Grants: Federal aid that does not have to be repaid

Federal Pell Grant - The Federal Pell Grant is a need-based grant from the federal government intended for undergraduate students who have not earned a bachelor's degree. After the Free Application for Federal Student Aid (FAFSA) is filed, the Department of Education sends you a Student Aid Report (SAR) or an Information Acknowledgement if you filed online. These documents will indicate if you are Pell eligible and it is important to review them for accuracy.

Federal Supplemental Educational Opportunity Grant (FSEOG) - The Federal Supplemental Educational Opportunity Grant is awarded to undergraduate students with exceptional financial need and is administered by FPU Student Financial Services. Funds are limited and eligibility is based in part by meeting the FPU priority FAFSA submission deadline of March 2nd. 

Earned aid: Awarded to the student but earned through employment

Federal College Work-Study Program (FWS) - The Federal Work-Study (FWS) program provides part- time jobs for students with financial need to help them pay for their education. It's designed to put you to work in the community or in a job related to your studies, whenever possible. The program is administered by FPU Student Financial Services. Funds are limited and eligibility is based on need and in part by meeting the FPU priority FAFSA submission deadline of March 2. The amount of FWS indicated on your award is the maximum amount you may earn for the academic year. Funds are paid monthly on the basis of hours worked in the pay period not to exceed 20 hours per week.

Loans: Federal aid that must be repaid

Federal Direct Ford Loan Program - Direct Stafford Loans, from the William D. Ford Federal Direct Loan {Direct Loan) Program, are low-interest loans for eligible students to help cover the cost of higher education. Eligible students borrow directly from the U.S. Department of Education {the Department) at participating schools. The maximum yearly amount for any combination of Direct Subsidized and Unsubsidized Stafford/Ford Loan is set by the federal government.

Important Changes to the Federal Direct Loan Program-Federal Student Loan Interest Rates have changed effective July 1, 2014. Interest rates on student loans are now tied to the 10-year Treasury note plus 2.05 percentage points for undergraduates, and 3.6 percentage points for graduate student loans. Parent and Grad PLUS loans are at plus 4.6 percentage points. These rates will vary on a yearly basis based on the legislation that was passed. Current interest rates are listed in the Federal Loan Details chart below.

The Subsidized Federal Direct Ford Loan is need-based with the government paying the interest on the loan while the student is enrolled. Effective July 1, 2013 there will be a limit on the amount of time that a student is allowed to borrow subsidized loan funds which will be tied to their program length. Students that exceed 150% of their program length will no longer be eligible to receive subsidized loan funds, regardless of any extensions granted based on the Satisfactory Academic Progress appeal process through Student Financial Services. For a standard program 270 credits is the limit. For more information on Maximum Timeframe standards, please visit our Satisfactory Academic Progress policy.

The Unsubsidized Federal Direct Ford Loan is non-need-based with the student being responsible for paying the interest while enrolled. Students may choose to defer the interest by having it added to the principal, which is called capitalization.

Federal Direct Parent PLUS Loan - The PLUS is a federal loan borrowed by the parent on behalf of a dependent student to assist with educational expenses. Students are awarded the maximum amount they are personally eligible to receive, after which PLUS loans are automatically offered to the parents of dependent students to meet the cost of attendance. As with all loans, you are not required to take it. Parents are required to complete a FAFSA application to be eligible for a Direct PLUS Loan, and the parent must complete a Direct PLUS Loan Application and Master Promissory Note (MPN) on the Federal Loan website. The PLUS is a non-need based loan and payment can be deferred while the student is attending school at least half-time, but interest will continue to accrue.

* Important note about Parent PLUS loan applications: The PLUS loan application will not be available for 2014-2015 until May 2014. If you attempt to apply prior to that date you will be told that FPU does not participate in the program. Rest assured, FPU does participate in the Federal Direct Parent PLUS loan program. Applications for parent PLUS loan requires a credit check each time the parent applies for the loan and is only valid for 90 days. Applying too early may cause delays with processing and disbursements. Students can review their file status by logging into their ONID account.

Federal Direct Graduate PLUS Loan - The Grad PLUS is a federal loan offered to graduate and professional students in addition to Direct Loan eligibility to help cover education expenses. You are required to complete a FAFSA application to be eligible for a Direct Grad PLUS Loan, and the parent must complete a Direct PLUS Loan Application and Master Promissory Note (MPN) on the Federal Loan website. The PLUS is a non-need based loan and payment can be deferred while you are attending school at least half-time, but interest will continue to accrue.

The U.S. Department of Education has authorized Fresno Pacific University to administer federal loan programs under Title IV funding.