Types of Federal and State Aid

Federal Pell Grant

• Gift Aid: does  not have to be repaid; based on need; determined by FAFSA
• Award limits for the 10/11 academic year: $609-$5,550
• Available only to undergraduates who have not earned a bachelor’s degree
• Awarded fall, spring and/or summer (if eligibility permits)

Federal Supplemental Educational Opportunity Grant

• Gift Aid: does not have to be repaid; based on exceptional need
• Must be eligible for the Federal Pell Grant
• Available only to undergraduates who have not earned a bachelor’s degree
• Funding is limited; must meet April 15th  FAFSA application deadline date
• Award limits for the 10/11 academic year: $100-$1,200
• Awarded fall and spring

University of the District of Columbia Institutional Grant

• Gift Aid: does not have to be repaid; based on need
• Must be eligible for the Federal Pell Grant
• Available only to undergraduates who have not earned a bachelor’s degree
• Funding is limited; must meet April 15th FAFSA application deadline date
• Award limits for the 10/11 academic year: $100-$1,000
• Awarded fall and spring

Academic Competitiveness Grant (ACG)

• Gift Aid: does not have to be repaid
• Must be eligible for the Federal Pell Grant
• Enrolled at least half-time (6 credits); must be in first or second year study
• First year students must have completed rigorous high school program of study:
  • graduated from high school after January 1, 2006
  • not previously enrolled in an undergraduate program
• Second year students must have completed rigorous high school program of study:
  • graduated from high school after January 1, 2005
  • have at least a 3.0 cumulative GPA at end of first year of postsecondary study
• Award limits for the 10/11 academic year: up to $750 (first year) up to $1,300 second year
• Awarded fall and spring

National Science and Mathematics Access to Retain Talent Grant (SMART Grant)

• Gift Aid: does not have to be repaid
• Must be eligible for the Federal Pell Grant
• Enrolled full-time in third or fourth undergraduate year of study
• Majoring in: Physical life or computer sciences, engineering, technology, mathematics, or a critical need foreign language
• At least a 3.0 cumulative GPA
• Award limits for the 10/11 academic year: up to $4,000

Leveraging Educational Assistance Partnership (LEAP)

• Gift Aid: does not have to be repaid
• Funds offered to residents of the District of Columbia only
• Based on need
• May be awarded up to $1,500
• Must apply online at www.osse.dc.gov and submit all supporting documents by June 30th deadline date to the DC Office of the State Superintendent of Education

Federal Work-Study (FWS) & Student Employment Program (SEP)

• On and off campus employment
• Paid bi-weekly for hours actually worked
• Awarded to graduate and undergraduate students
• Funding is limited

*SEP may be an alternative for those not awarded FWS or who do not meet FWS requirements.

Federal Perkins Loan

• Loan: must be repaid
• Awarded to undergraduate and graduate students
• Interest rate: 5%
• Award limits for the 10/11 academic year is $200-$3,000
• Awarded fall and spring

Subsidized Federal Direct Loan

• Loan: must be repaid
• Must have financial need
• Must be enrolled at least half-time  (6 credits)
• U.S. Dept. of Education pays interest while borrower is enrolled on at least a half-time basis
• Fixed interest rate of 4.5%
• Loan amounts $3,500-$8,500 (depending on grade level)
• Awarded fall, spring and/or summer (if eligibility permits)

Unsubsidized Federal Direct Loan

• Loan: must be repaid
• Must be enrolled at least half-time
• Borrower is responsible for interest during the life of the loan
• Fixed interest rate of 6.8%
• Loan amounts $3,500-$20,500 (depending on grade level and dependency status)
• Awarded fall, spring and/or summer (if eligibility permits)

Federal Direct PLUS Loan

• Loan: must be repaid
• Based on creditworthiness
• Parents may borrow for their dependent undergraduate student
• Graduate students may borrow
• Must be enrolled at least half-time
• Loan is unsubsidized; borrower is responsible for interest during the life of the loan
• Maximum amount you may borrow is the cost of attendance minus any financial aid the student receives
• Interest rate: 7.9%
• Awarded fall, spring and/or summer