Types of Financial Aid for 2009-2010

General Requirements: Complete and mail the Free Application for Federal Student Aid (FAFSA) and submit official copies of high school and academics transcripts to Office of Admissions. Students must be degree seeking to receive assistance. Students with previous bachelor degrees are ineligible for grants.

Programs	Description	How to Apply	Amounts*	Deadlines
Federal Pell Grant	Federal government funded grant Repayment not required *Partial awards are available for less than full-time enrollment	Complete Free Application for Federal Student Aid (FAFSA)	$976 to $5,350 per year	Processed in dated order through June 30, 2010
Federal Academic Competitiveness Grant (ACG)	Federal government funded grant Repayment not required US Citizen or eligible non-citizen Must be Pell Eligible Enrolled at least half-time in their first or second academic year of study Must be enrolled in a degree granting program (for second year students, must be enrolled in a two year degree program) Graduate high school after January 1, 2005. Completed a rigorous high school program *For the second year, must have a 3.0 GPA	Complete Free Application for Federal Student Aid (FAFSA)	$750 for first year student $1,300 for second year student	Processed in dated order through June 30, 2010
Federal Supplemental Educational Opportunity Grant (SEOG)	Federal government funded grant Repayment not required *Award based on high financial need, meeting application deadline and availability of funds	Complete Free Application for Federal Student Aid (FAFSA)	$100 to $400 per year	March 1, 2009
Federal Work Study (FWS)	On-campus employment Work with college faculty and staff Employees receive a paycheck bi-weekly Must be enrolled at least 6 (six) credit hours	Complete Free Application for Federal Student Aid (FAFSA) *Submit employment application to COTC	$1,000 to $4,000 per year; award based on availability of funds	March 1, 2009
Federal Subsidized Stafford Loan	Federal loan, based on financial need 8.25% ceiling, up to 3% fees withheld At least half-time enrollment required Repayment begins 6 months after graduation or falling below half-time, 10-25 years repayment *Interest subsidized while in school, deferment or grace period	Complete Free Application for Federal Student Aid (FAFSA) *Complete Loan Entrance Counseling, Promissory Note, and request via COTCconnect	Maximum per grade level: Freshman $3,500; Sophomore $4,500 Dependent - aggregate total $23,000 Independent - aggregate total $23,000	Processed in dated order through June 6, 2010 or last date of attendance, whichever comes first.
Federal Unsubsidized Stafford Loan	Federal loan, not based on financial need 8.50% ceiling, up to 3% fees withheld At least half-time enrollment required Repayment begins 6 months after graduation or falling below half-time, 10-25 years repayment *Borrower is responsible for accrued interest while in school, deferment or grace period (payment of interest may be deferred)	Complete Free Application for Federal Student Aid (FAFSA) *Complete Loan Entrance Counseling, Promissory Note, and request via COTCconnect	Maximum per grade level: Freshman - Dependent $5,500 Independent $9,500 Sophomore - Dependent $6,500 Independent $10,500 Dependent-aggregate total $31,000 Independent- aggregate total $57,500 Less subsidized loan eligibility	Processed in dated order through June 6, 2010 or last date of attendance, whichever comes first.
Federal Parental Loan for Undergraduate Students (PLUS)	Federal supplemental loan for parents of dependent students, not based on financial need Variable interest, 9% ceiling, up to 3% fees withheld At least half-time enrollment required Repayment begins 60 days from date of full disbursement, 10-25 years repayment *Repayment may be deferred if certain conditions are met	Complete Free Application for Federal Student Aid (FAFSA) Complete a PLUS promissory note online. Submit prior to or while student is enrolled	Cost of education minus other financial aid	Processed in dated order through June 6, 2010 or last date of attendance, whichever comes first.

*Award amounts based on funds available.

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