Federal Financial Aid
The U.S. Department of Education, through Title IV of the Higher Education Act, provides students with excellent resources to fund their education. Briarcliffe College participates in a variety of these programs and ensures all eligible students have equal access to federal financial aid. Financial aid is available for those who qualify.
You may access the Department of Education's Funding page and gain a more detailed understanding of student financial aid programs. Below is a brief summary of the Title IV programs in which Briarcliffe participates:
Federal Pell Grant
Description: Grants are free money, that is, they do not need to be paid back. The Pell grant program is designed to assist needy undergraduate students who desire to continue their education beyond high school. All students are encouraged to apply through the FAFSA. Eligibility is determined by a standard federal formula which includes family size, income and resources to determine need.
How much can I get? The maximum amount of Pell Grant (for those who qualify) depends on program funding and may change each award year (July 1st - June 30th). The amount a student may receive depends on financial need, cost to attend school, enrollment status and the number of terms/payment periods attended.
| Federal Pell Grant Maximum for One Academic Year |
|---|
| Range |
$500 - $5,550 |
Federal Supplemental Educational Opportunity Grant (FSEOG)
Description: The FSEOG is a grant program for undergraduate students with exceptional need. Priority is given first to students with Federal Pell Grant eligibility. The federal government allocates FSEOG funds to participating schools. This is a limited pool of funds and the school will determine the awarding criteria based on federal guidelines. Often, due to limited funding, FSEOG award resources are exhausted early in the award year.
How much can I get? Amounts vary each award year based on the funding levels allocated to the school. For those who qualify, awards may vary based on financial need and the policies of the financial aid office.
| FSEOG Maximum for an Award Year |
|---|
| Range |
$100 - $4,000 |
Federal Student and Parent Loans
The Department's major form of self-help aid includes loans to students and parents through the William D. Ford Federal Direct Loan (Direct Loan) Program. Direct Loans include Federal Stafford, Federal Parent-PLUS, Federal Grad-PLUS and Federal Consolidation Loans and are available through the U.S. Government.
Federal Stafford Loans (FFEL and Direct Loans)
Description: As of July 1st, 2010 all schools participate in The William D. Ford Federal Direct Loan program (DL). There are two types of Stafford loans; subsidized and unsubsidized.
A Subsidized loan is need-based and the government pays (subsidizes) the interest while the student is in school at least half-time and for six months after the student ceases attending at least half-time (called a grace period).
If students don’t qualify for a subsidized loan, they may qualify for an Unsubsidized loan. (Independent students may also qualify for additional unsubsidized loan beyond the base amount.) Unlike a subsidized loan, the student is responsible for paying the interest that accrues from the time the loan is disbursed until it is paid in full. Students may choose to pay the interest while in school or allow it to accrue and be capitalized (that is, added to the principal amount of the loan). Capitalizing the interest will increase the amount to repay.
How much can I borrow? Whether subsidized or unsubsidized, eligibility is determined based on dependency status, financial need, cost to attend school and the number of terms/payment periods attended. Repayment obligations begin six months after the student graduates, withdraws, or falls below a half-time enrollment status.
Loan limits depend on the student’s grade level and loan type (subsidized or unsubsidized).
| Federal Stafford Loan Annual Maximums (Subsidized & Unsubsidized Combined) |
|---|
|
Dependent Student |
Independent Student |
| Year 1 |
$5,500 |
$9,500 |
| Year 2 |
$6,500 |
$10,500 |
| Year 3 and 4 |
$7,500 |
$12,500 |
| Graduate |
n/a |
$20,500 |
| Life Time Limits | Dependent Students | Independent Student |
|---|
| Undergraduate |
$31,000 (no more than $23,000 may be subsidized) |
$57,500 (no more than $23,000 may be subsidized) |
| Graduate |
n/a |
$138,000 (no more than $65,500 may be subsidized) |
Terms and Conditions
PLUS (Parent and Graduate) Loans
Description: As of July 1st, 2010 all schools participate in The William D. Ford Federal Direct Loan program (DL). There are two types of Stafford loans; subsidized and unsubsidized.
The Parent PLUS Loan is available to parents of dependent, undergraduate students. Either or both parents may borrow through this program. The Parent PLUS is not based on need, but when combined with other resources cannot exceed the student’s cost of attendance. A credit check on the parent borrower is required. Repayment begins within 60 days of final disbursement of the loan. However, parents may request deferment of payments while the student is attending at least half time.
Graduate PLUS Loans are available to students seeking Graduate and/or Professional degrees and are not based on need. A credit check is required and the student must complete the FAFSA. Repayment begins within 60 days of final disbursement of the loan. However, students may request deferment of payments while attending at least half time.
How does the borrower get a loan? Parents (Parent PLUS) and Graduate students (Graduate PLUS) must complete a Direct PLUS Loan application and promissory note, contained in a single form that students may request from the financial aid office. Terms and Conditions
How much I borrow? The yearly limit on a PLUS Loan (Parent and Graduate) is equal to the cost of attendance minus any other financial aid received. For example: If the cost of attendance is $20,000 and the student receives $8,000 in other financial aid, the PLUS loan may not exceed $12,000.
Federal Work Study (FWS)
Description: FWS is a financial aid program designed to assist students in meeting some of the costs of their education by working part-time while attending school. Positions may be on-campus, off-campus, or community service related. A candidate must demonstrate financial need (as determined by the Department of Education) to be eligible for a FWS award. The number of positions available may be limited depending upon the institution’s annual funding allocation from the federal government.
How much can I earn? Federal Work Study students are paid an hourly wage. Wages for the program must equal at least the current federal minimum wage, but may be higher, depending on the type of work performed and the skills required. The maximum amount a student may earn in an award year cannot exceed the total FWS award. When assigning work hours, the employer or financial aid administrator will consider the award amount, class schedule, and satisfactory academic progress. For a listing of available positions please contact the Financial Aid Office.
Bureau of Indian Affairs Aid to Native Americans
To be eligible, the applicant must:
- Be an enrolled member of an American Indian, Eskimo or Aleut tribe, band or group recognized by the Bureau of Indian Affairs.
- Be enrolled in or accepted for enrollment as an undergraduate in an approved college or university.
- Be pursuing at least a two-year degree.
- Demonstrate financial need.
Depending on availability of funds, grants may also be made to graduate students and summer semester students. Priority is given to applicants in the following order:
- Continuing awards
- Applicants enrolled on reservations
- Applicants already enrolled.
Application forms may be obtained from and submitted to the Bureau of Indian Affairs, Federal Building, Room 523, 100 South Clinton Street, Syracuse, NY 13026-0043. An application is necessary for each year of study.
The strictly observed application deadlines are as follows:
- For the fall semester, July 1
- For the spring semester, October 15
- For the summer semester, May 15
An official need analysis from the college Financial Aid Office is also required each year. Moreover, each first-time applicant must obtain tribal enrollment certification from the enrollment clerk who records enrollment for the tribe. Awards are contingent upon available funds and are based on financial need. Award amounts are equal to the difference between total student expenses and financial assistance from all other sources, as indicated by financial aid administrators.
At Briarcliffe College, help is never far away, so please feel free to contact us at any time to learn more about our school and programs or to apply for admission.
Financial aid is available for those who qualify.
Please note that not all programs are available at all location.