FEDERAL STUDENT AID GRANTS AND LOANS

Federal Pell Grant (FPELL)

Unlike a loan, does not have to be repaid. Pell Grants are awarded to undergraduate students who have not earned a bachelors or professional degree. Federal Pell Grants provide a foundation of financial aid to which other aid may be added.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The FSEOG program is for undergraduate students with exceptional financial need. This grant is usually awarded to students who are eligible for the Federal Pell Grant. FSEOG, however, is awarded depending on the availability of funds.

Federal Work-Study Program (FWS)

The Federal Work Study program is used to provide part-time employment to undergraduate students who qualify. You must be enrolled at least half-time (six-semester hours) to participate in this program. Positions will be primarily on campus assignments. Off campus assignments may be made for community service employment activities. FWS is also awarded based on fund availability.

The Subsidized Federal Stafford Loan (FSL)

The Federal Subsidized Safford Loan is a need based loan. If you qualify, the government pays the lender the interest due on the loan while you are in school and during your grace and deferment periods.

The Un-Subsidized Federal Stafford Loan (FUSL)

The Federal Unsubsidized Stafford Loan is a non-need based educational loan. Unlike subsidized loans, the Federal government does not pay interest on unsubsidized loan during in school, grace and deferment periods. You are responsible for all interest that accrues on an unsubsidized Federal Stafford Loan.

Federal Parent Loan for Undergraduate Students (FPLUS)

The Federal PLUS Loans is made to parents or legal guardians with dependent undergraduate students who need financial assistance for their children's' education. The amount that the parent may borrow is determined by the cost of education per child, minus other financial aid.

Note: Loans are made to students who are enrolled at least half-time (six semester hours). Half-time enrollment status must be maintained at each loan check disbursement. These loans are made by lender such as banks and credit unions. Students who are interested in a loan must complete a separate Stafford Loan Application. Loans are guaranteed through the Texas Guaranteed Student Loan Corporation. Also, loan applicants must compete the Free Application for Federal Student Aid, and attend an Entrance Loan Counseling Session. Loan recipients must attend an Exit Loan Counseling Session prior to leaving HCCS.