| |
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 from $890 to $4,731. |
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 Academic Competitiveness Grant |
Grant assistance for students who have completed rigorous high school coursework. First-year students are eligible for $750 and second-year students are eligible for $1,300. |
Students who are Federal Pell Grant eligible, are
enrolled full-time, have completed rigorous high
school coursework and completed high school
after January 1, 2006, for the first year or January
1, 2005, for the second year. Second year students
must also meet the GPA requirement of 3.0 and
have completed a total of 24 credit hours. |
No. This is gift aid and does not have to
be repaid. |
| Federal Teacher
Education Assistance for College and Higher Education (TEACH) Grant |
Grant assistance for students who intend
to teach in a public or private elementary or
secondary school that serves students from low income
families. Maximum amount per year is $4,000. |
Students who file the FAFSA, have met the
academic achievement requirements and sign a TEACH Grant Agreement to Serve. |
This grant does not need to be repaid
IF the required teaching service is completed; if not completed, this will need to be repaid as an unsubsidized loan. |
| Federal Supplemental Educational Opportunity Grant (FSEOG)* |
Grant assistance for undergraduate students,
with priority given to Federal Pell Grant
recipients. Annual awards may range from
$250 to $500. Students must be enrolled in a
minimum of six credits for each of the Fall and Spring terms. |
Students who file FAFSA 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 Tuition 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. Award amounts are based on the number
of credits in which the student is enrolled. |
Iowa Grant: Students who show high
financial need and are Iowa residents. (Limited)
IVT: Students who show financial need, have an
expected family contribution between $601 and
$5,000, and meet the July 1 deadline date may
be eligible. |
No. This is gift aid and does not have to
be repaid. |
| Scholarships* |
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 by
April 1. |
| Federal College Work-Study* |
Part-time employment during the academic year.
Jobs are located on- or off-campus. Students
must seek their own employment through job
information online or the Student Employment
Assistance Office. Wages are $8 per hour.
Annual awards may range from $500 and up. [More information]
|
Students who show need for assistance. |
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
fixed interest rate that is lower than commercial
rates.* Annual limits range from $3,500 to
$4,500 for dependent students and $7,500 to
$8,500 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 dropping below half-time.
|
Federal Unsubsidized: Students enrolled at least half-time.
Additional Unsubsidized: Independent
students enrolled at least half-time, up to $4,000.
After July 1, 2008 both Independent and Dependent students may request an additonal $2,000 more in Unsubsidized Student Loans. |
Yes. Interest is charged from the time
student receives their loan until paid in
full. Repayment begins six months after
termination of studies or dropping below
half-time. |
| PLUS: Parents with good credit. |
Yes. Repayment begins immediately. |
| Alternative
Loans |
Loans that are available for additional assistance
after Ford Federal Direct Loans are utilized.
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. |
Information on Alternative Loans |
Yes. Repayment options available through lender. |
Financial Aid Programs Available to DMACC Students