Need-Based Financial Aid Opportunities
Federal, State, & Institutional Need-Based Aid Programs *
BSC Grant-In-Aid - These grants and scholarships are awarded by the Office of Student Financial Aid Services to students based on demonstrated need and the availability of funds. The FAFSA is the only requirement to be considered for these grants and scholarships. Funding is made possible through the generosity of BSC alumni and friends.
Federal College Work-Study - This federal program provides part-time employment for eligible students. Students usually work 9 to 15hours per week at $6.00/hr and receive a paycheck once each month. The paycheck is made out to the student and the student chooses how to use the money. Eligibility for this program is determined by the Office of Student Financial Aid Services and is based on demonstrated need and the availability of funds.
Federal Subsidized Stafford Loan - This is a low-interest loan that enters repayment six months after the student ceases to be enrolled at least half-time (1.5 units for Day students). The term "subsidized" means the government pays the interest on the loan while the student is enrolled in school and during the six-month grace period after a student ceases to be enrolled at least half-time. Freshmen may be eligible to borrow up to $2,625, sophomores up to $3,500, and juniors and seniors up to $5,500.
Federal Unsubsidized Stafford Loan - This loan program provides financial assistance to all students regardless of income. It is very similar to the Subsidized Stafford Loan in that the repayment terms and loan limits by class standing are the same. The difference is that the student, rather than the federal government, is responsible for paying the interest on the loan while he or she is enrolled. Loan proceeds from the Unsubsidized Stafford Loan will be disbursed like the Subsidized Stafford Loan above, and the total amount of both the Subsidized and Unsubsidized Stafford Loans must not be more than the annual loan limits set for the student's class standing.
Federal Parent Loan For Undergraduate Students (PLUS) - This federal loan is a long-term, low-interest loan available to parents of dependent students regardless of income level. The annual loan limit is equal to the cost of attending BSC, less any financial assistance the student is receiving. This loan enters repayment 60 days after the last disbursement of each academic year.
Federal Pell Grant - This federal grant is available to undergraduate students who have NOT received a baccalaureate degree. Eligibility is determined by the Expected Family Contribution (EFC) as calculated using information provided on the Free Application for Federal Student Aid (FAFSA). Funds from this award will be divided equally between Fall and Spring semesters and will be credited to the student's account accordingly. The FAFSA may be obtained from a high school guidance counselor or from our office by calling the above phone number. You may also complete the FAFSA on the world wide web at http://www.fafsa.ed.gov/
Federal Supplemental Educational Opportunity Grant (SEOG) - This federal grant is awarded based on the student's EFC and the availability of funds. Eligibility is determined by the BSC Office of Student Financial Aid Services using information from the student's FAFSA. This grant is available to undergraduate students who have not received a baccalaureate degree. Funding is limited.
Federal Perkins Loan - This federal loan is originated by the school rather than an outside lender. It is awarded based on the student's EFC and the availability of funds. This is a long-term, low-interest (5%) loan which enters repayment nine months after the student ceases to be enrolled at least half-time (1.5 units for Day students). The maximum Perkins Loan is $4,000 per year for undergraduates. Funds subject to availability.
* The availability of need-based aid programs is subject to federal, state, and institutional funding. This information is subject to change without notice.