State and Federal Programs

Iowa Tuition Grant

The Iowa Tuition Grant is available to qualified Iowa residents who are enrolled in at least three credit hours at a private institution in Iowa. The ITG is based on need, and students must have filed a FAFSA at the federal processors by July 1, 2013, to be considered.
Maximum amount for 2013-14 school year: $4,000

Federal Pell Grant

The Federal Pell Grant provides grants to full-time and part-time undergraduate students at any eligible college or university, and the money does not have to be repaid. Apply by completing a FAFSA. The award may vary according to the number of credit hours you are enrolled. You must be enrolled for at least 12 hours per semester to receive a full award.
Maximum amount for 2013-14 school year: $5,645

Federal Supplemental Education Opportunity Grant

The Federal SEOG program is for students who show exceptional financial need. Students  who are Pell Grant eligible and non-residents have highest priority status.
Maximum amount for 2013-14 school year: $4,000

Federal TEACH Grant

The Federal TEACH Grant is for students that will be teaching in a low-income school and in a high need field of study. It is open to undergraduate and graduate students alike. 
Maximum amount for 2013-14 school year: $4,000

Federal Direct Loans*

A Federal Direct Loan is a long-term, fixed rate loan made to students by the U.S. Department of Education. They come in two categories: subsidized and unsubsidized. Typically, every student who files a FAFSA is eligible to borrow a Federal Direct Loan. A student must be enrolled at least half-time (six credits) to be eligible to receive one. The student has the option to make interest payments during the in-school period, or to allow the accrued interest to be capitalized (added on) to the principal balance. Interest rate is 3.4% for subsidized loans, and 6.8% for unsubsidized.
Maximum amount for 2013-14 school year: $5,500 (freshman), $6,500 (sophomores), $7,500 (juniors and seniors)

Federal Direct PLUS Loan*

A Federal Direct PLUS Loan is an excellent option for families who need to borrow beyond the Federal Direct Loan limits. This low-interest loan can be used by parents to borrow on behalf of dependent undergraduates. A credit check is required and performed by the U.S. Department of Education. The interest rate is fixed at 7.9%. Eligibility is limited to the cost of attendance (as determined by Briar Cliff) minus any other financial aid the student is receiving. To apply for a Federal Direct PLUS Loan, please contact the Financial Aid Office.

*NOTE: To obtain federal loans, students must accept the loan(s) on their financial aid award letter. All first-time borrowers are required to complete a Master Promissory Note (MPN) and an entrance counseling session in order to borrow funds through the Direct Loan Program. To complete the MPN, please visit www.studentloans.gov.