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TYPES OF FINANCIAL AID

Federal Pell Grants

Federal Pell Grants provide direct grants from the government to an undergraduate student for educational expenses. Grants range in size from $400 to a maximum of $4,731 per year and amounts are subject to change. Apply for Financial Aid

Academic Competiveness Grant (ACG)

Grants awarded to students who have completed a rigorous secondary school program and our eligible for Pell Grant. Students eligible for ACG will receive $750 for the first academic year of study and $1,300 for the second academic year of study.

Federal Supplemental Education Opportunity Grant (FSEOG)

FSEOG is a program designed to assist students who have exceptionally high financial need. The college determines who is eligible and how much each grant will be. Students with Pell Grant eligibility and low estimated family contribution (EFC) will be given priority. The FAFSA is used to determine eligibility.

Leveraging Education and Assistance Partnership Program (LEAPP)

LEAPP is funded jointly by the Idaho State Board of Education and the Federal Government. LEAPP is a grant that does not have to be repaid and is awarded to students who demonstrate exceptional financial need. Awards vary depending on availability of funding and your demonstrated financial need. The FAFSA is used to determine eligibility. The student must be an Idaho resident.

Work-Study

Federal and Atwell Parry Work-Study are awarded to students who demonstrate financial need and want to work while attending college. The work-study program provides on-campus jobs for students and allows you to earn up to a specific dollar award. You will earn at least federal minimum wage and be paid by the hour. You may work up to 20 clock hours per week. For more information please visit college work-study.

Federal Family Education Loan Program (FFELP) and Stafford Student Loan Program (SSL)

SSL provides students with long-term, low-interest loans for post-secondary education expenses. Loan funds are provided by participating private lending institutions such as banks, credit unions, savings and loan associations, and some other private organizations. Stafford Student Loans currently bear a variable interest rate. The rate will never be more than 8.25 percent annually on the unpaid balance.
Repayment, at a minimum of $50 per month, begins after the student leaves school and exhausts the six month grace period. Depending upon the total amount borrowed, repayment may be extended over a ten-year period. Up to $3,500 for freshman and $4,500 for sophomore may be borrowed per year.
The FFELP provides for two types of student loans: (1) Subsidized and (2) Unsubsidized.

To be eligible for a Subsidized loan you must demonstrate financial need and be enrolled at least half-time (6 or more credits). The Federal government currently pays the interest on the Subsidized loan until you are required to begin repayment six months after you graduate or drop below half-time enrollment. The maximum interest rate for the Subsidized loan is 8.25 percent, and is adjusted each year on July 1st.

You do not have to demonstrate financial need to receive an Unsubsidized Loan, but you must complete the FAFSA, be enrolled at least half-time, and complete a Request for Additional Loan. The Federal Government will not pay the interest on an Unsubsidized Loan, and interest will be charged until the loan is fully repaid. The maximum interest rate for the Unsubsidized Loan is 8.25 percent, and is adjusted each year on July 1st. You do, however, have the option of capitalizing the interest and not paying anything until six months after you graduate or drop below half-time enrollment. If you choose this option, the interest will be added to the principal balance for your loan.

Should a student choose to borrow a Federal Stafford Student Loan, they will be required to complete a promissory note. In addition, loan applicants must participate in a loan counseling presentation on campus as well as complete entrance counseling online. Your loan will be disbursed in two disbursements, regardless of your loan period. A fee of up to 3 percent of your loan amount will be deducted equally from each disbursement of your loan.

Students who have not attended EITC and who have not yet had a student loan will be required to wait 30 days from the 1st day of class to receive their first loan disbursement.

Student loan borrowers will also be expected to complete an on-campus exit counseling activity in addition to online exit counseling prior to graduation or withdrawal.

More Loan Information

To learn how to apply for any of the aid listed above, visit Apply for Financial Aid.

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