| Federal
Programs
Federal Pell Grant Program
Eligibility for a Pell Grant is based on the Expected Family Contribution that is calculated from the information provided on the Free Application for Federal Student Aid (FAFSA). The Central Processor sends the student a Student Aid Report in response to the submission of a FAFSA. The Expected Family Contribution is listed on the Student Aid Report if the FAFSA was properly completely. A Federal Pell Grant, unlike a loan, does not have to be repaid.
Pell Grants are restricted to students pursuing their first undergraduate degree and are prorated if a student is enrolled for fewer than 12 credits each semester. A student may not receive a Pell Grant from more than one college for the same period of time.Funding for the Pell Grant program is subject to congressional appropriations. Therefore, the range of specific award amounts may change each academic year.
Federal Supplemental Educational Opportunity Grant (FSEOG)
Institutions are given a restricted amount of SEOG funds each academic year by the U.S. Department of Education. William Paterson University awards undergraduate students SEOG based upon exceptional financial need as demonstrated through the Free Application for Federal Student Aid (FAFSA). Priority is given to students who receive Federal Pell Grants. Since funds are limited, it is important to file the FAFSA by April 1st
Federal Family Educational Loan Program (Stafford)
Federal Stafford Loans are the department's major form of self-help aid and are available through the Federal Family Education Loan (FFEL) Program. You must have a valid FAFSA on file, be enrolled at least half-time in a degree granting program and maintaining satisfactory academic progress to receive Stafford loans.
Subsidized vs. Unsubsidized Stafford loans
A subsidized loan is awarded on the basis of financial need. The federal government pays interest for the loan ("subsidizes" the loan) until you begin repayment and during authorized periods of deferment.
An unsubsidized loan is not awarded on the basis of need. You'll be charged interest from the time the loan is disbursed until it is paid in full; however, you have the option of paying that interest while in school or deferring that interest until you go into repayment on the loan.
If you are a dependent student, your combined subsidized and unsubsidized Stafford annual eligibility is as follows:
| Freshman | Sophomore | Junior | Senior |
| $3,500 | $4,500 | $5,500 | $5,500 |
If you are an independent student, your subsidized and unsubsidized Stafford annual eligibility is as follows:
| - | Freshman | Sophomore | Junior | Senior |
| Subsidized | $3,500 | $4,500 | $5,500 | $5,500 |
| Unsubsidized | $4,000 | $4,000 | $5,000 | $5,000 |
| Total | $7,500 | $8,500 | $10,500 | $10,500 |
Federal Family Educational Loan Program (Plus)
Federal Plus loans are available to parents of dependent undergraduate students who have a valid FAFSA on file, are enrolled at least half-time, and are maintaining satisfactory academic progress. Parents must be a U.S. Citizen or eligible non-citizen and must have adverse credit history. The interest rate is fixed at 8.5% and borrowers are responsible for all interest on the loan. Please be advised that there is a 3% origination fee on these loans. Repayment begins 60 days after the second disbursement on this loan.
Federal Perkins Loan Program (PERK)
A Federal Perkins Loan is a low-interest (5 percent) loan awarded to students with exceptional financial need as determined by William Paterson University. Priority is given to those that have filed by the priority deadline of April 1, are Pell eligible and are residing in the dorms at William Paterson University. Your school is your lender and the loan is made with government funds. You must repay this loan to your school. The repayment period begins and interest starts to accrue on the loan beginning at the end of your grace period.
Federal Work Study Program (FWS)
College Work Study provides jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student's course of study. Visit our Student Employment link from our home page for more information.
Academic Competitiveness Grant (ACG)
An Academic Competitiveness Grant will provide up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study to full-time students. Students must have completed a rigorous secondary school program to be eligible. Second year students must maintain a cumulative grade point average (GPA) of a least 3.0. The Academic Competitiveness Grant award is in addition to the student’s Pell Grant award.
SMART Grant
The National SMART Grant will provide up to $4,000 for each of the third and fourth years of undergraduate study to full-time students. The student must maintain a cumulative grade point average (GPA) of a least 3.0 in coursework required for the major and must be pursuing an eligible major in physical, life or computer sciences engineering, technology, mathematics or a critical-need foreign language. The National SMART Grant is in addition to the student’s Pell Grant award.
The Financial Aid Office at William
Paterson University
300 Pompton Road, Wayne, NJ 07470
Tel: 973.720.2202 - Fax: 973.720.3133
http://ww2.wpunj.edu/finaid/famain.htm
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