Types of Financial Aid

This need-based grant is available only to undergraduate students that demonstrate financial need based on completion of the Free Application for Federal Student Aid (FAFSA).  Award amounts are based on your Expected Family Contribution (EFC), Cost of Education and number of credit hours you are attending as determined by the Financial Aid Office.

This Federal need-based grant is available to undergraduate, Pell-Grant-eligible students that demonstrate financial need according to a federal eligibility formula.  Award amounts are based on your Expected Family Contribution (EFC), Cost of Education and number of credit hours you are attending as determined by the Financial Aid Office.  These limited funds are available to students that demonstrate a high financial need.

Available to UDC students in an eligible teacher-education program.  Applicants must have a 3.25 GPA and agree to serve as a full-time teacher for at least four academic years after graduation at a low-income school in a high need field.  Applicants must agree and sign an Agreement to Serve and complete TEACH Entrance Counseling with the Federal student aid programs.  For more information visit:  https://studentaid.ed.gov/types/grants-scholarships/teach#what-is-a-teach-grant

Federal Stafford student loans are a form of financial aid that must be repaid either after a student has graduated or when the student has stopped attending classes at least a half-time (6 credit hours). There are two types of Federal Stafford Student Loans: Subsidized and Unsubsidized. UDC also provides the Parent Loan for Undergraduate Students (PLUS) and a GRAD-PLUS loan for graduate students.  ALL FIRST-TIME BORROWERS AT UDC MUST COMPLETE A MASTER PROMISSORY NOTE AND COMPLETE LOAN ENTRANCE COUNSELING AT studentloans.gov.

• Low-interest borrowed funds that must be repaid by the student.
• Interest-free while you are enrolled at least half-time (6 credits) in a degree-seeking program (undergraduate or graduate).
• Borrowed directly from the federal government.
• To be used for education-related expenses such as tuition, fees, books, living costs, transportation, and child care.
• Payments are deferred for six months after the student graduates, leaves school, or enrolls in fewer than 6 credits. The maximum repayment period is 10 years or longer if consolidated. Loan fees apply.  Please see studentloans.gov for more information.
• First-time borrowers of Stafford Loans at UDC are subject to a 30-day hold of their first loan disbursement.

• Accrue interest while a student is enrolled in school (and during the repayment period).
• Are borrowed directly from the federal government.
• Can be used for education-related expenses such as tuition, fees, books, living costs, transportation, and child care.
• Payments are deferred for six months after the student graduates, leaves school, or enrolls in fewer than 6 credits. The maximum repayment period is 10 years or longer if consolidated.  Loan fees apply.  Please see www.studentloans.gov for more information.
• First time borrowers of Stafford Loans at UDC are subject to a 30 day hold of their first loan disbursement.

To be eligible for a Federal Stafford Student Loan, you must:

• Complete a FAFSA, and all requested documents to complete your file at UDC.
• Be enrolled in a financial-aid-eligible degree and/or certificate program and taking six or more credit hours.
• Must be making Satisfactory Academic Progress per the UDC Policy (as listed on this webpage)

First-time borrowers must complete the Direct Loan Entrance Counseling session and the Direct Loan Master Promissory Note.

The Federal student PLUS/Grad-PLUS loan can be borrowed by parents of dependent undergraduate students or graduate students to help pay for the student’s education. PLUS/Grad/Plus loans are typically less expensive than private student loans because PLUS loan borrowing terms are regulated by the U.S. Department of Education.

• Are offered one academic year at a time.
• Applications must be processed through the Department of Education who will approve or deny the application based on a review of the parent or graduate student borrower’s credit history.
• If a parent PLUS loan application is denied, the dependent student usually becomes eligible to borrow up to $4,000 in additional unsubsidized Stafford loan funds. This additional Stafford loan cannot exceed the student’s cost of attendance minus all other aid (including other loans). Unsubsidized Stafford loans accrue interest while the student is in school.
•  Parents: Apply for a Parent PLUS loan by completing an online Parent Plus Loan Application at www.studentloans.gov.

FWS is a need-based financial aid program designed to assist students with employment opportunities on campus or within the community. Students must be enrolled in at least 6 credit hours to maintain their eligibility for this program. This is a regular paid position in which a student will receive a bi-monthly paycheck. The FWS earnings are taxable; however, are excluded in the need calculation on the FAFSA.

SEP is a financial aid program designed to assist students with employment opportunities on campus. SEP may be awarded to students who have indicated an interest in work-study on the FAFSA. These are limited funds that are awarded to students enrolled in at least 6 credit hours and making satisfactory academic progress. This is a regular paid position in which a student will receive a bi-monthly paycheck. The SEP earnings are taxable.

• Students cannot begin work until all personnel paperwork has been completed (I-9, W4, Form 52)
• Students cannot work more than 20 hours a week
• Students must remain enrolled in at least six credit hours during the time that they are employed in FWS or SEP
• Students must submit accurate time sheets on a regular and timely basis
• Student cannot exceed their FWS or SEP work-study award
• To be eligible for a FWS/SEP work-study award, you must complete a FAFSA application, be eligible to receive financial aid, and be enrolled in six or more credit hours.  A limited amount of funds are available to International Students on an F-5 Visa determined eligible to work.

Step 1: Have a Work-Study Award. Work-study funds are limited, so not everyone who wants work-study will receive it. Completing your FAFSA by the priority consideration date of May 1st each year is important. You must indicate on your FAFSA that you are interested in receiving work-study in order to receive a work-study offer. Please get in touch with the Financial Aid Office if you have not been offered a work-study award but are interested in working. Only students who have been awarded work-study should proceed through the following steps.

Step 2: Find a Position. Instructions on applying will be included in the job description of each position. Position announcements will be posted on the UDC financial aid webpage.  Should you not find a position by the third week of class, your award may be canceled.

Step 3: Apply for a Position and Interview. Contact the individual listed on the announcement to arrange an interview. If you have not obtained a work-study position by the end of the second week of the term, your work-study award may be canceled, as funds are limited.

Step 4: Attend a Work-Study Orientation Session.  Students are required to attend a work-study orientation each academic year as some important information may change. In addition, you will need to review the Student Work-Study Handbook for important information regarding employment. All orientation materials are available in the Financial Aid Office.

Step 5: Complete Your Work-Study Paperwork – You must complete a New Hire Packet for Work-Study Employees and have it completed before you can start working. The New Hire Packet is available through the Financial Aid Office once your award has been confirmed.

Step 7: Begin Work. Your supervisor will contact you with your start date once you are approved to work.