Federal Programs

• Federal Pell Grant: A need-based grant for undergraduate students that does not have to be paid back. Federal Pell Grants are available to full-time, half-time, and less than half-time students. Federal regulations require that students seeking any form of federally funded financial aid first apply and be considered for a Federal Pell Grant before any other type of award can be made. Federal Pell Grants are for the first undergraduate degree only.

• Eligibility:
  
• Must apply to the federal processors using the FAFSA and undergo formal review by the BCC Financial Aid Office .
• Must be a matriculated student.
• May not already have received a baccalaureate degree.
• Must maintain satisfactory academic progress.
• Must be registered for three (3) or more credit hours
• Must be a U.S. citizen or permanent resident.
• Must not be in default on a student loan or owe a refund on a federal grant.
• Must be registered with the Selective Service if male and over 18.
• Federal Supplemental Educational Opportunity Grant (SEOG): An award for undergraduate students with the highest financial need that varies according to students' need and the level of federal funds available. SEOG is a grant that does not have to be paid back. Students awarded SEOG must already be eligible for and awarded a Federal Pell Grant.

• Eligibility:
  
• Same eligibility criteria as the Federal Pell Grant.
• Must be registered for a minimum of six (6) credit hours.
• Must already be awarded a Federal Pell Grant.
• Not available for summer terms.

Federal Loan Programs

• Federal Perkins Loan: A need-based, low-interest loan available to undergraduate students enrolled at least half-time. The amount of the loan depends upon financial need and available federal funds. The school acts as the lender.

• Federal Stafford Loan: A low-interest, need-based, federally subsidized loan for undergraduate students, registered at least half-time, made by local lenders in conjunction with the a State Guarantee Agency and backed by the Department of Education. The federal government assumes responsibility for interest payments while the student is in school. These loans have federal limits and may not exceed the cost of attendance minus family contribution minus any other financial aid or resources. Federal loan limits are: $2,625 for freshmen; $3,500 for sophomores; $5,500 each for juniors and seniors; and $8,500 per year for graduate students.

• Federal Unsubsidized Stafford Loans: A loan program with the same terms, conditions, and interest rates as the Federal Stafford Loan program, except that the undergraduate or graduate student borrower assumes responsibility for payment of the accrued interest while in school and during the loan period. This loan program is available to students who do not qualify, or qualify only in part, for a Federal Stafford Loan up to the federal loan limits. For dependent students supported by their parents, the combined total of the subsidized and unsubsidized loans may not exceed the subsidized loan limits noted above. Independent students are eligible for amounts equal to the Stafford loan limits plus additional amounts of $4,000 per academic year for freshmen and sophomores; $5,000 each for juniors and seniors; and $10,000 per academic year for graduate students.

• Federal PLUS Loan: A parental loan established for parents of undergraduate dependent students. These loans are limited to the cost of attendance minus other financial aid and resources for which the student is eligible. As the other federal financial aid programs carry more favorable terms, students therefore are encouraged to apply for and be considered for all other student grants and loans first. Parent borrowers must undergo a credit check by the lender and have no adverse credit history before a Federal PLUS loan can be processed.

  If you wish to return to the Financail Aid Homepage here.