Students have the option to apply through FAFSA (Free Application for Federal Student Aid), the Teachers Assistant (TA) Program, the Work Study Program, the Federal Supplementary Education Opportunity Grant (FSEOG) Program, and the Federal Stafford Loan Program. In addition, many states offer scholarships and/or loans to residents who attend college in other states.
The Teacher Assistantship Program provides students with part-time positions assisting full-time members of the faculties. These Assistantships are restricted to full-time students whose cumulative grade point average is at least a 3.00 or "B," and who demonstrate financial need. Teacher Assistants may work as many as 45 hours per semester at a maximum rate of 5 hours per week while classes are in session. Individual faculty members in conjunction with the Financial Aid Office select candidates.
The Work Study Program offers a variety of limited part-time employment opportunities on campus. Students are selected based on demonstrated financial need and the availability of positions. Each student participating in this program may work up to 15 hours per week when school is in session. The Financial Aid Office assigns Work Study jobs.
Under the Federal Supplementary Educational Opportunity Grant (FSEOG) program, limited Federal funds are available to students. Grants are awarded according to School and Federal guidelines, based on financial need.
Many states offer scholarships and/or loans to their residents who wish to attend schools in their state. However, some states offer scholarships to their residents to attend schools in another state. The following states offer such "portable" aid programs: Connecticut, Rhode Island, Vermont, Pennsylvania and the District of Columbia. Students may obtain further information from their high school guidance department or directly from the state agency responsible for such programs. Massachusetts residents may also write to the Hellenic College student financial aid office.
The Federal Stafford Loan program provides students with the opportunity to borrow money from a bank, credit union or savings and loan association in order to pay for their education. The total annual amount that a student may borrow is:
Undergraduate 1st year $3,500
Undergraduate 2nd year $4,500
Undergraduate 3rd year & 4th year $5,500
The student must repay all Federal Stafford Loans. Under the Subsidized loan program, students begin their repayment six months after they complete their program of study. The Federal Government subsidizes the interest while the student is in school. The interest on unsubsidized Federal Stafford loans is not subsidized by the Federal Government and can either be paid by the student during their program of study or may be deferred until six months after the student finishes school. If the student chooses to have the interest accrued, it will capitalize and the principal of the loan will increase significantly.
For more information about scholarship opportunities visit: Scholarship Help.