Rosedale Bible College : Finances : Federal Aid

Pell Grant

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded to undergraduate students who have not earned a bachelor's or a professional degree.
The maximum award for the 2008-09 award year (July 1, 2008 to June 30, 2009) is $4,731. The amount you get will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.

Federal Supplemental Educational Opportunity Grant (FSEOG)

Federal Supplemental Educational Opportunity Grants (FSEOG) are for undergraduates with exceptional financial need. Pell Grant recipients with the lowest EFCs will be the first to get FSEOGs.
Just like Pell Grants, FSEOGs don't have to be paid back You can receive between $100 and $1,000 a year, depending on when you apply, your financial need, and the funding at the school you're attending.

Federal Work Study (FWS)

Federal Work-Study (FWS) provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses.

Stafford Loans

A subsidized loan is awarded on the basis of financial need. You won’t be charged any interest before you begin repayment or during deferment periods. The federal government “subsidizes” the interest during these periods.
An unsubsidized loan is not awarded on the basis of need. You’ll be charged interest from the time the loan is disbursed until it’s paid in full. If you allow the interest to accrue (accumulate) while you’re in school or during other periods of nonpayment, it will be capitalized. This means the interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount.

Go to www.studentaid.ed.gov for more information about federal student aid.





	F E D E R A L A I D Pell Grant A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded to undergraduate students who have not earned a bachelor's or a professional degree. The maximum award for the 2008-09 award year (July 1, 2008 to June 30, 2009) is $4,731. The amount you get will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less. Federal Supplemental Educational Opportunity Grant (FSEOG) Federal Supplemental Educational Opportunity Grants (FSEOG) are for undergraduates with exceptional financial need. Pell Grant recipients with the lowest EFCs will be the first to get FSEOGs. Just like Pell Grants, FSEOGs don't have to be paid back You can receive between $100 and $1,000 a year, depending on when you apply, your financial need, and the funding at the school you're attending. Federal Work Study (FWS) Federal Work-Study (FWS) provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. Stafford Loans A subsidized loan is awarded on the basis of financial need. You won’t be charged any interest before you begin repayment or during deferment periods. The federal government “subsidizes” the interest during these periods. An unsubsidized loan is not awarded on the basis of need. You’ll be charged interest from the time the loan is disbursed until it’s paid in full. If you allow the interest to accrue (accumulate) while you’re in school or during other periods of nonpayment, it will be capitalized. This means the interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount. Go to www.studentaid.ed.gov for more information about federal student aid. See also: Ohio Aid Other State Aid Offices RBC Aid