Federal Financial Aid

Grants and loans are available through federal government programs. Filling out the Free Application for Federal Student Aid (FAFSA) will let you know if you are eligible for these funding options.

Federal Assistance Awarded through Newman University*:

Award Name	Maximum Annual Value	Requirements
Federal Pell Grant	Up to $4,050.00	Financial need
Federal Supplemental Educational Opportunity Grant	Up to $1,100.00	Pell recipient; given to the neediest applicants on a first-come, first-served basis
Federal Academic Competitiveness Grant	Freshman: $750.00 Soph.: $1,300.00	US Citizen; Pell recipient; requires fulltime enrollment in a degree seeking program; completion of a rigorous high-school program of study.
National SMART Grant	Jr. - Sr.: $4,000.00	US Citizen; Pell recipient; requires fulltime enrollment in a degree seeking program; minimum GPA of 3.0; major in physical, life or computer science, engineering, mathematics, technology or a critical foreign language.
Federal College Work-Study	Up to $4,000.00	Financial need; request this on the FAFSA
Federal Subsidized Stafford Loan (undergraduate 6.0% interest rate, graduate 6.8%)	Freshman: $3,500.00 Soph.: $4,500.00 Jr. - Sr.: $5,500.00 Graduate: $8,500.00	Financial need, may no have defaulted on any previous student loans; neither principal nor interest repaid while enrolled in college half-time or greater.
Federal Unsubsidized Stafford Loan (6.8% interest rate)	Freshman: $4,000.00 Soph.: $4,000.00 Jr. - Sr.: $5,000.00 Graduate: $12,500.00	Not based on financial need; designed for independent students and may be awarded to them in addition to the subsidized loans; interest begins when loan is disbursed.
Parent Loan for Undergraduate Students (PLUS) (8.5% interest rate)	Up to full cost of attendance minus other aid.	Not based on financial need; designed for parents of dependent undergraduate students; may be awarded in addition to student's subsidized or unsubsidized loans; repayment begins during college. Based on current credit score.
Graduate PLUS Loan (8.5% interest rate)	Up to full cost of attendance minus other aid.	Not based on financial need; designed for graduate students; may be awarded in addition to subsidized or unsubsidized loans; repayment begins during college. Based on current credit score.
Federal Perkins Loans (5% interest rate)	Up to $2,000.00	Pell recipient; requires enrollment in the fulltime flat rate program; given to students who have attended Newman University for one academic year; priority given to those who are in the educational and medical programs.

* Students must meet federal eligibility requirements. These requirements can be found in the FAFSA instructions. Students also must maintain satisfactory progress to receive financial aid for future semesters/academic years. The Financial Aid Office at Newman University can provide you with further details on this policy. All federal programs except the Federal Pell Grant, Federal Academic Competitiveness Grant, and National SMART Grant require at least half-time enrollment each semester.