Student Aid Programs

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Every year, millions of students graduate from high school. A college education is often the foundation to achieve their dreams. Funding that education may not be as hard as it seems.

Student aid is available from many sources. A good place to begin searching is the local library. Most libraries have a student aid section. Some sources to research include:

• Federal Student Aid Programs
• State Student Aid Programs
• Foundations
• Religious Organizations
• Civic Groups
• Unions
• Parent's Employers
• Organizations related to your field, such as the American Medical or Bar Associations

Federal Student Aid Programs

The U.S. Department of Education provides $33 billion each year to students attending "post-secondary schools." They provide financial aid through a variety of programs, including:

• Federal Pell Grants - For undergraduates only. They don't have to be repaid.
• Federal Stafford Loans - Available to both undergraduate and graduate students, they must be repaid. First-year undergraduates are eligible for loans up to $2,625. Amounts increase for each year of study. The interest rate varies but never exceeds 8.25%.
• Federal PLUS Loans - Unsubsidized loans made to parents. The interest rate varies but never exceeds 9%.
• Campus-Based Programs - Administered by participating schools.
• Federal Supplemental Educational Opportunity Grants - For undergraduates only, they range from $100-$4,000.
• Federal Work Study - Provides jobs to both undergraduate and graduate students so they can earn money to pay education expenses.
• Perkins Loans - Low interest (5%) loans that must be repaid. Loans can be up to $4,000 annually for undergraduates and up to $6,000 annually for graduate students.

To qualify for these programs, the student must be: (1) a U.S. citizen or an eligible non-citizen registered with the Selective Service; (2) attending a participating school; (3) working toward a degree or certificate; and (4) making satisfactory academic progress. You must also have a financial need, have no drug convictions, and not owe a refund on a federal grant or be in default on a federal education loan. For more information, contact your college financial office or visit the U.S. Department of Education website at: www.fafsa.ed.gov/

Ohio Financial Aid Programs

The Ohio Board of Regents manages state-funded financial aid programs, including:

• Part-Time Student Instructional Grant - For Ohio residents who are enrolled part-time in undergraduate studies at an eligible Ohio college or university.
• Ohio Instructional Grant - Provides need-based tuition assistance to full-time undergraduate students from low-income and moderate-income families.
• The Ohio War Orphans Scholarship Program - For children of deceased or severely disabled Ohio veterans who served in the armed forces during a declared war or conflict.
• Regents Graduate/Professional Fellowship Program - Merit-based financial aid to Ohio college graduates who enroll for further study at participating Ohio institutions.
• OhioSafetyOfficersCollege Memorial Fund - Provides tuition help to child or spouse of a peace officer, firefighter or certain other safety officers killed in the line of duty.
• Nurse Education Assistance Loan Program - Provides financial help to Ohio students enrolled for at least half-time study in an approved Ohio nurse education program.
• The Ohio Academic Scholarship Program - Provides competitive, merit-based financial assistance to Ohio high school graduates who are academically outstanding and who enroll for full-time undergraduate study in Ohio colleges or universities.
• Robert C. Byrd Honors Scholarship Program - Awards financial assistance to students who demonstrate outstanding academic achievement in high school.
• Ohio Student Choice Grant Program - Provides financial help to full-time students who enroll for baccalaureate study in Ohio private non-profit colleges and universities.
• Student Workforce Development Grant Program - Provides tuition assistance to Ohio students enrolled full-time in private career schools.

For more information, visit the Board's website at: www.regents.state.oh.us/sgs/

Other Useful Websites for financial Aid Information

FastWeb - www.FastWeb.com
USA Funds - www.usafunds.org
Bill and Melinda Gates Foundation - www.gmsp.org/
I Know I Can - www.iknowican.org
Cleveland Scholarship Programs, Inc., - www.cspohio.org/
Ohio College Access Network (OCAN) - www.ohiocan.org
Ass'n of Student Financial Aid Administrators - www.finaid.org/