GRANTS
Federal Pell Grant (FPELL)
This federal student grant program is designed to provide assistance to any eligible undergraduate student pursuing post-high school education. The value of the award currently varies from $0 to $5,550, depending on the financial need of the student and costs of the institution. Grant amounts may vary from year to year depending upon federal regulations. This program is the foundation for most financial awards and is available at all campuses.
Federal Supplemental Educational Opportunity Grant (FSEOG) This federal student grant program is intended to assist undergraduate students who have been determined to have financial need. It is usually available only to those students who also qualify for the federal Pell Grant. This program is available at all campuses.
California Grant Programs A, B, and C
These state grant programs are administered by the California Student Aid Commission and are reserved for California resident students with financial need as determined by the information contained on their Free Application for Federal Student Aid (FAFSA) form. In addition, the well-funded Cal Grant programs require academic qualification as derived from the Student Aid Commission Grade Point Average (GPA) Verification Form. Both FAFSA and GPA Verification must be postmarked by March 2 of each year. Please check with the student fi nance administrator to determine if these programs are available at your campus.
Cal Grant A
Cal Grant A helps low- and middle-income students with college tuition and fees. Applicants must meet minimum GPA requirement at the time of award. The minimum course length is two academic years.
Cal Grant B
Cal Grant B provides living allowance (and sometimes tuition/ fee assistance) for very low-income first-year students. The minimum course length is one academic year.
Cal Grant C
Cal Grant C assists vocational students with tuition and training costs. Students must be enrolled in and attending a vocational training program lasting from four to 24 months in length.
Colorado Student Grant (CSG)
This state student grant program is intended to assist undergraduate Colorado residents determined to have financial need. This program is available at Denver North and Denver South campuses only.
LOANS
Federal Stafford Loan
This program is a low interest rate, long-term loan program for undergraduate students who have demonstrated fi nancial need. The maximum a student may currently borrow is $3,500 for the first academic year of study, $4,500 for the second academic year, and $5,500 for subsequent years. Eligibility in graduate programs begins at $8,500. Stafford Loans are capped at a 3.4% interest rate, and repayment is required to begin six months after the student completes or terminates his/ her education or becomes less than a half-time student. This program is available at all campuses.
Unsubsidized Federal Stafford Loan
This is a federal loan program designed to allow students who do not qualify for federal interest subsidies under the Federal Stafford Loan Program to obtain an unsubsidized loan. The maximum amount an independent student may currently borrow is $6,000 in addition to the Federal Stafford Loan for the first and second academic years and $7,000 for subsequent years. Eligibility in graduate programs begins at $10,000. If a student does not qualify for a Federal Stafford Loan or some portion of that loan, he/she may borrow the remaining amount under this program. The interest on this loan is also capped at 6.8% and payment may be deferred until six months after the student no longer attends college or becomes less than a half-time student. However, interest will accrue during the deferment period. This program is available at all campuses.
Federal Perkins Loan
This is a low interest rate, long-term loan program available to students who have demonstrated need for such funds. Perkins loans currently carry a 5% interest rate. The maximum a student may be eligible to borrow is $4,000 per award year. Repayment on this loan is not required until nine months after the student completes his/her education or falls below half time status. This program is available at all campuses except those in Virginia.
Federal PLUS Loans
This is a competitive interest rate loan that provides additional funds to help parents pay for the educational expenses of a dependent student. The interest rate for this non-need-based loan is market driven with a cap of 7.9%. Repayment begins approximately 60 days after the first disbursement of the loan. This loan is subject to the policies of the individual lender. In most cases, the maximum loan amount is based on the student’s estimated cost of attendance minus any estimated financial assistance the student has been or will be awarded during the academic year. This program is available at all campuses.
Private Loans
These loans have a competitive interest rate and are provided by a private fund source. Westwood College recommends various private lenders. The eligibility for these loans is
determined by the borrower’s (and co-borrower’s) credit history. The lender determines the repayment terms and conditions of these loans. In some cases, repayment begins after the student leaves college. Applications are available in the Student Finance Office. These programs are available at all campuses.
APEX Financing
APEX financing is available to new and continuing students when all other funding sources are exhausted. Application materials will be supplied by the campus Student Finance Office once eligibility has been determined.
The repayment period for eligible applicants is no more than 120 months (10 years) at no more than 10% interest. Students may prepay the financing at any time without penalties. Apex financings will be credited directly into the student’s account and applied toward the direct cost of the student’s attendance. A corresponding balance will be created in the student’s Apex account. Direct cost of student attendance includes tuition, tool kits, and books. Payments are due on the first of each month and are made to Unisa, a private company contracted by Westwood College to assist students in meeting their educational goals.
If eligible, the APEX financing may be applied for on an annual basis following the application of all financial aid. All charges are due by the 14th day of the term unless other fi nancial
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