FEDERAL AND OHIO PROGRAMSFEDERAL PELL GRANT: Award can range from $400 to $3,750 per year for qualified students. (Amount varies year to year) SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG): Amount depends on financial need and available funds. FEDERAL WORK-STUDY (FWS): Jobs on and off campus with hourly wages paid directly to the student to help pay for educational expenses. FEDERAL PERKINS LOAN (formerly NDSL): Maximum loan amount is $4,000 per year (determined by financial need). Repayment begins nine months after student status drops to less than half time, with up to 10 years to pay. Current interest rate is 0% in school (subsidized by the Federal government) and 5% during repayment. FEDERAL SUBSIDIZED STAFFORD LOAN: Up to $3,500 for first year students enrolled in a program fulltime for full academic year (eligibility determined by financial need). Repayment begins six months after student status drops to less than half time with up to ten years to repay. Current interest rate is 0% in school (subsidized by the Federal government) and variable with 8.25% cap during repayment. FEDERAL UNSUBSIDIZED STAFFORD LOAN: Financial need not required (must still file FAFSA). Up to $3,500 for first year students enrolled in a program full-time for full academic year (aggregate total of subsidized and unsubsidized Stafford loan eligibility cannot exceed $3,500 for a first-year student). Repayment begins six months after student status drops to less than half time with up to 10 years to repay. In-school interest rate is variable but is reduced and variable with 8.25% cap during repayment. FEDERAL PARENT LOAN FOR UNDERGRADUATE STUDENTS (PLUS): Annual loan limit is the dependent student’s cost of education minus any estimated financial aid received. Repayment begins within sixty days of disbursement with up to 10 years to repay. Interest rate for new borrowers is variable with 9% cap. OHIO INSTRUCTIONAL GRANT (OIG): For full-time undergraduate students who are Ohio residents and who are attending an approved Ohio school. Award maximum for public institution is $2,190 private institution $5,466, proprietary institution $4,632 for the 2006-2007 academic year. Application deadline for full-year award is October 1. OHIO STUDENT CHOICE GRANT: For full-time undergraduate students who are Ohio residents and are attending an Ohio Private College. Automatic award of $900 for the 2006-2007 academic year. Full-time students who attended any other college prior to July 1, 1984 are ineligible. OHIO WAR ORPHANS SCHOLARSHIP: Granted to undergraduates who are Ohio residents and who are children of deceased or severely disabled veterans of war. Award amounts vary. Applicants must be under 21 years of age time of application. Deadline is July 1 prior to the award year. See local VA rep or High School Guidance Counselor for an application. OHIO ACADEMIC SCHOLARSHIP: Merit awards go to one student at each public, private or vocational high school in Ohio. ACT scores and high school grades used to determine the winner. Approximately $2,000 is awarded per academic year for four years. Qualified students’ names are submitted for selection by the Ohio Board of Regents. |
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