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| Eligibility Requirements |
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Eligibility for federal aid is determined on the basis of financial need as well as several other factors. In order to receive aid from the federal programs, you must:
- Have financial need (which is NOT a criteria for student loans).
- Have a high school diploma or GED or pass a test approved by the Department of Education.
- Be degree-seeking in a program of study.
- Be enrolled in an eligible program of study and taking classes required of that program.
- Have a valid Social Security Number.
- Be a U.S. citizen or eligible non-citizen. If you are in the U.S. on an F1 or F2 student visa or only a J1 or J2 exchange visitor visa, or a G series visa you are NOT an eligible non-citizen.
- Register with the Selective Service System if required (you can register here).
- Maintain satisfactory academic progress once in school (you can view our policy here).
- Attend at least half time to receive a Stafford Loan.
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| Types of Financial Aid |
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| Scholarships |
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USA Scholarships |
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External Scholarships |
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| Federal Financial Aid |
| Federal Student Aid Programs include grants, loans and part-time employment. Eligibility for most of these programs is based upon the "demonstrated financial need" of the student applicant and the applicant's family. However, financial need is not an eligibility criterion for the federal Stafford Unsubsidized Student Loan or the federal Parent PLUS loan. Therefore, most federal student aid applicants will be eligible for some form of financial assistance through the federal student aid programs regardless of demonstrated financial need. In order for eligibility to be determined federal student aid applicants must file a Free Application for Federal Student Aid (FAFSA) each year. |
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Federal Pell Grant |
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The Federal Pell Grant is a basic "need based" grant awarded to the neediest undergraduate students working on a first bachelor's degree. Eligibility is determined through a standard formula established by Congress, which is used to evaluate the information reported on the Free Application for Student Financial Aid (FAFSA). Pell Grant awards range from $400 to $4,310 per year. (You may not receive Pell Grant funds from more than one school at a time.) The Pell Grant award will be shown on your Award Notification. You must be enrolled FULL-TIME, in order to receive the full amount of the Pell Grant award. |
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Federal Supplemental Educational Opportunity Grant |
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The Federal Supplemental Educational Opportunity Grant (SEOG) is a "need based" grant awarded to undergraduate students, enrolled in a first bachelor's degree program who are eligible for a Pell Grant. SEOG funds are severely limited and are awarded to eligible students until the funds are depleted. The SEOG award will be shown on your Award Notification. |
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Academic Competitiveness Grant |
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An eligible student may receive this grant of up to $750 for the first academic year of study and up to $1300 for the second academic year of study. The student must be a US Citizen, a federal Pell Grant recipient, be enrolled full-time in a degree program, be enrolled in a first or second academic year of the program of study, and have completed a rigorous secondary school program of study (after January 1, 2006, if a first year student, and after January 1, 2005 if a second-year student. Furthermore, a second-year student must have at least a cumulative 3.0 grade point average. |
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National SMART Grant |
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An eligible student may receive this grant of up to $4000 for each of the third and fourth academic years of study. To be eligible for each academic year, a student must be a US citizen, be a federal Pell Grant recipient, be enrolled full-time in a degree program, be enrolled in a four-year degree-granting institution and be majoring in physical, life, or computer science, engineering, mathematics, technology, or a critical foreign language and have at least a cumulative 3.0 grade point average in the coursework required for the student's major. |
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Federal Work-Study Program (FWS) |
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The Federal Work-Study Program (FWS)
is a "need based" part-time work program which allows students to earn money to help pay educational expenses. The amount shown on the Award Notification is the maximum amount available to earn on the FWS program. FWS will not be available at registration for the payment of fees. FWS student employees will be paid twice per month. The maximum award allows student employees to work up to 20 hours per week. |
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Federal Perkins Loan |
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The Federal Perkins Loan
is a "need based", revolving loan fund utilizing both federal and institutional funds. This award is a loan and must be repaid by the borrower. The federal government pays the interest while the student is in school at least half-time, during a nine-month grace period, and during periods of deferment. |
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Federal Family Education Loan Programs (FFELP) |
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Federal Family Education Loan Programs (FFELP) are low interest loans that undergraduates, graduates and parents of dependent undergraduates may obtain from a lending institution such as a bank. They include the Federal Subsidized Stafford Loan, the Federal Unsubsidized Stafford Loan and the Federal PLUS Loan. These loan programs were created by Congress to help all eligible students and parents, with and without financial need, pay for the student's educational expenses. |
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- Federal Stafford Loan
The type of Federal Stafford Loan a student may borrow is based mainly on the student's demonstrated need. Demonstrated need is the student's cost of attendance minus the expected family contribution, which is calculated from the information submitted on the Free Application for Federal Student Aid (FAFSA), minus other aid. The subsidized Federal Stafford Loan is awarded to students with demonstrated need and the federal government pays the interest while the student is in school, during the grace period, and during periods of deferment. The unsubsidized Federal Stafford Loan is awarded to students without demonstrated need and the student borrower pays the interest while in school and during the grace period; however, the student may defer the interest payment until the end of the grace period. Students may receive a combination of both loans depending on their eligibility of need versus no-need and their dependency status. Some independent students are eligible to borrow additional unsubsidized Federal Stafford Loan funds despite their demonstrated need.
Federal Stafford Loan Limits:
Dependent Undergraduates:
- Freshmen may borrow up to $3,500 per year.
- Sophomores may borrow up to $4,500 per year.
- Juniors and Seniors may borrow up to $5,500 per year.
- The maximum that all undergraduates may borrow for all years is $23,000.
Independent Undergraduates:
- Freshmen may borrow up to $7,500 per year.
(Not to exceed $3,500 in subsidized)
- Sophomores may borrow up to $8,500 per year.
(Not to exceed $4,500 in subsidized)
- Juniors and Seniors may borrow up to $10,500 per year.
(Not to exceed $5,500 in subsidized)
- The maximum that all undergraduates may borrow for all years is $46,000. (Not to exceed $23,000 in subsidized)
Graduate Students:
- Graduate student may borrow up to $20,500 per year (Not to exceed $8,500 in subsidized)
- The maximum that all graduate students may borrow $138,500. (Not to exceed $65,500 in subsidized loans)
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Federal PLUS Loan |
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Only eligible parents of eligible dependent undergraduates may borrow through the Federal PLUS Loan Program. The amount parents may borrow is the student's Cost of Attendance minus the Estimated Financial Aid to be received during the loan period. Parents must begin repaying both principal and interest within sixty days after the loan is disbursed. The lender charges interest on the loan from the date the first disbursement is made until the loan is paid in full. |
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Federal Graduate PLUS Loan |
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Graduate PLUS loans are federally sponsored loans for students attending graduate school. With a Grad PLUS loan, you may borrow up to the full cost of your education, less other financial aid received including Federal Stafford loans. The current fixed interest rate is 8.5% and a credit check is required. |
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| State Aid |
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Alabama Student Assistance Program |
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Alabama Student Assistance Program (ASAP) is gift aid awarded to eligible Alabama residents seeking a first undergraduate degree. Students must meet general eligibility requirements including demonstrating financial need. Funds are awarded only to students who are Federal Pell Grant recipients.
The amount of ASAP awards depends on the student's need and the amount of funds allocated to the University and the availability of those funds. |
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| Alternative Loans |
| Students who do not qualify for federal financial aid, or who need additional funds beyond what federal financial aid can provide, have an option of applying for an alternative (private or non-federal) educational loan. Alternative loans are generally more expensive, therefore should only be considered if absolutely necessary. In most cases, the student applicant's credit and/or co-signer's credit must be approved by the lender. In addition, you must be in good academic standing as defined by the University Registrar Office. The eligible loan amount can be no greater than the Cost of Attendance minus all other Estimated Financial Aid and you must be at least half-time at the time of disbursement. USA only processes alternative loans through Sallie Mae Signature Loans. |
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