Types of Aid Available

Federal

Pell grants
Provided directly by the Federal government to students with exceptional need. FAFSA required.

Supplemental Education Opportunity Grant (SEOG)
Federal funds provided to the school and limited to students who qualify for a Pell Grant.

Federal Work Study (FWS)
Provides funds for part-time employment to help needy students finance the cost of postsecondary education

Perkins Loans
Low interest loans (5%) awarded by the Financial Planning Office to students with need.

William D. Ford Federal Direct Loan Program
Students may qualify for subsidized or unsubsidized student loans while their parents may apply for the Federal Parent PLUS Loan program.

PLUS Loan Program
Federal loans that graduate and parents of dependent undergraduate students can use to help pay for college.

State

Alabama Student Grant (ASG) (2012-2013 or 2013-2014) is non-need-based and requires proof of residency in AL and a separate application. Standard ASG award is approximately $400/year.

Alabama Student Assistance Program (ASAP) is a need-based grant and requires a valid FAFSA. ASAP is offered to students who demonstrate extreme financial need. The standard award at BSC is about $800/year.

Other Alabama Student Aid Programs

Institutional

Scholarships and Grants

Outside Awards

Outside awards consist of aid from sources and agencies other than BSC. They are considered resources for determining financial assistance. It is incumbent upon the student to notify the Financial Planning Office of such awards. Receipt of outside awards may impact BSC's award of financial aid because the combination of all financial aid and scholarships should not exceed the student's demonstrated need. If such assistance is received, BSC reserves the right to revise the financial aid award.

Private/Alternative Student Loans

In a given school year, about 50 BSC students utilize private/alternative student loans to help cover costs of attendance that are not covered with other sources of financial aid, including past due balances. Most private/alternative student loans are borrowed by the student and require a creditworthy co-signer.

The student is free to choose any lender for a private/alternative student loan, and BSC Financial Planning certifies eligibility and coordinates the loan with other financial aid awards. BSC has screened certain private/alternative lenders to assist the student in the selection process.