Types of Aid

What is the Federal Pell Grant and how do I qualify?

The Federal Pell Grant provides up to $4310 per student annually for educational costs. Like all grants, the Pell Grant does not have to be repaid. To qualify for a Pell Grant, you must have exceptional need (Expected Family Contribution of 4110 or less in 2007-2008), be a citizen or permanent resident of the United States, and not have a bachelor's degree. The amount of your grant is based on your EFC, which means that you must have a zero EFC to qualify for the maximum award amount. The amount of your award is also affected by the number of hours that you are taking. This means that a full-time student with an EFC of zero will receive more than a part-time student with an EFC of zero.

What is the FSEOG and how is it awarded?

The FSEOG (Federal Supplemental Educational Opportunity Grant) is awarded to Pell Grant recipients on a first come basis. In order to improve your chances of receiving the FSEOG, you should complete your financial aid file before the priority deadline of April 1st. The maximum annual award is $800.

Please Note:
Gift aid including but not limited to the Federal Pell Grant, FSEOG, HOPE Scholarship, and private scholarships, is taxable income. You must report gift aid that exceeds the cost of tuition, fees, books, and supplies. Please consult with your taxpreparer if you have questions about how to complete your taxes.

Vocational Rehabilitation Benefits are provided to promote employment possibilities if you are disabled. You may be eligible to receive grants covering tuition, fees, books, and, supplies. For further information, contact your nearest Office of Rehabilitation Services, under Georgia State Government, Human Resources Department. Completing a FAFSA is required to determine your eligibility.

What are the different loans available to The University of West Georgia and how do I qualify?

There are seven different loan options at The University of West Georgia: Federal Perkins Loan, William D.Ford Direct Subsidized Loan, William D. Ford Direct Unsubsidized Loan, William D. Ford Direct PLUS Loan, Graduate PLUS loan, Service Cancelable State Student Loan, and Short-Term Loan.

Federal Perkins Loan

To qualify for the Federal Perkins Loan, you must have financial need as determined by the Financial Aid Office. This loan is awarded on a first come basis. To improve your chances of being offered this loan you should have a complete financial aid file by April 1st. No repayments are due and no interest accrues until 9 months after you graduate, leave college, or cease to be enrolled as a half-time student. The simple annual interest rate is 5%. The minimum repayment is $40 per month, providing the entire loan can repaid within ten years. The maximum Perkins Loan for 06-07 was $2000. A portion of the debt can be canceled for teaching in certain communities or neighborhoods, or for service in Head Start programs, Peace Corps, law enforcement, special education, math, science, foreign language education, and nursing. As with all student loans, you will be required to attend an Exit Counseling Session where repayment options will be discussed. Students who are offered and accept a Perkins Loan must complete a Personal and Confidential Information Sheet and read the Borrowers' Rights and Responsibilities.

William D. Ford Direct Subsidized Loan

The program allows you to borrow directly from the government at a low interest rate if you have financial need and are enrolled at least half-time (6 or more hours for undergraduates and 5 or more hours for graduates). No repayments are due and no interest accrues until 6 months after you graduate, leave school, or cease to be enrolled as a half-time student. Loans disbursed after July 1, 2006 have a fixed interest rate. The current fixed interest rate is 6.8%. Origination fees of 2.5% are deducted from the loan amount you requested on your application. As a first time borrower at UWG, you will be required to complete a loan entrance counseling session and an electronic Master Promissory Note (MPN). You will receive information through your UWG email address about how to complete the Entrance Counseling Session and MPN. You will also be required to complete an exit counseling session if you graduate, transfer to another school, withdraw from school, or drop below half-time. You will be notified as to when you should complete this requirement, and you may also choose to satisfy this by clicking here.

William D. Ford Direct Unsubsidized Loan

This loan is administered the same as a subsidized loan EXCEPT that interest on the loan accrues while you are in school and this loan does not require that you have financial need. It is strongly recommended that you pay the accruing interest while you are in school. You can borrow from this loan program regardless of your family income.

As a dependent student you may borrow the following amounts from the Subsidized and Unsubsidized Loans according to classification:
     Freshmen $3500
     Sophomores $4500
     Juniors and Seniors $5500
     Certification/Provisional Graduates $5500
     Graduates $8500

(Loan amounts are divided equally for the academic year, Fall and Spring. The loan can be divided into three disbursements to include summer as well).

Please Note:
You must have financial need to qualify for the subsidized loan, so your total loan could be all subsidized, all unsubsidized, or some of both. For example, if you are a freshman receiving only the HOPE Scholarship and your Expected Family Contribution is $6,000 and your budget is $10,000, your loan eligibility would be calculated as follows:
     $10000 (Budget)
     -$6000 (Expected Family Contribution)
      $4000 (Total Financial Need)
     -$3000 (HOPE Scholarship)
      $1000 (Need for a Student Loan)

You could receive a subsidized loan of $1000 and, as a dependent freshman, you could borrow $2500 in an unsubsidized loan. This would make your total $3500 which is the maximum loan eligibility for a dependent freshman.

As an independent student, your loan eligibility would be calculated in the same manner EXCEPT you could borrow additional unsubsidized loan amounts. If you have 0-59 earned hours, you can borrow an additional $4000/year; if you have 60-130 earned hours, an additional $5000/year is available. If you are a Certification/Provisional Graduate, you can borrow an additional $7000/year, and as a regular graduate, an additional $12,000/year. The maximum loan you are allowed is the difference between your budget and all of the other aid you are receiving.

You can review your loan history at http://www.nslds.ed.gov. If you should need help to resolve a dispute or solve other problems with federal student loans, you can contact the office of Federal Student Aid Ombudsman of the Department of Education with one of the following options:

Via e-mail: fsaombudsmanoffice@ed.gov
Via online assistance: http://www.ombudsman.ed.gov
Via telephone: 877-557-2575 (tollfree) or 202-377-3800
Via fax: 202-275-0549
Via mail:
U. S. Department of Education
FSA Ombudsman
830 First Street, NE
Washington,D.C. 20202-5144

William D. Ford Direct PLUS Loan

This loan is available to your parents if you are a dependent undergraduate student, regardless of financial need. The loan will be approved based on your parents' credit history. The interest rate is fixed based on the 52 week T-Bill plus 3.1% and caps at 9%. Interest begins to accrue the day the loan is disbursed and repayment begins within 60 days with a minimum monthly payment of $50. Origination fees are 4%. The maximum loan you are allowed is the difference between your budget and all of the other aid you are receiving. The loan will be divided equally for the academic year. Your parents must make the request if they wish to receive any overpayments from the PLUS loan; otherwise the check will be disbursed to you. An Information booklet regarding the Plus Loan program can be found online through the following link: Direct Loan Basics for Parents

Graduate PLUS Loan

Graduate students have special Financial Aid needs, and as such, there are special financing options available. The GradPLUS Loan Program is designed to help Graduate students obtain the funding they need to continue their education. While lenders have varying standards for their particular programs, all GradPLUS loans are offered regardless of the student's financial need. However, this loan cannot be awarded in excess of the student's yearly budget at UWG. Please contact our office if you are interested in the Graduate PLUS Loan.

Service Cancelable State Student Loans

You may apply for one of a limited number of these loans if you are in the profession of Nursing. As a graduate or undergraduate, you can borrow up to $4,500 per year. You must be formally accepted into your major program of study to be considered. You can "cancel" your loan by working full-time for one calendar year for each year you receive the loan at an approved site in Georgia. For further information contact the Georgia Student Finance Commission at 1-800-776-6878 or visit their website at http://www.gsfc.org.

Our school's allocation amount is awarded to applicants with completed financial aid files by April 1st. A completed financial aid file consists of a student aid report (ISIR) resulting from a filed Free Application for Federal Student Aid (FAFSA) and all paperwork required by the financial aid office. Preference is given to the previous year's recipients then subsequent awards are based on the date of completion of your financial aid file.

Short Term Loans

These loans are available through the Bursar's Office if you are currently enrolled and need temporary financial assistance. Loans are made based on the availability of funds with a maximum loan amount of $450 per semester. In general, loan money is available within five to eight days of application. A minimal interest rate and/or service fee is charged and the loan must be repaid before the end of the semester. You may be denied a short-term loan if you have been delinquenton past loan repayments. Apply in the Bursar's office.

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Alternative Educational Loans (Private and Non-Federal)

Alternative loans are structured similar to Federal Stafford Loans and offer competitive interest rates. Quick delivery of loan funds is possible due to fast approval and rapid processing. The loans have repayment options similar to Federal Stafford Loans and offer extended repayment terms of 15 to 20 years. Of course, extended repayment terms also increase the total amount you repay!

Alternative Loans cost more than Federal Stafford Loans due to slightly higher interest rates and guarantee fees. Since the loans can greatly increase a student's overall debt, it is possible the loans could adversely affect a student's ability to repay the loan as well as to damage a student's future credit rating.

The following table is designed to assist students in identifying Alternative Educational Loans that are available to students at the University of West Georgia. The University does not necessarily endorse any of the following lenders and is providing the information in the public interest. Students should proceed with caution and should be extremely careful while accessing Alternative Loan opportunities.

Should you wish to consider an Alternative Loan, you should contact the following Alternative Loan organizations to inquire about the terms and conditions of their particular type of Alternative Loan. When you have selected an Alternative Loan lender, you should request a loan application from the organization. Upon receipt of the loan application, read all instructions and follow the exact procedures for completion of the application.