NDSCS College Catalog |
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| Major Financial Aid Programs |
| Federal Title IV Programs |
| Most of the aid awarded at NDSCS either comes from the federal government or is regulated by it. The programs include the Pell Grant, Supplemental Educational Opportunity Grant, State Incentive Grant, Stafford loans, Perkins Loan, Parent Loan for Undergraduate Students (PLUS) and Federal Work Study. |
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| Federal Pell Grant - This is the largest grant program in which NDSCS participates. It is one of the major Title IV programs. The current yearly maximum Pell Grant is $ 4,310. It applies towards all NDSCS academic programs at the Wahpeton campus. The money can be used toward tuition and fees, room and/or board, books and/or supplies, and for personal expenses such as travel. The Federal Pell Grant program provides a foundation of financial aid to which assistance from other sources may be added. |
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| Federal Supplemental Educational Opportunity Grant (SEOG) - A grant meant for the neediest of students that normally supplements the federal Pell Grant. It is a much smaller grant program than the Pell Grant and is campus-based, which means the college matches funds. The maximum amount NDSCS normally awards per academic year is $600. |
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| Federal Stafford Loans - This is the largest of the Title IV loan programs. The interest rate is variable with a maximum of 6 percent per year. These are non-secured loans in which the lender is protected by default, in most cases, by the U.S. Department of Education. All students must first file a FAFSA, which is the case for most of the federal programs, to determine eligibility. The loan funds are awarded by the schools and the money is routed from the lending institutions to the schools, and then to the student borrowers. As is the case with most loan programs, student borrowers must have had loan counseling prior to receiving the funds, as well as at the conclusion of their education. These loans are considered to be subsidized if the government pays the interest. For those loans for which the student pays the interest, the loan program is referred to as a Federal Unsubsidized Stafford Loan program. |
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| Federal Perkins Loan - This is the Title IV loan program and also a campus-based program. It is a small loan program in comparison to the Federal Stafford Loan program. The focus must be on the neediest of all of the students. The interest rate is a fixed rate of 5 percent. NDSCS currently awards up to $3,000 per academic year in this program. Repayment begins nine months after leaving college. |
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| Federal Parent Loans for Undergraduate Students (PLUS) - This is another of the Title IV loan programs, and it is the only one that does not require the filing of a FAFSA. These are loans taken out by a parent to help meet the cost of education. These are strictly unsubsidized loans, meaning that the borrower is responsible for all of the interest. The maximum amount that can be borrowed is the cost of education less any other aid awarded to a student. These loans are also routed through a bank, as are the Federal Stafford Loans. |
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| Federal Work Study - A federally instituted program available to needy students. Employment under the work study program will be furnished only to a student who: |
| • is qualified; |
| • is a citizen or national of the United States or is in the country for other than a temporary purpose; |
| • needs the job in order to attend the institution; and |
| • has been accepted for enrollment, or if already enrolled, is in good standing. |
| All eligible students have the opportunity to perform community service. For further terms and conditions, see the Enrollment Services office or the Career Services office. |
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