/Institutions/Southern-Arkansas-University-Tech/json/2022-2023/Catalog-local.json

/Institutions/Southern-Arkansas-University-Tech/json/2022-2023/Catalog.json

Federal Aid Programs

Federal Pell Grant – Federal Pell Grants are awarded to help undergraduate students pay for education after high school. These grants, unlike loans, do not have to be repaid. For many students, the Federal Pell Grant will provide a foundation of financial aid to which aid from other federal and non-federal sources may be added; the amount of any other student aid for which students might qualify does not affect the amount of Federal Pell Grant they receive. The maximum award amount is set each year by the United States Congress. The amount a student receives will depend on the individual’s EFC, the projected cost of attendance, the student’s enrollment status, and whether the student attends for the full academic year. There is a lifetime eligibility limit of 600% (equivalent to six full-time years). Students who already received a Bachelor or professional degree are not eligible (in some cases, however, a student enrolled in a post baccalaureate teacher certification program might receive the Federal Pell Grant). Students incarcerated in a federal or state penal institution or are subject to an involuntary civil commitment upon completion of a period of incarceration for a forcible or non-forcible sexual offense are not eligible for the Federal Pell Grant.

Iraq and Afghanistan Service Grant (IASG). Like other federal grants, IASG provides money to college or career school students to help pay for their education. Students may be eligible for the IASG if:

• You are not eligible for Federal Pell Grant on the basis of your EFC but
• Meet the remaining Federal Pell Grant eligibility requirements, and
• Your parent or guardian was a member of the U.S. armed forces and dies as a result of military service performed in Iraq or Afghanistan after the events of 9/11, and
• You were under the age of 24 years old or enrolled in college at least part-time at the time of your parent’s or guardian’s death.

The grant is equal to the amount of maximum Federal Pell Grant for the award year but cannot exceed the cost of attendance for the award year. Due to sequestration, award amounts for the IASG that is first disbursed on or after October 1, 2015, and before October 1, 2016, must be reduced by 6.8 percent from the award amount for which a recipient would otherwise have been entitled. Any IASG that is first disbursed on or after October 1, 2016, and before October 1, 2017, must be reduced by 6.9 percent.

Federal Supplemental Educational Opportunity Grant (FSEOG). FSEOG is a campus-based federal grant program available to undergraduate students with exceptional financial need. The availability of these funds vary by institution. Funds are limited, so not all students will be able to receive the grant.  Eligible students with the highest need (those with the lowest EFCs) who will also receive Federal Pell Grants will be the first selection group for FSEOG funds. If remaining FSEOG funds are available, eligible students with the lowest EFCs, including students who will not receive Federal Pell Grants, will be the second selection group. FSEOG awards do not have to be repaid.

Federal Work Study (FWS). The Federal Work Study Program provides jobs for students who have demonstrated financial need. Federal Work Study gives students the opportunity to earn money to help with educational expenses. The amount that students may earn is determined by need and availability of funds. Work study employees must be able to provide certain employment eligibility verification. Jobs are limited by availability of funds. Students will be selected by the various departments based on an interview process.

Subsidized Federal Direct Loan. A Subsidized Federal Direct Loan is a low-interest loan for educational purposes only made to students who are enrolled and maintain at least half-time status (six hours or more). These loans are made by the federal government and must be repaid with any accrued interest. To qualify, students must have financial need and complete entrance counseling and a master promissory note. The federal government pays the interest on the loan while the student is in school. Repayment begins six months after the student drops below half-time status, leaves school or graduates.

Unsubsidized Federal Direct Loan. An Unsubsidized Federal Direct Loan is a non-need based loan that the student is responsible for the interest charged during in-school and deferment periods. These loans are made by the federal government and must be repaid with any accrued interest. Students must be enrolled and maintain at least half-time status (six hours or more). The student may allow the interest to accumulate until he/she is out of school; however, this will increase the amount of the principal payback. Repayment begins six months after the student drops below half-time status, leaves school or graduates.

Federal PLUS Loans. The Federal Parent Loan for Undergraduate Students (PLUS) is a low-interest loan to help parents, step-parents, or legal guardians pay for their dependent student's educational expenses. Students must complete the FAFSA at www.studentaid.gov. before a PLUS loan can be certified. Students must file as a dependent student, although the parent applying does not have to be listed on the FAFSA. Parents must pass a credit check to be eligible for this loan. The parent is the borrower for the PLUS loan program. Generally, repayment begins within 60 days after the final loan disbursement is made to the borrower. If parents do not pass the credit check, the student can qualify for additional unsubsidized loan funds. Please see the Financial Aid Office for more information.