The information below is currently being updated.  The financial aid section of our new Web site is under construction...

Federal Grants

The federal government offers numerous grants to defray the cost of a college education.  Unlike a loan, the money you receive as a grant does not have to be repaid. 

Federal Pell Grants

Pell Grants award up to $4,731 per year.  The actual amount of your grant will depend on your estimated family contribution (how much you are expected to pay toward your education), your enrollment status (whether you’re full time, part time, or less than part time), and whether you attend school for the full academic year. 

If you are ineligible for a Pell Grant, you may qualify for other programs, such as the ISAC Monetary Award Program (MAP) Grant, Federal Work-Study, or a loan programs. 

Learn more about Pell Grants here . 

Federal Supplemental Educational Opportunity Grant (FSEOG)

These grants are for students with extreme financial need.   Students receiving Federal Pell Grants and who apply for financial aid by the L&C's Financial Aid Office’s priority deadline of June 30, 2008, are given priority.  Awards at L&C are $500 per year.   

To find out more about these types of funding, view the U.S. Department of Education's guide to Federal Student Aid . 

Federal Loans 

Federal Stafford Loan

The Federal Stafford Loan is a low-interest loan available from the federal government, either as a subsidized or unsubsidized version.  If you qualify for the subsidized version because of your financial need, the federal government pays the interest on your loan while you’re in school.  (That’s why it’s called a “subsidized” loan.)  The unsubsidized version is not based on financial need, and you’ll be charged interest on the loan as soon as the funds are disbursed.  (You may pay the interest while in school or defer interest payments until you’ve finished school, but the interest will be added to the amount you owe.) 

Both versions require that repayment begin six months after you graduate or terminate your studies. The maximum annual loan amounts for 2008-2009 are: 

• First year: $3,500
• Sophomore: $4,500

Federal Parent Loan for Undergraduate Students (PLUS Loan)

This loan is available to families who want a low-interest loan to pay for a dependent student’s educational expenses but have no demonstrated financial need. These loans may not exceed the student’s cost of attendance minus other aid. Repayment usually begins 60 days from the date of disbursement. Contact your bank or the Financial Aid Office for additional information. 

For complete information on all of these loans, see the Student Guide published by the US Department of Educcation.

Please see the Work Study Programs section for information about Federal and Institutional Work Study.