Grants
Federal Pell Grant
The Federal Pell Grant is considered to be the foundation upon which all other financial aid is awarded. Eligibility is limited to students pursuing their first undergraduate degree.
All students applying for any financial assistance from IUP or through state grant programs must apply for the Federal Pell Grant. It is funded and administered by the federal government. To apply for this grant you must complete the Free Application for Federal Student Aid (FAFSA).
Pennsylvania State Grant
Pennsylvania State Grants are provided by the state for Pennsylvania residents. You must complete the Free Application for Federal Student Aid (FAFSA). The deadline for applying is May 1. Eligibility is limited to students pursuing their first undergraduate degree.
You must be enrolled for at least six credits to receive a part-time Pennsylvania State Grant. PHEAA academic progress guidelines require that you earn twelve new credits for each semester of full-time grant assistance.
Other State Grants
If you are not a resident of Pennsylvania, check with your state Higher Education Assistance Agency to see if aid is available to you for attendance at IUP.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is funded by the federal government and administered by IUP. Eligibility is based on your exceptional financial need with priority given to Federal Pell Grant recipients. Eligibility is limited to students pursuing their first undergraduate degree.
You must be enrolled on at least a half-time basis (six credits per term). You may receive approximately $200 to $3,000 per year at IUP. To apply for this grant, you must complete the Free Application for Federal Student Aid (FAFSA) by April 15.
Academic Competitiveness Grant (ACG)
An eligible student may receive an Academic Competitiveness Grant (ACG) of $750 for the first academic year of study (0-24 credits) and $1,300 for the second academic year of study (25-48 credits). To be eligible for each academic year, a student must:
- Be a U.S. citizen
- Be a Federal Pell Grant recipient
- Be enrolled full time in a degree program
- Be enrolled in the first or second academic year of his or her program of study at a two-year or four-year degree-granting institution
- Have 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)
- If a first-year student, not have been previously enrolled in an undergraduate program
- If a second-year student, have at least a cumulative 3.0 grade point average on a 4.0 scale (as set forth in regulations to be promulgated soon) for the first academic year
National SMART Grant
An eligible student may receive a National SMART Grant of up to $4,000 for each of the third and fourth academic years of study (49-120 credits, for most majors). To be eligible for each academic year, a student must:
- Be a U.S. citizen
- Be a Federal Pell Grant recipient
- Be enrolled full time in a degree program
- Be enrolled in a four-year degree-granting institution
- Major in physical, life, or computer science; engineering; mathematics; technology; or a critical foreign language
- Have at least a cumulative 3.0 grade point average on a 4.0 scale in the coursework required for the student’s major
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Loans
Loan programs provide repayable assistance to students who apply and qualify for them. Repayment terms, interest, and borrowing limits vary from program to program. Student loans are a serious and important obligation. Receipt of these funds means that you assume the legal responsibility for repayment of the loan at a future date.
It is important to know the terms and conditions under which you borrow student loan funds. Check the promissory note in order to learn the specific conditions and terms of your particular loan program.
Nonrepayment of loan funds in the future can have serious consequences for you. Debt management information can be supplied for those interested in projecting future indebtedness and repayment. There are community service opportunities which may repay a portion of your student loan obligation.
IUP’s Student Lending Code of Conduct
IUP is committed to providing students and their families with the best information and processing alternatives available regarding student borrowing. In support of this and in an effort to rule out any perceived or actual conflict of interest between IUP officers, employees, or agents and education loan lenders, IUP has adopted the following:
- IUP does not participate in any revenue-sharing arrangements with any lender.
- IUP does not permit any officer, employee, or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any gifts of greater than a nominal value from any lender, guarantor, or servicer.
- IUP does not permit any officer, employee, or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any fee, payment, or other financial benefit (including a stock purchase option) from a lender or affiliate of a lender as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to education loans.
- IUP does not permit any officer, employee, or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept anything of value from a lender, guarandor, or group of lenders and/or guarantors in exchange for service on an advisory board, commission, or other group established by such a lender, guarantor group of lenders, and/or guarantors. IUP does allow for the reasonable reimbursement of expenses associated with participation in such boards, commissions, or groups by lenders, guarantors, or groups of lenders and/or guarantors.
- IUP does not assign a lender to any first-time borrower through financial aid packaging or any other means.
- IUP recognizes that a borrower has the right to choose any lender from which to borrow to finance his/her education. IUP will not refuse to certify or otherwise deny or delay certification of a loan based on the borrower's selection of a lender and/or guarantor.
- IUP will not request or accept any offer of funds to be used for private education loans to students from any lender in exchange for providing the lender with a specified number or volume of Title IV loans, or a preferred lender arrangement for Title IV loans.
- IUP will not request or accept any assistance with call center or financial aid office staffing.
Federal Perkins Loan
The Federal Perkins Loan is funded by the federal government and administered by IUP. Eligibility is based on your financial need. To apply for this loan, you must submit the Free Application for Federal Student Aid (FAFSA) by April 15.
At IUP, approximately $200 to $3,000 per year may be borrowed by students who otherwise qualify. For new borrowers, repayment follows a nine-month grace period after ceasing half-time enrollment (six credits per term). The minimum repayment rate is $40 per month at a simple interest rate of 5 percent per year on the unpaid balance. There are deferment and cancellation privileges available.
Federal Stafford Loan
The Federal Stafford Loan application process begins when you complete the Free Application for Federal Student Aid (FAFSA) and answer “YES” to the loan interest question. A Promissory Note (MPN) will be sent to you by PHEAA to complete the loan application process. The Federal Stafford Loan program is administered by IUP in conjunction with the federal government. The cost of your education, expected family contribution, and other aid resources determine your eligibility for the loan. Students must be enrolled on at least a half-time basis at IUP in a given semester.
Although our process directs you to select your lender and complete your MPN on the aesSuccess.org website, you are free to select any participating lender/guarantor that you wish. If you do not wish to use AES as your guarantor or if you do not find a lender that you want to use on the AES MPN completion website, simply call our office at 724-357-2218 and we will assist you in determining the correct process for your lender/guarantor choice. We want to assure you that we will not refuse to certify or otherwise deny or delay certification of a loan based on your selection of a lender and/or guarantor.
A Subsidized Federal Stafford Loan is based upon financial need and requires no payment of principal or interest until six months after the student ceases half-time attendance (six credits per term). An Unsubsidized Federal Stafford Loan requires the payment of only interest during periods of enrollment and the six-month grace period while the principal is still deferred. Check with your lender to see how you will be billed for these required interest payments on an unsubsidized loan.
Undergraduate Stafford Loans: The amount of funds that a student may borrow per academic grade level from the Federal Stafford Loan program is as follows: freshmen — $3,500; sophomores — $4,500; juniors and seniors — $5,500. The maximum amount an undergraduate may borrow is $23,000. For independent students and for dependent students whose parents cannot participate in the Federal PLUS Loan program, an additional amount of unsubsidized Stafford Loan may be requested. Freshmen and sophomores may apply for an additional $4,000 and juniors and seniors may apply for $5,000. Participating in this extended unsubsidized program permits an additional $23,000 in borrowing.
Graduate Stafford Loans: Graduate students may borrow up to $20,500 each academic year (Fall, Spring, Summer). Up to $8,500 of this loan can be subsidized, depending on financial need as defined by the FAFSA. Graduate students may borrow a maximum Stafford loan (including outstanding undergraduate loans) not to exceed $138,500.
Federal Stafford Loans are disbursed in two equal installments and students are required to attend a Federal Stafford Loan Entrance Interview before receiving funds for the first time at IUP. Entrance interviews can be completed at American Education Services by selecting “Complete Entrance Counseling” under Helpful Tools on the lower left-hand side of the main page.
Federal PLUS Loans
Parents of undergraduate students and graduate students themselves (after July 1, 2006) can apply for PLUS loans by contacting PHEAA at 1-800-692-7392. A credit check will be performed by PHEAA during the call.
- If credit is approved: PHEAA will send your parent (if an undergraduate) or you (if a graduate student) a PLUS loan application to be completed and submitted to PHEAA.
- If credit is denied: (parents of dependent undergraduates students only): Forward documentation of the PLUS denial to the financial aid office at IUP. You may have additional unsubsidized Stafford loan eligibility based on this denial. Credit denial will not allow for additional unsubsidized loans for graduate students.
Amounts up to the cost of education minus Federal Stafford Loan eligibility and other aid may be borrowed if the student is enrolled on at least a half-time basis (six credits per term for undergraduates; 4.5 credits per term for graduate students). Repayment of principal and interest begins thirty to sixty days after disbursement of the loan funds. There are some limited deferment provisions available.
Begin the application process by contacting PHEAA at 1-800-692-7392 or by going on line to the PHEAA website. If you are a parent, visit Keystone Best for Parents; and if you are a graduate student, visit Keystone Best for Graduates.
Alternative/Private Loan Options
A wide variety of privately financed educational loan programs are available to IUP students and their families. Each of these programs offers unique terms and conditions that affect their availability in particular circumstances.
Some of the characteristics that you may want to evaluate include the interest rates, applications fees, credit evaluation, deferment options, repayment plans, and applicability to unique circumstances such as past-due balances, academic progress requirements, program matriculation, and citizenship qualifications.
Although this information is provided for your review, IUP does not specifically endorse any of these loan programs. It is the responsibility of you, the consumer, to assess the advantages and disadvantages of these offerings and to make your selection based upon those features that best meet your financial needs. Please know that you have the right to use the lender of your choice and are not limited to those on the list provided below.
Please allow two to four weeks processing time for these loans once the lender has notified IUP of your eligibility.
Private Education Loan Programs (Key for coding follows listing.)
Key:
<1/2: Loan program allows borrowers to be enrolled less than 1/2 time.
PDB: Loan program will assist with past-due balances. Contact Lender for specifics.
NSAP: Loan program does not require the student to make satisfactory academic progress (SAP).
N/D: Loan program allows the borrower to be enrolled in a non-degree program.
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Student Employment
Employment programs provide an opportunity for you to earn money to help finance your educational expenses. Students may be employed on campus for up to twenty-five hours per week when classes are in session and forty hours per week during nonenrollment periods. Wages for hours worked are paid biweekly directly to the student.
Students are responsible for securing their own positions on campus. The Student Employment Center (SEC) is available to assist students in finding job opportunities. Students may gain access to a listing of available positions by doing any of the following: asking to review the employment binder located in the SEC office (302 Pratt Hall, Office of Career Services), reviewing the bulletin board located outside of the SEC office, or by visiting the Student Employment Center website (twenty-four-hour accessibility). For on-campus jobs posted through the SEC, students should contact the individual departments to arrange interviews. If there is a particular area or department in which you would like to be employed, go directly to that department and inquire about potential employment. All students with work study awards are not guaranteed that they will obtain employment.
- Federal Work Study Program (FWSP)
Eligibility for FWSP is based upon financial need. Students must submit the Free Application for Federal Student Aid (FAFSA) and a Fall/Spring Federal Work Study Application. Positions are available both on campus and with local community service organizations.
- Community Service Federal Work-Study Program
This program enables students to gain practical work experience related to their major course of study. For more information regarding this program, please contact the Student Employment Center 302 Pratt Hall at 724-357-2235.
- University Employment (UE)
This program is similar to the Federal Work Study Program. However, students who do not demonstrate financial need may be employed. No financial aid application is required.
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