Type of Aid  Aid Information  Annual Limits  Requirements
Federal Grants

4 types of Federal Grants:

  1. Federal Pell Grant
  2. Federal Supplemental Educational Opportunity Grant (FSEOG)
  3. TEACH Grant
  4. Iraq and Afghanistan Service Grant

These grants are available to students enrolled in undergraduates programs.

These grants do not have to be repaid. Special provisions are required to receive these grants.

See Federal Grants for more information

Pell Grant:
up to $6,345 annually.

between $100 and $4,000 each academic year.

up to $4,000 each academic year (reduced by 5.9 percent: $3,764). Cannot exceed $16,000 for total undergraduate program.

up to $6,195 annually; adjusted down (reduced by 5.9 percent: $5,829.50).

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.

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. Undergraduates paid at least federal minimum wage.

See our Aid Steps for more information

No annual minimum or maximum.

However, the amount cannot exceed your total work-study award.

Jobs can be on campus or off campus. Funds depend on availability at school.

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 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.


Maximum amount:

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:

  1. subsidized loans:
    the Federal Government pays interest while the student is in school and during grace and deferment periods.

  2. 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.

$5,500 to $12,500 annually depending on grade level and status

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.
Student Loans

see Private Loans

or dial:

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.


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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.

Undergraduate 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.

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.

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:

  1. Prepaid Tuition Plans
  2. 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.

link to individual states for information

IRA Plans

More information from the IRS:

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:

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:

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

American Opportunity Tax Credit:
up to a maximum $2,500 annually per eligible student for the first four years of school.

Credit can only be taken for expenses covering tuition, fees, 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.

Check with your tax advisor for information.

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.