Financial Aid - Federal Aid Programs


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Federal Aid Programs

Goldey-Beacom College awards funds to eligible undergraduate or graduate students from the following federal aid programs. Each program has specific eligibility requirements that an undergraduate or graduate aid applicant must meet before he/she is determined eligible to receive an annual award. For a complete listing of federal funding sources available to qualified students, go to http://studentaid.ed.gov/PORTALSWebApp/students/english/funding.jsp.

Federal Pell Grant Program
The Federal Pell Grant Program makes funds available to eligible students attending Goldey-Beacom College. The amount of funds awarded is based upon the student's financial aid eligibility. Pell Grant awards in 2011-13 range from $363 to $5,550 per year. Students interested in applying for the Pell Grant can do so by filing a Free Application for Federal Student Aid (FAFSA).

Federal Supplemental Educational Opportunity Grant Program (FSEOG)
The Federal Supplemental Educational Opportunity Grant Program is a grant program from which funds are awarded based upon the student's Pell Grant award and available campus-based funds. Eligibility is determined according to a need analysis which is calculated from the information processed on the FAFSA. FSEOG awards range from $100 to $4,000 per year. Grants are awarded to eligible students until federal funding is exhausted.

Federal Work-Study Program (FWS)
The Federal Work-Study Program is a federally-funded program through which students with demonstrated financial need are awarded funds that they may earn by working at jobs on and off campus. Wages are paid directly to the student on a monthly basis. Students are required to file a FAFSA to establish eligibility.

Federal Perkins Loan Program
The Federal Perkins Loan Program is a federally-funded program, which provides Goldey-Beacom College with funds to loan directly to eligible students. As with any loan program, the money must be paid back. The loan is interest-free while the student attends school provided that he/she maintains at least half-time (minimum six credit hours of graduate and/or undergraduate course work) enrollment status. The maximum loan awarded for a two-year program is $8,000 and for a four-year program is $20,000. Students are required to file a FAFSA to establish eligibility. Loan funds are awarded to eligible students until federal funding is exhausted.

Federal Direct Loan Program
The College participates in the Federal Direct Loan program which makes funds available to eligible undergraduate and graduate students. Students are required to file a FAFSA (Free Application Form for Federal Student Aid) to determine eligibility for the program. Students interested in learning more about the Federal Direct Loan Program are encouraged to visit http://www2.ed.gov/offices/OSFAP/DirectLoan/student.html.

Federal Direct PLUS Loans
The College participates in the Federal Direct PLUS Loan program which makes funds available to eligible parents of undergraduate students. Parents who are interested in learning more about the program can visit http://www2.ed.gov/offices/OSFAP/DirectLoan/student.html. A FAFSA must be on file for the student to initiate parent borrower eligibility.

The College’s Financial Aid/Advisement Office welcomes the chance to discuss the many scholarship and grant assistance programs available to qualified students. For a general estimate of the net price of attendance, the Net Price Calculator may be used. For those seeking further information, please contact the Financial Aid/Advisement Office at (302) 225-6265.