Federal Student Aid

Provo College participates in the following financial aid programs:

• Federal Pell Grant Program
• Federal Academic Competitiveness Grant
• Federal Supplemental Education Opportunity Grant Program (FSEOG)
• Federal Work Study
• Federal Subsidized Stafford Loan
• Federal Unsubsidized Stafford Loan
• Federal PLUS Loan

Federal Pell Grant Program

The Federal Pell Grant program is designed to guarantee low and middle-income students, who are eligible for aid, financial access to the college of their choice. For eligible students, Federal Pell Grants are intended to be the “floor” or the base upon which eligibility for all other aid is determined. Federal grants do not need to be repaid.

Federal Academic Competitiveness Grant

Under the ACG provisions, Pell-eligible students graduating from high school may receive additional funding if they: (1) have United States Citizenship; (2) are enrolling for the first time in a degree-granting institution; (3) enroll as a full-time student; and (4) complete a rigorous secondary school program of study.

Utah students will be deemed to have completed a rigorous secondary school program of study under one or more of the following options:

• Completion of the State Scholars Initiative curriculum (4 years of English; 4 years of Math, including Algebra II and a senior year course beyond Algebra II; 3.5 years of Social Studies; 3 years of lab science, including Biology, Chemistry, and Physics; and 2 years of the same Foreign Language).
• Completion of a curriculum “similar to” the SSI curriculum (4 years of English; 3 years of Math, including Algebra I and a higher level course such as Algebra II, Geometry, or Data Analysis/Statistics; 3 years of science, including at least two courses from Biology, Chemistry or Physics; 3 years of Social Science; and 1 year of Foreign Language).
• Completion of at least two (2) Advanced Placement (AP) or International Baccalaureate (IB) courses, with minimum passing scores on the course exams (3 for AP, 4 for IB).
• Completion of at least 6 credits of concurrent enrollment (college level courses) in core academic areas (English, Math, Science, Social Studies, or Foreign Language) with no course grade lower than a B.

Pell-eligible students who qualified for an ACG their freshman year will be eligible to receive an increased award for their second academic year of study if they maintain a cumulative 3.0 GPA for the first academic year.

Federal Supplemental Education Opportunity Grant

The FSEOG award is available to students with exceptional need and gives priority to Federal Pell Grant recipients. In determining student eligibility, the College will base the selection on procedures designed to make FSEOG awards to those students with the lowest expected family contribution (EFC) who will also receive Federal Pell Grant in that award year.

The amount of the grant and the number of students who may receive this grant depends on the availability of annual funds from the U.S. Department of Education.

Federal Work Study

The FWS Program provides part-time employment to students who need the earnings to defray the cost of their education. Students may work on or off campus for a qualified public, private, or community services organization.

Application for the FWS program may be made through Financial Services. Student eligibility is based on financial need and the availability of annual funds. The College will attempt to place students in jobs related to their program of study, and work schedules will be arranged according to class schedules.

• Attendance at school is a prerequisite for keeping a work-study job.
• Students are normally permitted to work up to 20 hours a week when classes are in session and up to 40 hours during vacation and between quarters.
• Students must be in good academic standing while employed under the program.
• Students may not earn more than the authorized amount indicated on the student award letter.
• Students are expected to dress and conduct themselves in a professional manner and to deliver a full measure of work for the time they are employed.
• The amount of the award and the number of students who may receive this award depends on the availability of annual funds from the U.S. Department of Education.

Federal Subsidized Stafford Loans

The student secures a Federal Stafford Loan from a bank, savings and loan association, or other lending institution. Effective July 1, 2006, the loan carries a fixed interest rate, with an 8.25% cap. Repayment begins six months from the date the student leaves college or falls below half-time status (< 6 credits). The loan may be repaid in payments of not less than $50 per month through the repayment period. To apply, complete a loan application, which can be obtained from the lender or Financial Services.

Federal Unsubsidized Stafford Loans

Effective October 1, 1992, students who are not eligible for a Federal Subsidized Stafford Loan due to their income, or who are independent students, may now borrow a Federal Unsubsidized Stafford Loan. Unlike the Federal Subsidized Stafford Loan, the federal government will not pay the interest on the loan while the student is in school. However, the Federal Unsubsidized Stafford Loan will carry the same deferments and interest rate as the Federal Subsidized Stafford Loan. The interest may be paid monthly, quarterly, or may accrue and capitalize.

Federal Parent Loans for Undergraduate Students

The parent of dependant students may borrow a credit-based Federal PLUS loan. There is no annual limit on a PLUS loan, but it may not exceed the student’s cost of attendance. The Federal PLUS Loan carries a fixed interest rate, with a 9.0% cap. There is no aggregate limit for this loan and payments are to be made while the student is in college.