Students need to complete the Free Application for Federal Student Aid (FAFSA), turn it in and the government will determine whether or not you qualify for aid. Financial Aid comes in the form of Grants, Work Study, Federal Perkins Loans, and Stafford Loans. The loan application can be completed online athttp://www.fafsa.gov/. If you can not complete an online application you may call 1-800-433-3243 and request a paper application. The government will use your income tax information to determine eligibility for federal aid.They will develop a pin number and will be able to update any information regarding their federal aid at any time. There will be a meeting for all students at Craig High School in the small auditorium on Wednesday, January 14 at 6:30 pm.
- Federal Pell Grant
This is money awarded that does not have to be paid back to the government. These grants are awarded to undergraduate students who have not earned a bachelor degree.
- Federal Supplimental Education Opportunity Grant
This grant is a gift aid for undergraduate students who have exceptional financial need.
- Grants from universities and colleges usually come in the form of scholarships.
Federal Work Study
The school will find work on campus for students who apply for work study. This work is on a part time basis. They are available to both undergraduate and graduate students. Often these jobs are in the book store, library, computer labs, the cafeteria, and working in an academic department. (You must be on financial aid to qualify for work study.)
Federal Perkins Loans
These are loans with low-interest for students with exceptional financial need. Both undergraduate and graduate students can apply for this type of loan through their financial aid office at the school they attend.
- Direct Loans
The funds for this loan come directly from the Federal Government. The Four UW schools who use this particular loan are; UW- Eau Claire, UW-Milwaukee, UW-Superior, and UW-Whitewater. The government gives these schools the financial aid and the school takes what is needed for tuition. The student communicates with their financial aid office on campus regarding the loan. The Private Schools in Wisconsin who use this type of loan are; Concordia University, Lawrence University, Marquette University, Northland College, and Saint Norbert College.
- Subsidized Loans
This type of loan repayment will begin 6 months after graduation, or when a student does not continue going to school. The interest is paid while the student is in school.
- Unsubsidized Loans
This loan is usually for non-need based conditions. The interest does accumulate while the student is in school. This type of loan can be borrowed beyond the subsidized loan.
- Federal Family Education Loan
The funding for this loan comes from lenders other than the federal government such as; a bank, credit union etc.
Please note: the interest rates on Federal Loans are variable, and will never exceed 8.25%