Name   Eligibility   Amount   Applying   Interest Rate   Special Notes
Federal Pell   Based on financial need. Awarded to students pursuing their first undergraduate degrees.   Amounts vary according to need. Currently, the maximum is $4,050.00 per year.   Apply using the FAFSA.   Not applicable.   In many cases, this grant provides a foundation of financial aid to which other aid may be added.
Federal Supplemental Educational Opportunity   Based on financial need. Awarded to students pursuing their first undergraduate degrees.   Amounts vary according to need. Currently, the maximum is $1,000.00 per year.   Apply using the FAFSA.   Not applicable.   Based on exceptional financial need, availability of funds, and Federal Pell eligibility.
Alabama Student Assistance Program   Based on financial need. Awarded to in-state students pursuing their first undergraduate degrees.   Amounts vary according to need. Currently, the maximum is $1,000.00 per year.   Apply using the FAFSA.   Not applicable.   Based on exceptional financial need, availability of funds, and Federal Pell eligibility. Due to State Funding, it may not be available.
  Academic Competitiveness Grant   Must be a U.S. citizen, a federal Pell Grant recipient, and be enrolled full-time in a degree program   An eligible student may receive this grant of up to $750 for the first academic year of study and up to $1300 for the second academic year of study.   Apply using the FAFSA   Not applicable   Must be enrolled in a first or second academic year of the program of study, and haev completed a rigorous secondary school program of study (after January 1, 2006, if a first year student, and after January 1, 2005 if a second-year student. Furthermore, a second-year student must have at least a cumulative 3.0 grade-point average.
  National SMART Grant   Must be a U.S. citizen, a federal Pell Grant recipient and be enrolled full-time in a degree program and also must be enrolled in a four year degree-granting institution.   An eligible student may receive this grant of up to $4000 for each of the third and fourth academic years of study.   Apply using the FAFSA   Not applicable   An eligible student may receive this grant for each of the third and fourth academic years of study. Must be majoring in physical, life, or computer science, engineering, mathematics, technology or a critical foreign language and have at least a cumulative 3.0 grade-point average in the course work required for the student's major.
Federal Perkins   Based on financial need.   Amounts vary according to need.   Apply using the FAFSA.   5.00% fixed.   Repayment of loan does not begin until the student is below half-time enrollment.
Federal Subsidized Stafford   Based on financial need. Must be enrolled at least half-time.   Amounts vary according to need and academic classification.   Apply using the FAFSA.   Variable, capped at 8.25%.   Repayment of loan does not begin until the student is below half-time enrollment.
Federal Unsubsidized Stafford   Not based on financial need. Must be enrolled at least half-time.   Amounts vary according to cost of attendance and academic classification.   Apply using the FAFSA.   Variable, capped at 8.25%.   Interest must be paid while in school or added to the balance of the loan. Repayment of loan does not begin until student is below half-time enrollment.
Federal Parent Loan for Undergraduate Students (PLUS)   Not based on financial need. Must be a dependent undergraduate enrolled at least half-time.   Maximum amount is cost of attendance minus any other aid.   Apply using the FAFSA or, when applying for PLUS only, contact Student Financial Aid.   Variable, capped at 9.00%.   Parent or legan guardian of student is the borrower. Repayment begins within 60 days after the second loan disbursement.
  Federal Graduate Plus Loan   Must be enrolled at least half-time. Graduate PLUS loans are federall sponsored loans for students attending graduate school.   Maximum amount is cost of attendance minus any other aid.   Apply using the FAFSA   8.5% fixed.   With a Grad PLUS loan, you may borrow up to the full cost of your education, less other financial aid received including Federal Stafford loans. A credit check is required.
Federal and Community Work-Study   Based on financial need.   Amounts vary according to financial need. Currently the maximum is $4,000.00 per year.   Apply using the FAFSA.   Not applicable.   Provides part-time employment on and off campus. Student is paid on a bi-weekly basis. This program is very limited and based on availability of funds.
The University of South Alabama provides equal educational opportunities to and is open and accessible to all qualified applicants without regard to race, color, creed, national origin, sex, or qualified handicap/disability, with respect to all of its programs and activities.
 
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