A brief summary of available financial aid and typical dollar amounts are shown below. A more complete description can be found in the School's Consumer Information Brochure or online.
Federal Pell Grants: As with most federally funded programs, Pell Grants are awarded on the basis of financial need. The money comes from the U. S. Department of Education. The maximum amount varies from year to year and student eligibility also is quite variable. The government operates on a fiscal year basis beginning July 1 and ending June 30. If you attend in more than one fiscal year you could be eligible for more than one grant.
Federal Supplemental Education Opportunity Grants: SEOG dollars are limited and are awarded normally to students who have an Expected Family Contribution of zero. SEOG's are $400 to $4,000.
Federal Direct Loans: These are low-interest, long-term loans. The interest rate is approximately 4.66% (as of June 25, 2014). There are two types of Stafford loans. Subsidized Stafford's are for needy student and repayment begins six months after the student leaves school; Un-subsidized Staffords call for repayment to start two months after the loan is granted, however you may request capitalization of the interest while you are in school so payments do not start until after you graduate.
Federal Parental Loans to Undergraduate Students (PLUS Loans): Parents of dependent students may apply for this loan. Terms are very similar to the un-subsidized Stafford loan.
Hope Scholarships: A student or a student's parents may claim a tax credit of $1500 when they file their tax turn. Note that it is a direct reduction, dollar for dollar, of the taxes you would have paid. It is like a grant that arrives April 15!
State Vocational Rehabilitation Aid: Individuals with disabilities may be eligible for this aid under the Vocational Rehabilitation Act as determined by the Iowa Vocational Rehabilitation Agency. The School can help an applicant get in touch with the proper authority.
Veterans' Benefits: Veterans' benefits are available to qualified veterans. The amount of assistance is based upon the V.A. program the veteran falls under and his or her family size.
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