The federal government provides funds for higher education. Assistance can come in the form of grants, loans or student employment. Other aid may be available from the state where you live, the college you attend, or from various organizations. Post University’s team of financial aid experts is trained to help you through the process of applying for any scholarships, federal aid, grants and loans that may be available to you. With so many options to consider, you may qualify for more than you think. Read about the necessary criteria to be eligible to receive federal financial aid and the types of funds available.
Federal Aid Eligibility Criteria
Students must meet certain financial aid eligibility requirements to qualify for federal aid, including:
Have a high school diploma, GED or have completed home schooling
Be a U.S. citizen or eligible non-citizen
Make satisfactory academic progress
Maintain half-time enrollment for Federal Direct Loans. (Half-time enrollment is not required for Federal Pell Grants.)
Not be in default on a federal loan or owe repayment on a federal grant
Have registered with Selective Service if male between the ages of 18 and 25
Federal Financial Aid Funds
Federal Pell Grants
Federal Pell Grants are awarded to students with exceptional financial need as determined by the FAFSA. These grants do not have to be repaid. Students who already have a bachelor’s degree are generally not eligible to receive a federal Pell Grant. A student’s expected family contribution from the FAFSA and enrollment status determines the student’s federal Pell Grant award amount.
Federal Supplemental Educational Opportunity Grants (FSEOG)
Federal Supplemental Educational Opportunity Grants (FSEOG) are awarded to students with exceptional financial need as determined by the FAFSA. These grants do not have to be repaid. Unlike the federal Pell Grant, FSEOG grants are “campus-based” with very limited funds available.
Federal Work Study
Federal Work Study provides part-time jobs for undergraduate or graduate students with financial need. Students earn money to help pay for educational expenses. Job opportunities are available on campus or off campus involving community service work.
Federal Direct Subsidized Loans
Federal Direct Subsidized Loans are available to students who demonstrate financial need as a result of completing the FAFSA. This loan must be repaid following a six-month grace period after the student graduates or is no longer enrolled at least half-time. The U.S. Department of Education pays the interest on subsidized loans while the student is in school at least half-time, during the grace period and during a period of deferment.
Federal Direct Unsubsidized Loans
Federal Direct Unsubsidized Loans are available to all students who qualify. This loan must be repaid following a six-month grace period after the student graduates or is no longer enrolled at least half-time. Unsubsidized loans will begin to accrue interest from the date the loans are disbursed.
Federal Graduate Plus Loans
Federal Graduate Plus Loans are available to graduate students pursuing a master’s degree to help pay for educational expenses. Grad Plus loans require a credit check and have a fixed interest rate. The student will need to apply through the studentaid.ed.gov website. Once the loan is approved, the student can request an amount up to the cost of attendance less other aid received. Educational expenses include tuition, fees, room and board, transportation, and other personal expenses. Repayment begins after a six-month grace period when the student has completed his or her program or is no longer enrolled at least half-time.
Federal aid is available to those who qualify and can be vital for students wanting to attend college. To learn more about how Post University can make education more affordable and more valuable, visit the Tuition & Fees page to guide you through your educational expenses.