To help students pay for post-secondary education, the U.S. Department of Education provides several financial aid programs. This federal financial assistance is divided into three basic categories:
- Grants: aid that does not need to be repaid
- Loans: aid that must be repaid, but generally not until students have graduated or stopped attending school
- Federal Work-Study: a program that allows students to earn money to help pay education expenses
The Free Application for Federal Student Aid (FAFSA) serves as application for the Federal Pell, FSEOG, FWS, FFEL and Direct Loan Programs.
National Polytechnic College of Science is eligible to participate in the following federal financial aid programs.
Federal Subsidized Stafford Loans
Stafford Loans are low interest, non need-based loans made to students by lenders such as banks, credit unions, or savings and loan associations. These loans must be used to pay for educational expenses. An undergraduate may borrow up to $3,500 for the first academic year of undergraduate study. While the student is enrolled in college, at least half time, and for a period of six months beyond the student's last date of attendance, the Federal Government pays the interest.
Federal Unsubsidized Stafford Loans
Stafford Loans are low interest, need-based loans made to students by lenders such as banks, credit unions, or savings and loan associations. These loans must be used to pay for educational expenses. An undergraduate may borrow up to $4,000 for the first academic year of undergraduate study. While the student is enrolled in college, at least half time, and for a period of six months beyond the student's last date of attendance, the Federal Government pays the interest.
Federal Parent Loans for Undergraduate Students (PLUS)
Federal PLUS loans are available to parents of dependent students. Unlike the Federal Stafford, all PLUS loans are subject to credit history verification. A parent will not be eligible to borrow on behalf of a dependent student if the parent is determined, based on criteria established by federal regulations, to have an adverse credit history. The annual limit a parent may borrow, on behalf of a dependent student, may not exceed the student's cost of attendance minus any financial assistance the student has been, or will be, awarded during the period of enrollment. Repayment begins within 60 days after full disbursement unless the parent qualifies for, and is granted, a deferment by the lender.
Federal Pell Grant
This grant is need-based and designed to assist financially eligible students who desire to continue their education beyond high school. Each student is required, if applying for Financial Aid, to apply for a Pell Grant. Awards are determined by the student's need, the cost of attendance, and the amount of money appropriated by Congress to fund the program.
Federal Supplemental Educational Opportunity Grant (SEOG)
This grant is need-based and available to students with exceptional financial need, with priority given to Pell Grant recipients. In determining student eligibility, the college will base the selection on procedures designed to make SEOG awards to those students with the most need who will also receive a Pell Grant in that award year. The amount of the grant and the number of students who may receive this grant depends on the availability of funds from the U.S. Department of Education.
Cal Grant C
Cal Grant C is a California State grant for California residents who are from low and middle income families and who want vocational training. Eligibility is based on financial need, educational history, prior work experience, work and academic references, and grade point average.
Federal Work-Study Program (FWS)
The Federal Work-Study Program is need-based and provides part-time employment to students who require the earnings to defray the cost of their education. FWS funds are limited. The college will attempt to place students in jobs related to their programs of study and work schedules will be arranged according to class schedules. Students may work on campus. Eligible students will achieve work experience while gaining financial assistance.
In general, students are eligible for aid if they:
- Maintain satisfactory academic progress in a program of study.
- Be enrolled or accepted for enrollment as a regular student in an eligible program of study.
- Be enrolled, at least, half time (6 credits within a term).
- Be a U.S. citizen or an eligible non-citizen. (Verification of eligible non-citizen status is required.)
- Not be receiving Financial Aid for concurrent post-secondary attendance.
- Not be in default on any Title IV student loan, (Stafford or PLUS) or owe repayment on any Title IV grant (Pell, SEOG, SSIG) received for attendance at National Polytechnic College of Science or another institution, and must sign certification to that effect.
- File with National Polytechnic College of Science a signed Statement of Educational Purpose.
- Be registered, if male, for the Selective Service (if required).
- Not have borrowed in violation of the aggregate loan limits.
- Have a high school diploma or the equivalent.
- Not have had eligibility for federal benefits suspended or terminated due to a drug-related conviction.
- Meet any program-specific eligibility criteria, including demonstration of need.
