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Types of Financial Aid
I. Federal Title IV Programs
Financial Aid is awarded by the financial aid office at the college or colleges to which the student
applies. Based on the information given on the Free Application for
Federal Student Aid (FAFSA), the student and his family is assigned an amount
called "The Expected Family
Contribution". This amount helps the college officer determine the financial need a student
will have to attend college at their particular institution. This indicator helps each college in their
decision to award Federal Title IV Aid. Federal Title IV programs include:
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A. Federal Grants
Pell Grant: money awarded to students based on need and enrollment status. Some schools
may grant Pell aid to students enrolled less than half-time. Award determination is made by the
financial aid officer at each school using the Expected Family Contribution to calculate the
student's need. Awards may vary from school to school. Pell money does not have to be repaid.
Academic Competitiveness Grant (ACG): money awarded to full-time students in their first and
second years of college. Must be eligible for the Pell Grant and meet additional requirements to
qualify. Some requirements include completing a "rigorous" secondary school program and maintaining
last least a cumulative 3.0 GPA on a 4.0 scale while in college. ACG money does not have to be
repaid.
National Science and Mathematics Access to Retain Talent Grant (SMART): money awarded to full-time students in their third and fourth years of
college majoring in Computer Science, Engineering, Critical Foreign Languages,
Life Sciences, Mathematics, Physical Sciences, Technology, or Multidisciplinary.
Must be eligible for the Pell Grant, maintaining last least a cumulative
3.0 GPA on a 4.0 scale while in college and meet additional requirements
to qualify. SMART money does not have to be repaid.
B. Campus-Based Aid:
Federal Perkins Loan: a low interest loan
(current interest rate is 5%) made directly by the school and is repaid to the school.
- Limit for undergraduate student is $5,500 per year, with an aggregate (total
undergraduate) limit of $27,500.
- Limit for graduate student is $8,000 per year, with an aggregate limit
of $60,000.
Work-Study Program: Work is provided on or off campus for students showing need. Students
are paid for work completed. If you are interested in work-study, check
with the school's financial aid office to see if you qualify.
Federal Supplemental Educational Opportunity Grant (SEOG): money awarded to students
with the greatest financial need. Priority for SEOG is given to students that already qualify
for the Pell Grant. Amounts vary depending on available funds at the institution. SEOG funds do
not have to be repaid.
C. Federal Family Educational Loan Program (FFELP):
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II. State and other Federal aid programs:
- ND State Grant (maximum $600) Granted through ND
University Systems (701-328-4114). Students
apply for the ND State grant using the FAFSA application
- Robert C. Byrd Honors Scholarship Program (apply through the Department
of Public Instruction 701-328-2271)
- Veteran's Education Benefits
- Tribal Higher Education Assistance
- Vocational Rehabilitation (701-328-8800)
- Aid to Families with Dependent Children (AFDC/ADC). Check with Dept. of
Health, Education & Welfare
- Workforce Investment Act (apply through Job Service of ND at 701-328-5031)
- North Dakota Scholars Program (apply through ND University System at 701-328-4114)
- North Dakota Indian Scholarship Program (apply through ND University System
at 701-328-4114)
- North Dakota SSIG (State Student Incentive Grant). Students apply for the
ND State grant using the FAFSA application
III. Private Aid through Educational Institutions:
Students should apply for these programs at each individual college, trade school, or institution of
higher education.
IV. Private aid in local communities:
- Service Organizations
- Churches
- Businesses
- Associations (both local and national)
- Dollars for Scholars
- Parent's employers
V. Foundations, National Companies, Unions:
- Contact companies that may be interested in employing students after graduation.
- Unions that are associated with the field of study the student is pursuing, or Foundations
offering grants.
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