Federal Aid Programs
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Non-Need Based Aid |
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TYPE OF AID |
ELIGIBILITY |
HOW TO APPLY |
WHEN TO APPLY |
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Federal Unsubstidized Stafford Loan |
Federal Loan. Amounts vary based upon dependent student status. Interest accrues and is payable while student is in school. Repayment begins six months after student drops below half-time study or graduates |
Available to independent students enrolled at least half-time, regardless of income |
Complete the FAFSA |
Send the FAFSA to processing after January 1 (preferably after completion of tax returns) |
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Federal Parent Loan for Undergraduate Students (PLUS) |
Loan from private lending institution. Loan amounts vary based on the cost of student's education, minus other financial aid. Repayment begins within 60 days after the loan is disbursed |
Available to parents of dependent undergraduate students regardless of income. Must meet lending institution's requirements |
Loan information will be provided in student's financial aid package |
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Need Based Aid |
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TYPE OF AID |
ELIGIBILITY |
HOW TO APPLY |
WHEN TO APPLY |
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Federal Pell Grant |
Federal grant (does not need to be repaid) $400-$4,310 |
Varies depending on results of completing the FAFSA |
Complete the FAFSA |
Complete the FAFSA after January 1 of each year (preferably after completion of tax returns) |
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Academic Competitiveness Grant |
Federal grant (does not need to be repaid) $750 first year, $1,300 second year |
U.S. citizen, Federal Pell Grant recipient (for same period), and first-time first or second year student in a full-time two or four year degree program; completed a rigorous secondary school program of study; 3.0 GPA |
Complete the FAFSA. Student may be contacted by U.S. Department of Education or the Office of Financial Aid |
Complete the FAFSA after January 1 of each year (preferably after completion of tax returns) |
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National Science and Mathematics Access to Retain Talent (SMART) Grant |
$4,000 per third and fourth year of undergraduate study |
U.S. citizen, Federal Pell Grant recipient (for same period), third or fourth year student in a four-year degree program; enrolled full-time in eligible major (computer science, engineering, technology, life sciences, mathematics, physical sciences, and designated foreign languages), 3.0 GPA |
Complete the FAFSA |
Complete the FAFSA after January 1 of each year (preferably after completion of tax returns) |
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Federal Supplimental Educational Opportunity Grant (SEOG) |
Federal grant (does not need to be repaid) $200-$1,000 |
Varies depending on results of completing FAFSA |
Complete the FAFSA |
Complete the FAFSA after January 1 of each year (preferably after completion of tax returns) |
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Federal Perkins Loan |
Federal loan of up to $4,000 per year for undergraduates, $20,000 undergraduate maximum. Repayment begins nine months after student drops below half-time study or graduates |
Varies depending on results of completing the FAFSA |
Complete the FAFSA |
Complete the FAFSA after January 1 of each year (preferably after completion of tax returns) |
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Federal Subsidized Stafford Loan |
Federal loan of up to $3,500 for freshmen, $4,500 for sophomores, and $5,500 per year for juniors and seniors. Repayment begins six months after student drops below half-time study or graduates |
Varies depending on results of completing the FAFSA |
Complete the FAFSA |
Complete the FAFSA after January 1 of each year (preferably after completion of tax returns) |
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Federal Work Study |
Part-time employment; can earn up to $4,000 per year |
Varies depending on results of completing the FAFSA |
Complete the FAFSA |
Complete the FAFSA after January 1 of each year (preferably after completion of tax returns) |
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Tuition Incentive Program (TIP) |
$72 per credit hour for a student enrolled in an associate degree program, not to exceed 24 credit hours per academic year |
Financial need. Award as early as the sixth grade by the state of Michigan |
Student must notify Lawrence Tech's Office of Financial Aid of eligibility |
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Michigan Tuition Grant/Competitive Scholarship |
$100-$2,000 per year (does not need to be repaid) |
Eligibility based on income reported on the FAFSA and/or ACT scores. Must be a Michigan resident since July1 of previous year |
Complete the FAFSA |
Complete the FAFSA after January 1. Priority deadline is March 1 |