Federal Financial Aid Programs

Federal Financial Aid Programs

Students must meet the following requirements to be considered for any federal financial aid programs:

• Have a high school diploma or a General Educational Development (GED) certificate
• Be a U.S. citizen or an eligible non-citizen
• Have a valid social security card without restrictions
• Maintain satisfactory academic progress, as described in this handbook
• Must be enrolled as a matriculated student (degree seeking) in an eligible degree or certificate program

Federal Pell Grants

Federal Pell grants are available to undergraduate students who have not earned a bachelor’s or professional degree. Pell grants are awarded to students who demonstrate financial need according to the federal guidelines. The amount of the grant is determined by the student’s SAI.

Federal Supplemental Educational Opportunity Grant (FSEOG)

Federal SEOG is a grant awarded to undergraduates with exceptional financial need. 

Federal Direct Loan Program

Federal Direct loans are available to students enrolled at least half time. Eligibility for the subsidized loan pertains only to undergraduate students and is based on financial need as determined by the FAFSA.

Students who do not qualify for a subsidized loan will still be able to borrow an unsubsidized loan in which the interest is either added to the loan principal or repaid during in-school periods. The amount of the approved loan will not exceed the cost of attendance less any other aid.

The following table provides the fixed interest rates for Direct Loans made on or after July 1, 2024, and before July 1, 2025. 

Undergraduates

Graduate or Professional Students

Parents and Graduate or Professional Students

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Repayment of the principal begins six months after graduation, withdrawal, or change to less than half-time status. Interest repayment begins the same time as the principal for subsidized loans. Interest on the unsubsidized loans is paid during enrollment unless capitalized by the lender at the student’s request.

The Higher Education Amendments of 1999 require that universities must conduct entrance and exit interviews for all students borrowing from the Federal DL loan programs. Entrance counseling is conducted online at www.studentaid.gov prior to the crediting of the first student loan. Prior to graduation or withdrawal from the university, all federal loan borrowers must complete exit counseling online at www.studentaid.gov.  If you withdraw, take a leave of absence, or stop attending and borrowed from the Federal Direct Loan Program while attending Saint Elizabeth University, you must complete exit counseling before we can release your academic transcript or diploma.

Federal Direct Parent Loan (PLUS)

PLUS loans are available to parents of dependent undergraduate students and to graduate students to meet educational expenses. The amount of the PLUS loan cannot exceed the cost of attendance minus any other financial aid. Eligibility for the PLUS loan program is based on the credit-worthiness of the borrower. The interest rate is fixed for the academic year. PLUS loans proceeds are sent in two disbursements directly to the school.

Federal Work Study (FWS)

The Federal Work Study Program is available to undergraduate students who demonstrate financial need. Due to limited funding, the Financial Aid Office cannot guarantee work-study for all eligible students.