The Federal Supplemental Educational Opportunity Grant (FSEOG) is a form of gift assistance supplemental to the Federal Pell Grant. FSEOG provides grant assistance to make available the benefits of post-secondary education to qualified students who demonstrate financial need. Applicants must complete the FAFSA to determine eligibility for this grant.
The TEACH Grant Program is a non-need based program that provides up to $4,000 per year to students enrolled in an eligible program and who agree to teach as a highly-qualified full-time teacher at a federally designated low-income (Title I) school and teach in a specified high-need field, at a low income elementary or secondary school for at least four years within eight years of completing the program for which TEACH Grant was awarded. Eligible undergraduate students may not receive more than $16,000 and graduate students may receive no more than $8,000 in total TEACH Grants. TEACH Grant recipients who do not fulfill their teaching obligations must repay the grant as if it was an unsubsidized Direct Loan, with interest accruing from the date the grant was disbursed. Additional information about the program can be found at:
http://www.studentaid.ed.gov/PORTALSWebApp/students/english/TEACH.jsp
Kentucky State University provides Perkins Loan assistance to eligible students who have established financial need. These loans carry an annual 5 percent simple interest charge, and the payment begins six or nine months after graduation or if the borrower ceases to be enrolled on at least a half-time basis. This is a federally-funded, low interest loan, and legal action will be taken if repayment is not made as agreed to by the student. The FAFSA must be filed in order to determine eligibility for this loan.
Also called Direct Subsidized Loans: The federal government pays the interest on these loans while students are in school at least half-time and during grace period prior to entering into repayment. Students must demonstrate financial need to receive this type of loan. (Financial Aid determines need based on the information provided on the Student Aid Report).
Also called Direct Unsubsidized Loans: Students can get these loans regardless of financial need, but will have to pay all interest charges. Interest may be capitalized while in-school and during grace period prior to entering into repayment.
Must be completed by all direct loan borrowers. It is a legally binding contract between the U.S. Department of Education (lender) and a borrower. The promissory note contains the terms and conditions of the loan, including how and when the loan must be repaid. One Master Promissory Note (MPN) covers both the Federal Direct Subsidized and the Federal Direct Unsubsidized Loans. The amount of subsidized and/or unsubsidized loan does not show on the MPN but will be included in the most recent financial aid award notification from the Office of Financial Aid. A disclosure statement from the common origination and disbursement center will be sent to the borrower. This statement will provide comprehensive information about the types of loans that were processed by the school, including both direct subsidized and/or direct unsubsidized loans, the loan period, and the anticipated disbursements. It is important for the student to remember that he/she will be responsible to repay only the loans he/she actually receives at the school.
For parents or dependent students to pay for their children's education. Parents are responsible for all interest charges. In order to apply, a parent must complete a PLUS Loan Request form, and the Federal PLUS Application and Master Promissory Note (MPN) at www.studentloans.gov. The parent will be notified if he/she is eligible for the PLUS loan. Generally, the parent is eligible if he/she does not have an adverse credit history (a credit check will be done), is not in default on a federal student loan (including Federal PLUS loans), and meets the other eligibility requirements outlined on the loan application. The interest rate is variable and is adjusted each year on July 1, but is currently capped at nine (9) percent. The interest begins to accumulate on the date
The University