Federal Aid | Franciscan University of Steubenville

  • Financial Aid

  • Federal Aid

    The Federal government offers different types and levels of financial aid for higher education. Some are grants, some are loans, and other aid is earned while in college through the work-study program.

     

    Federal Loans

    These allow you to borrow money for education at a low interest rate. You must repay your loans, with interest.

    AWARD ELIGIBILITY AMOUNT COMMENTS
    Federal Perkins Loan   Must file a FAFSA. Financial need as determined by the financial aid office. Varies Franciscan receives a limited amount of resources for this loan and will award it to the neediest students until funds are depleted
    Federal Direct Loan, Subsidized   Must file a FAFSA. Need-based. -Freshman: up to $3500
    -Sophomore: up to $4500
    -Junior: up to $5500
    -Senior: up to $5500
    No interest while in school at least half-time; 6 month deferment; federally mandated 6% interest
    Federal Direct Loan, Unsubsidized   Must file a FAFSA; Non-need based - Freshman: up to $5500
    - Sophomore: up to $6500
    - Junior: up to $7500
    - Senior: up to $7500
    Interest is charged at federally mandated 6.8% upon disbursement. Additional unsubsidized funding is available for independent students.
    Parent PLUS Loan Must file a FAFSA; Non-need based Up to total cost of attendance Interest rate is fixed at 7.9%
    Must apply for this loan
    Repayment options vary

    Important Federal Direct Loan Information

    How to sign your Federal Direct loan Master Promisory Note


     

    Federal Grants

    Therse are financial aid awards that do not have to be repaid.

    AWARD ELIGIBILITY AMOUNT COMMENTS
    Federal Pell Grant   Must complete a FAFSA and demonstrate high financial need based on the information contained therein, undergraduate students only Ranges from $523 to $4731/year This is awarded automatically based on your estimated family contribution (EFC)
    Federal Supplemental Educational Opportunity Grant (SEOG)   Must complete a FAFSA and demonstrate high financial need as determined by the financial aid office, undergraduate students only. Varies Franciscan receives a very limited amount of resources for this grant and will award it to the neediest students until funds are depleted.

    Federal TEACH Grant

    Learn about the TEACH grant.  

    Entrance Counseling and ATS  

    U.S. Citizen, ACT/ SAT score or GPA requirements, enrolled in FUS TEACH eligible program in Department of Education, plan to teach full time in a high need field in a low income school for a minimum of 4 years Undergraduate: $1000-$4000/year with a maximum of $16,000
    Graduate: $1000-$4000/year with a maximum of $8000
    See website for complete details, this WILL turn into a loan under several circumstances

     

    Federal Work Study

    This allows you to earn money for your education in an on-campus job with flexible hours. We administer the Federal Work Study program through our Student Work Opportunity Program (SWOP)

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