Grants are forms of financial aid that do not have to be repaid. Generally, grants are for undergraduate students and the grant amount is based on need, school cost, and enrollment status.
Federal Pell Grant
A federal grant program, Pell Grants ranging from $657 to $6,195 for the 2020-2021 academic year are available to eligible students. The amount of an individual student's grant depends upon the student's financial need, cost of attendance, and enrollment status. Awards are limited to the 1st undergraduate degree. The Federal Pell Grant is prorated based on the number of enrolled credit hours.
Federal Supplemental Educational Opportunity Grants (FSEOG)
A federal grant ranging from $100 to $4000 per academic year and is awarded to students with exceptional financial need. A student with exceptional financial need is determined as one who qualifies for Pell Grant funds. Funds for this program are limited. Awards are made on a first come first served basis.
Ohio College Opportunity Grant (OCOG)
A state-funded grant offered per academic year and is available to Ohio residents who demonstrate financial need. A student with exceptional financial need is determined as one who qualifies for Pell Grant funds. Funds for this program are limited. The grant is also prorated based on full or part-time enrollment status.
Grants and scholarships are automatically accepted. If you want to decline grants or scholarships, contact the Financial Aid office via email: email@example.com
Federal Direct Loans
A subsidized loan is awarded on the basis of financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods.
An unsubsidized loan is not awarded on the basis of need. You'll be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate while you are in school or during other periods of nonpayment, it will be capitalized-that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount.
Federal Direct PLUS Loans
PLUS Loans enable parents who do not have an adverse credit history to borrow to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half time.
Veterans' Educational Benefits
A program of national and community service that can help put you through college.
There are many ways to pay for higher education, and choosing the right approach requires a good understanding of your options, your responsibilities, and the various details of each lender's loan products.
It's a lot to keep in mind. FASTChoice makes it easy by providing you with simple but critical information about types of funding and money management. It also clearly presents your new responsibilities if you go on to borrow money. And finally, FASTChoice presents you with a collection of loan products in a way that makes it easy to understand and compare them.
The Teacher Education Assistance for College and Higher Education Grant (TEACH)
A federal funded grant the Teacher Education Assistance for College and Higher Education Grant Program provides up to $4,000 per year in grants for undergraduate students in specified majors who intend to teach full-time in high-need subject areas for at least four years at schools classified as serving low-income students. For students who do not complete the service obligations associated with the program, this grant will be converted to a Direct Unsubsidized loan.
While students intending to teach can benefit from this grant money, accepting TEACH is unlike other grant programs.
Failure to meet all service provisions in full will result in all TEACH Grant funds being permanently converted to a loan with interest calculated to when the grant was received.
To receive a TEACH Grant, students must: