| |
What
is it? |
Who
is eligible? |
Does
it have to be paid back? |
| Federal
Pell Grant |
Grant assistance
for students who have not earned a bachelor's degree. Annual
awards may range up to $4,050 (at time of printing). |
Students
who show need for assistance whether or not they meet the priority
April 1 deadline date. |
No This
is gift aid and does not have to be repaid. |
| Federal
Supplemental Educational Opportunity Grant (FSEOG)* |
Grant assistance
for undergraduate students, with priority given to Pell Grant
recipients. Annual awards may range from $250 to $500. |
Students
who file FASFA by April 1, show a high need for assistance,
and qualify for a Federal Pell Grant. |
No. This
is gift aid and does not have to be repaid. |
| Iowa
Grant* & Iowa Vocational-Technical Grant* |
Grant assistance
available to Iowa residents only. Iowa Grant is $1,000 for a
full academic year. Iowa Vocational-Technical Tuition Grant
can range from $600 to $1,200 for a full academic year. |
Students
who show financial need and meet the July 1 deadline date. |
No. This
is gift aid and does not have to be repaid |
Scholarships*
•
Alumni
• Foundation
• Outside |
Assistance
offered by public and private agencies, organizations, colleges
and universities. Recipients are often selected based upon their
scholastic aptitude. Minimum or maximum awards vary. |
Continuing
and new students with a GPA of 2.00 or higher and who are planning
to be at least a half-time student. Criteria explained on each
application. |
No. This
is gift aid and in some cases, can be renewed if certain conditions
have been met. Most DMACC Foundation scholarship applications
are due May 1. |
Federal
College Work-Study*
|
Part-time
employment during the academic year. Jobs are located on-
or off-campus. Wages are $7.50 per hour. Annual awards may
range up to $1,800. |
Students
who show need for assistance.
Contact
the Job Placement Office on the campus you are attending. |
No. Students
earn their award by working approximately 10-20 hours per week. |
| Ford
Federal Direct Loan |
A
subsidized and/or unsubsidized loan with a variable interest
rate that is lower than commercial rates. Annual limits range
from $2,625 to $3,500 for dependent students and $6,625-$7,500
for independent students |
FEDERAL
SUBSIDIZED:
Students who show need for assistance and are enrolled at
least half-time.
|
Yes. Repayment
of principal and interest will begin 6 months after termination
of studies or after student drops below 1/2 time. |
FEDERAL
UNSUBSIDIZED:
Students enrolled at least half-time.
ADDITIONAL
UNSUBSIDIZED:
Independent students enrolled at least half-time up to $4,000. |
Yes. Interest
is charged from the time student receives their loan until paid
in full. Repayment begins six months after termination of studies
or after student drops below 1/2 time. |
| Alternative
Loans |
Loans
that are available without regard to need for assistance. Borrowers
have the option to pay at least the interest on the loan while
the student is in school. Interest capitalizes from the point
of loan disbursement until loan repayment begins. |
PLUS: Parents
with good credit. |
Yes. Repayment
begins immediately. |
IOWA PARTNERSHIP:
Borrowed through Iowa Student Loan Liquidity Corp.
Call 800-243-7552 or visit www.studentloan.org
for details. |
Yes. Repayment
options available through lender. |
Types
of Financial Aid