Financial Aid awards generally consist of a combination of three types of assistance: Scholarships and Grants, Federal Loans, and Federal Work Study.

Scholarships and Grants

These awards are available from various sources including the College, it's alumnae and other benefactors, and the federal and state governments. Scholarships and grants are either need or merit based. The College suggests that students search for outside scholarships using Fastweb at http://fastweb.com

Loans

Perkins Loans - The Federal Perkins loan program offers low interest (five per cent) loans to students with exceptional financial need. Interest is subsidized by the federal government while the student is in attendance on at least a half time basis. Principal payments begin nine months after the student graduates or drops below half-time attendance in school.

Stafford Loans - Low interest student loans. The current interest rate on Staffords is 3.46%. Subsidized Stafford loans are based on financial need. The government pays the interest on the loan while the student is in school at least halftime. Students who do not qualify for need-based assistance will be offered an unsubsidized Stafford loan. Under the unsubsidized program, students are responsible for paying the quarterly interest on the loan while they are in attendance in school. These interest payments can be deferred if the student is unable to make the payments while enrolled.

PLUS - The Federal PLUS (Parent Loan to Undergraduate Students) is available to parents of full and half time dependent students. Parents may borrow up to the full cost of education minus any other financial aid received. The loan is also available to families who do not qualify for need-based financial aid. The interest rate is currently 4.86%. Repayment begins within 60 days of disbursement of the funds.

Federal Work Study

The Federal Work Study program provides jobs for students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student's course of study.

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