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Federal Financial AidThe U.S. Department of Education, through Title IV of the Higher Education Act, provides students with excellent resources to fund their educations. Collins College participates in a wide variety of these programs to help ensure that all eligible students have equal access to federal financial aid. You can access the Department of Education's "Funding Your Education" page to help gain a more-detailed understanding of student financial aid programs. Our experienced financial aid representatives can help you identify financial aid options you may qualify for, including the following Title IV programs in which our school participates: Federal Pell GrantThis grant program is designed to assist needy undergraduate students who desire to continue their education beyond high school. Every student is entitled to apply for a Federal Pell Grant. Eligibility is determined by a standard federal formula, which takes into consideration family size, income and resources to determine need. The actual amount of the award is based upon the cost of attendance, enrollment status, and the amount of money appropriated by Congress to fund the program. The Federal Pell Grant makes it possible to provide a foundation of financial aid to help defray the cost of a postsecondary education. Unlike loans, the Federal Pell Grant does not usually have to be paid back. The Federal Supplemental Education Opportunity Grant (FSEOG)The FSEOG is a grant program for undergraduate students with exceptional need with priority given 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 to whom and how much it will award based on federal guidelines. Often, due to limited funding, FSEOG award resources are exhausted early in the year. Federal Student and Parent LoansThe 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 Direct Stafford loans are low-interest loans that are made to the student. The loan must be used to pay for direct (tuition and fees, books and supplies) and indirect (room, board, transportation and personal expenses) education related expenses. Subsidized loans are based on need while unsubsidized loans are not. Repayment begins six months after the student graduates, withdraws from school, or falls below half-time enrollment status The William D. Ford Federal Direct Parent - PLUS loan is available to parents of dependent undergraduate students. These loans are not based on need but when combined with other resources, cannot exceed the student’s cost of education. A credit check on the parent borrower is required and either or both parents may borrow through this program. Repayment begins within 60 days of final disbursement of the loan within a loan period. However, parents may request a deferment of payments while the student is attending at least half time. Federal Work Study (FWS)FWS is a financial aid program designed to assist students in meeting the cost of their education by working part-time while attending school. Positions may either be on-campus, off-campus, or community service related. A candidate must demonstrate financial need to be awarded FWS. The number of positions available may be limited depending upon the institution’s annual funding allocation from the federal government. Financial aid is available for those who qualify. Click here to learn more about the financial aid options available (for those who qualify) to help you finance your education. This presentation will also show you the information you will need to get started on completing the Free Application for Federal Student Aid (FAFSA). We voluntarily comply with the Arizona Code of Conduct. Please refer to the link below for more information on the AZ Code of Conduct. |