Midland College Financial Aid - Federal Grants and Programs

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Federal Grants and Programs

The Federal Government offers financial assistance to eligibility students for expenses such as: tuition and fees, room and board, books and supplies, and transportation. These programs are need-based. To apply for need-based Financial Aid, a Free Application for Federal Student Aid (FAFSA) www.fafsa.ed.gov must be completed and you must meet Federal Aid Eligibility Requirements. For a more detailed information about Federal Financial Aid you may refer to the U.S. Department of Education Student Guide: http://studentaid.ed.gov/students/publications/student_guide/index.html

Federal Student Aid	Type of Aid	Other Information	Annual Awarded Limits	Disbursement
Federal Pell Grant	Grant: Typically does not have to be repaid (SAP)	Available to undergraduates only	Up to $4,731 for 2007-2008	MC Disbursement Policy
Federal Supplemental Educational Opportunity Grant (FSEOG)	Grant: Typically does not have to be repaid (SAP)	Available to undergraduates only	Up to $1,400 at MC	Financial Aid Office awards to students on a first-come-first-serve basis according to financial need
Academic Competitiveness Grant (ACG)	Grant: Typically does not have to be repaid (SAP)	Available to freshmen and sophomores	Up to $1,300 per year maximum	Financial Aid Office awards to Pell-eligible students according to financial need
Federal Work-Study (FWS)	Money is earned, does not have to be repaid	FWS students work up to 15 hours per week, depending on eligibility amount and receive a monthly paycheck	$1,800 per semester maximum at Midland College	Student is awarded through the Financial Aid Office and seeks employment through the Job Placement Office (Career Center)
Subsidized Stafford Loan	Loan must be repaid	The Department of Education pays interest while the student is in school and during grace and deferment periods (MC Loan Policy)	Freshman: $3,500* max Sophomore: $4,500* max *loan amounts are pro-rated based on number of credit hours enrolled	FFEL: private lenders provide funds to school to disburse to students
(Parent) PLUS Loan	Loan must be repaid	Available to parents of dependent undergraduate students (MC Loan Policy)	Cost of attendance minus any other financial aid received	FFEL: private lenders provide funds to school to disburse to students