Types of Aid

Federal Student Aid Program

Type of Aid

Program Details

Annual Award Limits

How to Apply

Federal PELL Grant

Grant: does not have to be repaid

Available almost exclusively to undergraduates; all eligible students will receive the Federal PELL Grant amount they qualify for

$400 to $5,645

Complete the FAFSA. Expected Family Contribution (EFC) must be $5,081 or below.

Federal Supplemental Educational Opportunity Grant (FSEOG)

Grant: does not have to be repaid

For undergraduates with exceptional financial need; priority is given to Federal PELL Grant recipients; funds depend on availability at school.

$100 to $4,000

Complete the FAFSA. Early application is critical.

Federal TEACH Grant

For undergraduate and graduate students, who are in an eligible major, and meet the academic criteria. There is a service obligation tied to the receipt of this grant. If the service requirement is not met, the grant turns into an unsubsidized loan. More information can be found online at 

http://www.fredonia.edu/finaid

$500 - $4,000, depending on enrollment status

Complete the FAFSA. Must be in eligible major and meet the academic criteria.

Tuition Assistance Program (TAP)

Grant: does not have to be repaid

Awards are based on New York State net taxable income and tuition charges. Students can receive TAP for eight semesters.

$75 to $4,995

Complete the FAFSA and TAP application.

SUNY Tuition Credit (SUNYTC)

Aid for Part-Time Study (APTS)

Grant: does not have to be repaid 

For undergraduate students who satisfy eligibility criteria

$1,242 to $2,000 per year

Complete the FAFSA and the SUNY Fredonia APTS application.

Federal Work Study

Money is earned while attending school; does not have to be repaid.

For undergraduate students; jobs can be on campus or off campus; students are paid at least N.Y.S. minimum wage.

Complete the FAFSA. Early application is critical.

Federal Perkins Loan

Loan: must be repaid Interest Rate: fixed 5%

Payment is owed to the school that made the loan

$5,000 yearly maximum for undergraduate students

Complete the FAFSA. Students must have unmet need.

Subsidized Direct Stafford Loan

Loan: must be repaid Interest Rate: fixed 6.8% for undergraduate students only

Subsidized: No interest is accrued while borrower is in school and during grace and deferment periods; you must be at least a half-time student

Freshman - $3,500 Sophomore - $4,500 Junior/Senior - $5,500

Complete the FAFSA. Students must have unmet need.

Unsubsidized Direct Stafford Loan

Loan: must be repaid Interest Rate: fixed 6.8%

Unsubsidized: Borrower is responsible for interest during the life of the loan; you must be at least a half-time student; financial need is not a requirement

Freshman - $5,500 Sophomore - $6,500 Junior/Senior - $7,500 Graduate - $20,500 (includes any subsidized amounts for the same period)

Complete the FAFSA.

Direct PLUS Loan

Loan: must be repaid Interest Rate: fixed 7.9%

Available to parents of dependent undergraduate students who are enrolled at least half-time

Maximum amount is cost of attendance minus any other financial aid the student receives.

Go to

http://www.fredonia.edu/finaid/plus.asp. Apply online.

Grad PLUS Loan

Loan: Must be repaid Interest rate: fixed 7.9%

Available to graduate students who are enrolled at least half-time.

Maximum amount is cost of attendance minus any other financial aid the student receives

Go to

http://www.fredonia.edu/finaid/gradplus.asp. Apply online.

Alternative Loan

Loan: must be repaid Interest Rate: based on Prime or LIBOR and a credit check performed by the lender. The interest rates for these private loans will be significantly higher than the interest rates associated with federal loans.

Borrowers will be evaluated on credit history, debt to income ratio, and work history. A student can be approved when applying alone but will typically require a co-borrower.

Maximum amount is cost of attendance minus any other financial aid the student receives.

Go to http://www.fredonia.edu/finaid/alt.asp. Apply online. Filing a FAFSA is not required to receive Alternative Loan funds. However, you must contact the Financial Aid Office if you wish to waive your right to federal aid.

Scholarships

Refer to

Scholarship section