FEDERAL PELL GRANT
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Annual awards range up to $4,731 and are designed to assist students based on their ability to pay.
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FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (SEOG)
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Annual awards range up to $700 and are designed to help the neediest students.
Priority deadline date is April 1, 2008.
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IOWA TUITION GRANT
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Awards range up to $4,000 and are designed to assist students based on their ability to pay.
Grant is designed to help Iowa residents attending private colleges in Iowa minimize the tuition difference between public and private colleges.
The FAFSA must be received at the processing center by July 1, 2008.
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IOWA GRANT
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Statewide, need-based grant for Iowa resident undergraduates.
Awards range up to $1,000 per year for students with exceptional financial need.
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FEDERAL COLLEGE WORK-STUDY
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Offers employment either on campus or at a participating off-campus agency.
Students typically work one to four hours per day
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FEDERAL PERKINS LOAN
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Loan amounts range up to $1,500 based on student's financial need.
Repayment and interest begins nine months after the student leaves or drops to less than half-time enrollment
Fixed 5% interest rate once student enters repayment
Priority deadline is April 1, 2008
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FEDERAL SUBSIDIZED STAFFORD LOAN
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First year students may borrow up to $3,500, second year students may borrow up to $4,500, and 3rd/4th year students may borrow up to $5,500.
Interest free and payment free while student is attending school and during 6 month grace period.
Repayment of principal and interest begins six months after the student leaves or drops to less than half-time enrollment.
Interest rate is fixed at 6.0% for loans disbursed after 7/1/2008.
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FEDERAL UNSUBSIDIZED STAFFORD LOAN
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Established to assist students who do not qualify for the maximum Subsidized Loan.
Independent students may be eligible to borrow up to an additional $4,000 for the 1st and 2nd year and up to $5,000 for the 3rd and 4th year.
Interest accumulates while the student is in school.
Repayment of the principal and capitalized interest begins six months after the student leaves or drops to less than half-time enrollment.
Interest rate is fixed at 6.8%
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FEDERAL PLUS LOAN
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Allows the dependent student's parent to borrow up to the difference between the student's cost of attendance and the student's financial assistance.
Interest accumulates while the student is in school.
The interest rate is fixed at 8.5%.
Payment of principal and interest begins within 60 days of the loan being fully disbursed.
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ALTERNATIVE PRIVATE LOANS
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Available for either student or parent.
Interest accumulates while the student is in school.
Repayment may be deferred until after student is out of school.
Please contact the AIB Financial Aid Office for additional information.
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