Types of Federal and State Aid
Federal Campus Based Programs
Federal Pell Grant: This grant is the need-based foundation of the federal financial aid program. Apply with the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. A student with a FAFSA EFC (Expected Family Contribution) of $0 to $5,711 will be eligible for a Pell Grant. Eligible full time students may receive from $639 to $6,345 toward educational expenses. Grants do not have to be repaid. Pell Grants, as an entitlement program, are available regardless of when the FAFSA is filed during the year, up to the last class day of that academic year.
Federal Supplemental Educational Opportunity Grant (SEOG): This grant is administered by the college under the guidelines of federal policy as the funds are available. Eligible students who need additional assistance may receive $500 to $1,000 for their educational expenses, with Pell Grant recipients being given first consideration. In order to be eligible for consideration, the student must submit a FAFSA Application.
Federal TEACH Grant: This grant totals $4000 a year. In exchange for receiving a TEACH grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. As a recipient of this grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH grant. IMPORTANT: If you fail to complete service obligation, all amounts of TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) were disbursed. Please see Student Financial Services for details about student eligibility requirements and approved teaching programs.
Armed Forces Benefits: Eastern Nazarene College works closely with our active armed forces, veterans, and ROTC programs. We work with our service members to maximize their benefits at ENC. We are an accredited college that qualifies for receiving all benefits offered by the government to private colleges. ENC fully participates in the Yellow Ribbon Program and gives full tuition and fees to eligible students who qualify.
Federal Work Study: Federal Work-Study (FWS) provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses. Work-Study jobs can help you get valuable experience in your chosen field before you leave school. Student’s earn Massachusetts minimum wage in campus jobs. Students may work up to 20 hours per week. If there is a dollar amount of work-study shown on your award letter, this amount reflects an estimated amount that could be earned if you choose to work. This money must be earned and is not available as a credit at the time of registration.
Federal Direct Loans
All students who wish to borrow through Federal Direct Loans must be enrolled in school at least half time in order to receive Federal Aid. In order to be eligible for federal loans, you must complete the FAFSA.
A Subsidized Federal Direct Loan is a federal loan that must be repaid. Ability to participate in the Subsidized Federal Direct Stafford Loan Program is based on calculated need as determined by the FAFSA. The interest rate is fixed fixed at 2.75% in addition to a 1.057% loan fee. “Subsidized” means that the interest on this loan is paid by the government while the student is enrolled in school. The student does not pay interest until he/she is no longer attending.
An Unsubsidized Federal Direct Loan is also a federal loan that must be repaid. If a student is not eligible for the Subsidized Federal Direct Loan, as determined by the results of the FAFSA, an Unsubsidized Federal Direct Loan can be an alternative. “Unsubsidized” means that interest will accrue while the student is in school. The student can choose to pay the interest while in school or defer the interest and have it added to the principal balance. The interest on this loan is also fixed at 2.75% in addition to a 1.057% loan fee
Direct PLUS Loan is a federal loan that is available to parents of dependent undergraduate students that must be repaid. The interest rate is fixed at 5.30%, with a 4.228% loan fee withheld by the government prior to disbursement. The loan decision is based not on credit score, but on the absence of negative credit events such as bankruptcy. The borrower can apply for the loan at https://studentaid.gov and will also be required to complete a PLUS Master Promissory Note at the same website. The applicant can borrow up to the cost of attendance, minus other financial aid. If you are a parent borrower, you may start making payments on your PLUS loan once your loan is fully disbursed (paid out). However, on the PLUS application you may request a deferment while your child is enrolled at least half-time and for an additional six months after your child graduates.
Several states provide grant and scholarship money that can be applied towards educational purposes. Some states do not allow their funds to be used out of state. ENC may not receive notification of the award until after school begins. Consequently, students should be aware that aid may be adjusted when the official notification is received from the state agency. Generally only the FAFSA is required for students to be considered; however, some states may require other forms. Students should check with their state Department of Education or local secondary school guidance office on this matter. State deadlines can be as early as March 1. May 1 is the application deadline for many state grant programs, however, students should check the Deadlines for State Student Aid section of the FAFSA instructions to be sure about state deadlines.
The states offering reciprocal grants with Massachusetts are Pennsylvania and Vermont.
Rights and Responsibilities
Students receiving federal and state financial aid must be aware of the following rights and responsibilities.
You Have the Right to Know
- The financial aid programs that are available and the eligibility requirements that pertain to each of these.
- The deadlines for submitting application forms.
- How financial aid awards are determined.
- How the costs for tuition, room and board, books and supplies, travel, personal and miscellaneous expenses are considered in establishing the cost of education.
- The data (parental income, parental assets, student income, student assets, household size, etc.) that were considered in determining your expected family contribution.
- The college’s refund policy.
- What portion of the financial aid is grant aid, and what portion must be repaid.
- If you withdraw from the college after a semester is in session and have received any type of federal student aid (Pell, loans, FSEOG), ENC is required to return some or all of your federal student aid back to the government. Other aid, such as state, institutional, and private loans may also be reduced/returned.
- How the college determines satisfactory academic progress, and the consequences for financial aid when the standards have not been satisfied.
- The appeal process to follow, when you question a decision that has been made or wish to present an extenuating circumstance.
You Have the Responsibility to
- Complete applications and promissory notes and submit them on time to the appropriate location.
- Return all additional documentation, verification, corrections and/or new information requested by the Office of Student Financial Services.
- Provide accurate information. In most instances, misrepresenting information on financial aid application forms is a violation of law and may be considered a criminal offense that could result in indictment under the U.S. Criminal Codes.
- Read and keep copies of all forms signed.
- Notify the Office of Student Financial Services about the following:
- Changes in name
- Changes in factors used to determine financial aid eligibility, including residency, housing plans, marital status, number of dependents, and academic major
- Other sources of financial aid received during the period covered by the award letter
- Reduction in credit hours during a semester
- Withdrawal from the college after a semester is in session