Grants And Work Study
Grants and Work-Study: There are two types of Federal Student Aid that students are not required to pay back: grants and work-study programs. Grants are sums of money that students receive to help cover the costs of education, and work-study is a program whereby students earn money by working part-time while in school. These two types of aid form the basis of financial aid for many students.
Two different types of grants are available to eligible students: Federal Pell Grants and Federal Supplemental Educational Opportunity Grants (FSEOGs). Both of these grants are awarded only on the basis of need and do not have to by paid back. Pell Grants are the backbone of Federal Student Aid and are usually awarded to undergraduate students only. Some students enrolled in post-baccalaureate teacher certificate programs may receive Pell Grants. Pell Grant awards can range from $400 to $4,000, depending on your Expected Family Contribution (EFC), your cost of attendance, full-time or part-time status, and whether you attend school for a full academic year. Each student is limited to one Pell Grant per academic year and one school from which they can receive a Pell Grant.
Students who demonstrate a higher financial need than most other students may be eligible for another type of grant, a Federal Supplemental Educational Opportunity Grant (FSEOG). This means your EFC must be in the lowest bracket, and you will receive priority if you have already been awarded a Federal Pell Grant. FSEOGs can range from $100 to $4,000 per year, depending on the date your application is received, your financial need, the funding level of the school you will be attending, and your school's financial aid policies.
Students who are determined eligible for Pell Grants receive the full amount they are approved for. However, FSEOGs are different because the amount students receive depends on the amounts of other aid they receive as well as their financial need. Students who receive other types of aid may end up with lower FSEOG amounts awarded to them. Students who receive Federal Pell Grants and/or FSEOGs receive their awards in a number of different ways. You may receive a check, your school may directly credit the funds to your tuition, or your school may credit the funds to your bank account.
Federal Work-Study provides students the opportunity to work while attending school. The program gives participating schools a certain amount of funds to be spent on hiring students for work-study positions. These jobs may be provided to both undergraduate and graduate students and are administered by the participating schools. They may be on-campus or off-campus and are often community service-related or related to the student's studies. Off-campus jobs must be in the public interest and are usually offered by nonprofit organizations or government agencies.
Work-study jobs pay at least the Federal minimum wage, but the wage could be higher depending on the nature of the work. Undergraduate students are paid by the hour, and graduate students are paid either by the hour or on a salary basis. Schools are required to pay students at least once per month. Your total work-study award is based on several factors, including the date of our application, level of need, and level of school funding. Early applicants have a much better chance of receiving Federal Work-Study funds.
