
postsecondary institutions and about $3.3 billion to
support rehabilitation, research and development,
statistics, and assessment.
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The grants available
through federal and state resources are :
- Federal Pell Grant
:
A federal grant based on financial need as
determined by the Free Application for Federal
Student Aid (FAFSA).
- Federal Supplemental
Educational Opportunity Grant (FSEOG) :
This federal grant is awarded by the institution
to students who demonstrate exceptional financial
need as determined by the FAFSA.
2.
Work
Programs :
Work study is a federal work program where you are
required to work for the money that is being given for
your fees. Often, these jobs are part time jobs on
campus.
Students work in
one of many departments on and off campus learning
skills that are beneficial to them. Working while
taking classes offers many advantages to students.
Students learn time management skills, earn money and
gain work experience that can be a great reference for
a resume.
There are two types of work programs available to
students - community service work programs partially
funded by the federal government and part-time
employment fully funded through the University.
The work programs
available are :
- Federal College Work
Study :
This program offers on-campus or off-campus
community service work programs that are partially
funded by the federal government. Awards are made
based on student's financial need as determined by
the FAFSA. Work-study jobs are coordinated through
the Office of Financial Aid.
- Part-time Employment :
This on-campus work program is fully funded
through the University. Financial need is not a
requirement, but job availability is limited.
These jobs are also coordinated through the Office
of Financial Aid.
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3.
Scholarships
:
Scholarships are extremely attractive to pay for
college because they need not be repaid. Scholarships
can be based on academic performance, financial need,
religious affiliation, minority status, heritage,
community affiliations, or a unique set of criteria
that's important to the organization providing funds.
Scholarships are available to students in two
categories - those that are based on outstanding
academic records or talent, and private scholarships
available to students who meet specified
qualifications.
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Here are the two :
- Scholarships based on
Outstanding Academic Records
:
This type of scholarships are
available to full-time undergraduate students
based on outstanding high school or college
academic performance and students who've
demonstrated outstanding talent in theatre, art,
music, or athletic ability. These scholarships are
not available to students who enroll in
accelerated, contract, cohort, and second bachelor
degree programs.
- Private Scholarships
(ex-Nursing Grants/Scholarships) :
Several scholarships/grants are available to
nursing majors who meet specified eligibility
criteria. Some grants/scholarships are awarded
annually and others may be renewed. Several
scholarships are available through regional
community organizations and professional groups.
4. State Aid :
All states provide some type of grant, scholarship,
or tuition assistance programs in the form of state
aid. Eligibility for most state-funded grants is based
on the completion of the FAFSA. Some states might also
require the PROFILE and/or a state-specific
application.
The government has funded
three state-based grant programs :
- Paul Douglas Teacher
Scholarships :
Awarded to outstanding high school
graduates planning to teach in elementary or
secondary schools. Recipients are selected by
state scholarship agencies.
- Robert Byrd Honors
Scholarships :
Grants awarded to outstanding high
school graduates. Recipients are selected by state
scholarship agencies.
- National Science
Scholars :
Grants awarded to outstanding high
school seniors to study science, math, or
engineering. Recipients are selected by state
agencies.
Funding for these three programs is determined by
Congress annually.
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5. Institutional
Assistance :
The money supplied by the school you
attend is called Institutional
Assistance. Institutional Grants are those offered by a college
from its own resources. Most institutions offer some
type of need-based and non-need-based aid for their
students. Eligibility for these awards varies from
school to school.
The grant come under this
category is:
Federal Supplemental
Educational Opportunity Grant (FSEOG) :
This grant is for undergraduates with exceptional
financial need--that is, students with the lowest Expected
Family Contributions (EFCs)--and gives priority to
students who receive Federal
Pell Grants. An FSEOG doesn't have to be paid
back.
FSEOG differs from Pell Grants in that while the US
Department of Education guarantees that each
participating school will receive enough money to pay
the Federal Pell Grants of its eligible students,
there's no guarantee that every eligible student will
be able to receive and FSEOG; students at each school
may be awarded an FSEOG based on the availability of
funds at that school.
You can receive between $100 and $4,000 U.S. a
year, depending on when you apply, your level of need,
the funding level of the school you're attending, and
the policies of the financial aid office where you
attend school. FSEOGs are awarded only to
undergraduate students who have not earned bachelor's
or professional degrees.
Your school will credit your account, pay you
directly (usually by check), or combine these methods.
Schools must pay students at least once per term
(semester, trimester, or quarter). Generally, schools
that do not use traditional terms must pay you at
least twice during the academic year.
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