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Summary of Financial Aid Programs
| Program |
Type of Aid |
Source of Aid |
Level of Study |
Annual Limits |
Lifetime Limits |
Current Interest Rate Cap1 |
Interest Rate Effective Dates |
| Scholarship |
Gift |
varies |
varies |
varies |
varies |
n/a |
n/a |
| Pell Grant |
Gift |
Your School |
Undergraduate only |
$3,125 |
$15,625 2 |
n/a |
n/a |
|
Federal Supplemental Educational Opportunity Grant
|
Gift |
Your School |
Undergraduate only |
$4,000 |
To degree |
n/a |
n/a |
| Federal Work-Study |
Work |
Your School |
Undergraduate,
Graduate |
Variable |
Variable |
n/a |
n/a |
| Perkins |
Loan |
Your School |
Undergraduate |
$4,000 |
$20,000 3 |
5% |
Fixed |
| Loan |
Your School |
Graduate |
$6,000 |
$40,000 3 |
5% |
Fixed |
| Stafford - Subsidized |
Loan |
Brazos Lender |
Undergraduate |
$2,625/$3,500/$5,500 4 |
$23,000 5 |
8.25% |
Annually on 7/1 |
| Loan |
Brazos Lender |
Graduate |
$8,500 |
$65,500 5 |
8.25% |
Annually on 7/1 |
| Stafford - Unsubsidized |
Loan |
Brazos Lender |
Undergraduate |
$2,625/$3,500/$5,500 4 |
$23,000 6 |
8.25% |
Annually on 7/1 |
| Loan |
Brazos Lender |
Graduate |
$10,000 |
$138,500 |
8.25% |
Annually on 7/1 |
| PLUS |
Loan |
Brazos Lender |
Undergraduate |
Cost of education minus aid |
No limits |
9% |
Annually on 7/1 |
| Private Loans |
Loan |
Brazos Lender |
Undergraduate,
Graduate |
varies |
varies |
varies |
varies |
- Interest rates - Every effort has been made to show the current interest rate for each program. All interest rates, however, are subject to change, and the rate listed may be different than the current
rate.
- Pell limits - You may be eligible for up to $3,125 each year you attend school, up to a maximum of five years.
- Perkins loans - Graduate students can borrow up to $40,000 including the amount borrowed as an undergraduate. Therefore, if you borrow $20,000 as an undergraduate, you may be eligible for up to $20,000 as
a graduate student.
- Stafford annual limits - As an undergraduate you may borrow up to $2,625 per year for the first year, $3,500 for the second year and up to $5,500 per year for the third and subsequent academic years for a
cumulative total of $23,000.
- Lifetime limits - Graduate limits include the amount you borrowed as an undergraduate. Therefore if you borrowed $23,000 in subsidized loans as an undergraduate, you may be eligible for up to $42,500 in
subsidized loans as a graduate student ($23,000 + $42,500 = $65,000).
- Stafford unsubsidized - As a dependent undergraduate student you may borrow up to $2,625 per year for the first year, $3,500 for the second year and up to $5,500 per year for the third and subsequent
academic years for a cumulative total of $23,000. Independent undergraduate students may be eligible to borrow $6,625 the first year, $7,500 the second year, and $10,500 per year the third and subsequent years in subsidized and
unsubsidized loans combined.
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