| 2008-2009 Federal and State Aid |
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| FEDERAL PELL GRANT |
- 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) |
- 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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| ACADEMIC COMPETIVENESS GRANT (ACG) |
- This grant is available to Pell-eligible students who have successfully completed recognized rigorous high school programs.
- An eligible student may receive an Academic Competitiveness Grant of up to $750 for the first academic year of study and up to $1,300 for the second academic year of study.
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| IOWA TUITION GRANT |
- 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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| ALL IOWA OPPORTUNITY SCHOLARSHIP |
- Provides scholarship assistance to students at risk of not pursuing postsecondary education because of social and financial barriers.
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| ALL IOWA OPPORTUNITY FOSTER CARE GRANT AND THE EDUCATION AND TRAINING VOCHURE (ETV) |
- Provides scholarship assistance to children in the Iowa foster care system.
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| IOWA NATIONAL GUARD EDUCATION ASSISTANCE GRANT |
- This grant provides annual awards to Iowa National Guard members who attend an Iowa college.
- Applications are available at the Iowa National Guard Headquarters.
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| IOWA GRANT |
- 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 |
- 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 |
- 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 |
- 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 |
- Established to assist students who do not qualify for the maximum Subsidized Loan.
- Dependent students may be eligible to borrow up to an additional $2,000 per academic year.
- Independent students may be eligible to borrow up to an additional $6,000 for the 1st and 2nd year and up to $7,000 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 |
- 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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Financial Aid Office ° 2500 Fleur Drive ° AIB College of Business ° Des Moines, IA 50321
Phone: (800) 444.1921 ° Fax: (515) 244.6773 ° financialaid@aib.edu |