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Federal Pell Grant
 The Federal Pell Grant provides financial assistance that does not have to be repaid by eligible students. Application is made by completing the Free Application for Federal Student Aid (FAFSA). The Federal Pell Grant program provides grants to full-time and part-time undergraduate students and may be used at any eligible college or university. The award may vary according to the number of credit hours you are enrolled. You must be enrolled for at least eight hours per Term to receive a full award. The maximum award for the 2010-2011 academic year is $5,350. Federal Pell Grant eligibility is based on need and the funding level approved by Congress.

Federal Supplemental Education Opportunity Grants (SEOG)
The Federal SEOG program is for students who show exceptional financial need. Students showing exceptional need, who are Pell Grant eligible and non-residents have highest priority status. These limited federal funds are dependent on Congressional appropriations and are awarded by the University in varying amounts.

Academic Competitiveness Grant (ACG)
The ACG provides up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study to full-time students who are U.S. citizens, eligible for a Federal Pell Grant and who successfully completed a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education. Second-year students must have maintained a cumulative grade point average (GPA) of at least 3.0. The program is available for first-year students who graduated from high school after Jan. 1, 2006, and for second-year students who graduated after Jan.1, 2005.

National Science and Mathematics Access to Retain Talent Grant (SMART)
Provides up to $4,000 for each of the third and fourth years of undergraduate study to full-time students who are eligible for a Federal Pell Grant, U.S. citizens, and who are majoring in physical, life, computer sciences, environmental science, mathematics, technology, engineering or in a foreign language determined critical to national security. The student must also have maintained a cumulative GPA of at least 3.0 in coursework required for the major.

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. The student could receive a grant of up to $4,000 for four years as an undergraduate and for two years as a graduate.

To qualify for a TEACH Grant you must:

    • Be a U.S. citizen or eligible non-citizen

    • Complete the FAFSA; however, financial need is not a requirement

    • Score above the 75th percentile on ACT/SAT or maintain a GPA of at least 3.25

    • Be enrolled as an undergraduate or a graduate student

    • Be enrolled in coursework that is necessary to begin a career in teaching in an identified high need field

    • Sign a TEACH Grant Agreement to Serve (ATS) to teach in a low-income school and in a high need field full-time for four academic years within eight calendar years after completion or withdrawal from the academic program for which the TEACH Grant was received. ATS is located at www.teach-ats.ed.gov and low-income schools at http://www.tcli.ed.gov/CBSWebApp/tcli/TCLIStateWelcome.jsp. If service obligation is not met, the grant funds will be converted to a Federal Direct Unsubsidized Loan that must be repaid with interest charged from the date of each TEACH Grant disbursement.

Federal Direct Loans
A Federal Direct Loan (subsidized and unsubsidized) is a low-interest loan made to students by the U.S. Department of Education. The interest rate for the Federal Direct Subsidized Loan is fixed at 5.6% for the 2010-2011 academic year. The interest rate for a Federal Direct Unsubsidized Loan is fixed at 6.8%. Annual borrowing limits vary based on the student’s year in school and FAFSA dependency status.

  • Freshman annual loan limit = $5,500
    No more than $3,500 will be subsidized, plus additional $4,000 unsubsidized if student is independent.

  • Sophomore annual loan limit = $6,500
    No more than $4,500 will be subsidized, plus additional $4,000 unsubsidized if student is independent.

  • Junior annual loan limit = $7,500
    No more than $5,500 will be subsidized, plus additional $5,000 unsubsidized if student is independent.

  • Senior annual loan limit = $7,500
    No more than $5,500 will be subsidized, plus additional $5,000 unsubsidized if student is independent.

The amount of your Federal Direct Loan that is subsidized depends upon the results of your FAFSA and other financial aid that you may be offered.

Federal Direct Subsidized Loans are need-based with interest paid by the federal government while the student is enrolled at least half-time (minimum of 4 credits).

Federal Direct Loans are based on the cost of attendance (as determined by Briar Cliff) minus any other financial aid the student is receiving. Interest on unsubsidized loans accrues prior to repayment. The student has the option to make interest-only payments while they attend college or to defer payment (capitalization rules may apply).

The Federal Direct Loan Program has counseling requirements. If you are a first-time borrower at the Briar Cliff University, you will be required to complete Direct Loan entrance counseling online. Also, upon graduation or withdrawal from the University, you will be required to complete Direct Loan exit counseling. When it is time to complete either entrance or exit counseling, you will be notified by the Financial Aid Office.

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.

Iowa Tuition Grants (ITG)
The ITG 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 a FAFSA at the federal processors by July 1, 2010, to be considered. The maximum ITG was $4,000 for the 2009-2010 academic year. In the event that available state funds are insufficient to pay the full amount of each approved grant, the Iowa College Student Aid Commission has the authority to administratively reduce the award.

Work-Study Program
Briar Cliff University’s Work-Study Program allows eligible students to earn up to the amount shown on the financial aid award at a part-time job on or off campus. Awards are based on calculated need as determined by information provided on the FAFSA. Need-based employment is funded by the Federal Work-Study Program. Employment earnings are paid twice each month directly to the student for hours worked and DO NOT show as credit on the tuition bill. Briar Cliff will host a job fair during the first week of classes. Students may sign up and visit with interested employers.