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Federal Programs

 
 

Federal Pell Grant Program

The Federal Pell Grant Program provides grants to help undergraduate and Teacher Credential students, with financial need, meet the costs of post-secondary education.  To receive Pell Grants, students must complete the Free Application for Federal Student Aid (FAFSA) and demonstrate financial need.  All Federal Pell Grants are gift aid awards and do not have to be repaid.

Once you have received a Pell Grant for 12 semesters, or the equivalent, you will no longer be eligible for additional Pell Grants. Equivalency is calculated by adding together the percentage of your Pell eligibility that you received each year to determine whether the total amount exceeds 600%. If you have exceeded the 600% maximum, you will lose eligibility for additional Pell Grants beginning in the 2012–2013 school year.

For example, if your maximum Pell Grant award amount for the 2010–2011 school year was $5,550, but you only received $2,775, you would have used 50% of your maximum award for that year. If you then receive 75% of your eligibility in the next year, the total received in two years would be 125% out of the total 600% lifetime limit.

FSEOG is a campus-based program that awards grants to undergraduate students to help pay for the costs of post-secondary education.  To qualify, students must submit a completed FAFSA and demonstrate exceptional financial need.  Award amounts are to be determined by the Financial Aid Office according to NHU’s packaging policy and available funds.  FSEOG is a gift aid award and does not have to be repaid.

FWS is a campus-based program that provides job opportunities, both on and off campus, to financial aid eligible students as an aid to meeting the costs of post-secondary education. Students qualify by submitting a complete FAFSA and by being hired by a FWS employer.  Award amount is based on need and determined according to NHU’s packaging policy and available funds.  FWS is a self-help aid, and does not need to be repaid.

Federal Direct Loans

Federal Direct Loans are available to both graduate and undergraduate students. Students must be enrolled at least half-time to receive a Direct Loan. Federal Direct Loans borrowed at a prior institution may impact a student’s loan eligibility at National Hispanic University.

Federal Direct Subsidized Loans are available to undergraduate students with financial need. The federal government pays the interest on this loan while the student is enrolled at least half time in school.

Federal Direct Unsubsidized Loans are available to undergraduate and graduate students. These loans require that the student pay the interest while enrolled, unless the student arranges to postpone the interest payment by checking the appropriate box indicated on the promissory note. Students should be careful when choosing this option: It means that the interest will be capitalized (the accrued interest will be added to the principal amount), and that will increase the amount of the debt.

Both the subsidized and unsubsidized loans have default fees deducted from each disbursement of the loan.

Students typically have a 6 month repayment grace period after graduating, leaving school, or dropping below half-time status. After this time, payments must be made. Payments are usually due on a monthly basis.

Creditworthiness is not a requirement to obtain a Direct Loan. Under this program, students may borrow up to their maximum loan limit every award year (i.e. 12 months for semester-based programs). Loan funds can be used to cover direct education costs such as tuition and fees, room and board, as well as indirect costs such as travel to and from school, books, and other education-related expenses.

Please note changes to the Federal Direct Loan:

Interest subsidies for subsidized loans have been eliminated. Direct subsidized loans will not be eligible for an interest subsidy during the six-month grace period.

Graduate students are no longer eligible to receive subsidized loans.

  • Effective for loans made for loan periods that begin on or after July 1, 2012, graduate students are no longer eligible to receive subsidized loans. However, if you are a graduate or professional student, you may still qualify for up to $20,500 in unsubsidized loans each award year.

The U.S. Department of Education can no longer offer borrowers repayment incentives.

  • Effective for loans first disbursed on or after July 1, 2012, the Department of Education is prohibited from offering any repayment incentives to Federal Direct Loan borrowers. Incentives include upfront interest rebates, reduced interest rates, and reduced origination fees. However, interest rate reductions to borrowers who agree to have payments automatically electronically debited from their bank account are allowed.

You may also visit Student Aid on the Web to learn about these changes.


 
 
 
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