Financial Aid Chart for Graduates

Type of Aid	Aid Information	Annual Limits	Requirements
Federal Grants	Type: TEACH Grant The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program, provides up to $4,000 a year in grant assistance to students who are completing or who plan to complete course work needed to begin a career in teaching. In exchange for the grant, a student must sign an agreement to serve as a full-time teacher at certain low-income schools or within certain high-need fields for at least four academic years.	TEACH: up to $4,000 each academic year (reduced by 5.7 percent: $3,772). Cannot exceed $16,000 for total undergraduate program.	Student must file the FAFSA form. see FAFSA links Grants awarded based on financial need. School acts as the U.S. Department of Education's agent. Submit your application for grants through your school.
Institutional Grants	Colleges and Universities offer institutional grants for some graduate and professional programs. Check your school for information.	Limits set by the school.	Student must be enrolled in the graduate or professional program. Other school requirements may be applicable.
Work-Study Programs	Student will work a set number of hours for the school or approved public-service related company. Money is earned: does not have to be repaid. Graduates paid at least the federal minimum wage. See our Aid Steps for more information	No annual maximum. However, the amount cannot exceed your total work-study award.	Student must file the FAFSA form. see FAFSA links School disburses earned funds to students. Submit your application for work study through your school.
Scholarships	Scholarships are available from many private and educational institutions. This type of financial aid does not have to be paid back. The more common form of scholarships are athletic and academic. However, there are a number of scholarships awarded for other achievements.	Limits subject to scholarship award and program.	Scholarships may require an essay, written exam, or some demonstration /document of your eligibility. get some help Most scholarships (including athletic) will require a minimum GPA. Scholarship funds will be sent to the college directly on your behalf.
Federal Perkins Loans see Perkins loans	Loan: no longer available. Under federal law, the authority for schools to make new Perkins Loans ended on Sept. 30, 2017, and final disbursements were permitted through June 30, 2018. As a result, students can no longer receive Federal Perkins Loans.	Amount: N/A Maximum amount: N/A	Your school was the lender using funds shared by the federal government. You must repay this loan to your school.
Federal Stafford Loans see Stafford Loans	2 types of Federal Stafford Loans: subsidized loans: the Federal Government pays interest while the student is in school and during grace and deferment periods. unsubsidized loans: the borrower is responsible for interest during the life of the loan. the type of loans awarded depends on financial status. Loan funds will be sent to the school and disbursed in at least two installments. The funds will first be applied to pay tuition, fees, room and board, and other school charges. Any remaining funds must be used for paying education-related expenses.	graduates: up to $20,500 for each academic year (unsubsidized only) see loan chart	Student must file the FAFSA form. see FAFSA links Loan restricted to education-related expenses only. Student must be enrolled at least half-time in a degree or certificate program at an approved school. Direct Stafford Loans: The federal government provides funds to schools. FFEL Stafford Loans: no longer available for loans disbursed after July 01, 2010.
Federal PLUS Loan for Graduates and Professional Students see grad PLUS program	Graduate and professional students can borrow under the PLUS loan program on their behalf. Loan funds will be sent to the school. The loan will be disbursed in at least two installments; no installment will be greater than half the loan amount. The funds will first be applied to pay tuition, fees, room and board, and other school charges, even travel. Any remaining funds must be used for paying education-related expenses.	The annual limit is equal to the total cost of attendance (including travel) minus any financial aid received. You must first accept all Stafford Student Loan you are eligible for before you may borrow under the Graduate PLUS program.	Student must file the FAFSA form. see FAFSA links Student must pass a credit check to qualify or have a relative or friend who can pass the credit check co-sign the promissory note. Loan restricted to education-related expenses only. Student must be enrolled at least half-time in a degree or certificate program at an approved school.
Private Student Loans see Private Loans or dial: 1-866-813-7760	Private student loans are used to make up the difference between total cost of school and any financial aid received. These loans are not guaranteed by the government so the interest rate and origination fees may be higher. Most private loan programs have higher borrowing limits than federal loan programs. Funds can be used for any education-related expenses, including a new personal computer for school use. SayStudent Loans Financing a Better Future save money build credit pay off your loan faster	From $1,000 up to the full cost of education as certified by your school.	You must have at least 21 months credit experience and a satisfactory credit history. You must meet the credit guidelines for employment and residency. If you can't meet these guidelines, you may need your parent or another creditworthy adult to co-sign for the loan. Graduate students must be enrolled at least half-time in a degree or certificate program at an approved school. Funds are certified through the school.
Home Equity Financing see Home Equity	Private loan program where the lender opens a credit line on your behalf (or your parent), which credit line is secured by the equity value of your or your parent's home. You will use equity line checks or online transfer capabilities to pay for education or other expenses. The line of credit can be used at any time and for any expense up to your approved credit line balance.	No annual limit restrictions. Your amount is subject to your approved equity line balance.	You must have equity value in your home. calculate your equity value You must meet the lenders credit criteria and credit check. There is no limitation or restrictions on the use of the funds.
Banker Home Equity Line of Credit (BLOC) see BLOC program	Same as the home equity product above except that you use your BLOC as your primary money account. Best for applicants who have working income: use BLOC to pay for education expenses deposit your income into the BLOC pay living expenses using the BLOC income left over reduces BLOC account view illustration of program	No annual limits. Your amount is subject to your approved equity line balance.	You must have equity value in your home. calculate your equity value You must meet the lenders credit criteria and credit check. There is no limitation or restrictions on the use of the funds. You must have discretionary income to benefit from the BLOC program.
State Agencies	Individual states offer financial aid programs for state residents and in some cases out-of-state residents attending in-state schools. Financial aid may include grants, scholarships, financial aid assistance, and some loan programs.	Financial assistance may vary by state.	Financial aid qualifications can vary by individual state.
Investment Financing Options see Alternative Aid	State529 Plans Qualified investment plans established and managed by individual states that can be used to pay education expenses. Contributions are after-tax, but earnings in the fund are tax exempt. Funds are available to any named beneficiary. The beneficiary can be the contributor. Two types of plans: Prepaid Tuition Plans College Savings Plan Education IRAs IRA plans that can be setup for education. Contributions are after-tax, but earnings in the fund are tax exempt. The IRA can be used to pay for higher education and K-12 education expenses.	Limitations subject to the available amount in the plan.	Plan must be setup in the name of the beneficiary. Withdrawals are tax-exempt if the funds are used to pay for education-related expenses. Penalties may apply for payment of non-education expenses.
IRA Plans More information from the IRS: http://www.irs.gov	You can make withdrawals from your IRAs for qualified higher education expenses without having to pay the 10% penalty tax.	Limitations subject to the available amount in the plan.	You will owe income tax on at the amount withdrawn from the plan.
Military ROTC see Alternative Aid	Federal-merit scholarship program that will pay for college and provide a monthly allowance. You must meet specific academic or physical fitness requirements to join. For information: Navy Army Air Force Marines National Guard Coast Guard	Limitations subject to the cost of college attendance.	You will be required to complete a period of military service after you graduate.
Eligible Tax Credits More information from the IRS: http://www.irs.gov	The IRS allows students and parents who file and owe taxes to claim one of two educational credits. Tax credits reduce your overall taxes paid dollar-for-dollar.	Lifetime Learning Tax Credit: up to a maximum $2,000 per year per family	Credit can only be taken for expenses covering tuition, fees, and and books (if the book expense was paid to the institution on condition of enrollment) minus any scholarships and grants received. Room and board, personal expenses and transportation are non-eligible expenses.
Other Financial Aid See Aid Note: other types of financial aid available	Includes loan forgiveness programs, VA benefits, Americorps, U.S. public health, and job training programs.	Provides help for limited circumstances.	View program for limitations.

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