• Eligible U.S. citizens and permanent residents may qualify for up to $20,500 each year from the federal direct loan program.
• Students must be enrolled in a minimum of 4 units or doctoral studies/continuous registration in order to be eligible for federal aid.
• Repayment begins six months after the borrower graduates, leaves school, or drops to less than half-time enrollment (under 4 units).
• First-time federal direct loan borrowers are required to show evidence of completing a loan counseling session before their funds will be disbursed. You may satisfy this requirement by completeing the on-line entrance counseling questionnaire.
Federal Direct Unsubsidized (Stafford) - (currently 6.21% fixed interest) - The Federal Direct Unsubsidized Loan (Stafford) is available to graduate/doctoral students regardless of need. The student is responsible for the interest on the loan, which begins to accrue at the time of disbursement. The federal limit per academic year is $20,500. On-line entrance counseling and a promissory note are required. An origination fee of 1.072% is deducted from the loan proceeds prior to disbursement, which means that if you are offered $20,500 in federal direct loans, you will net approximately $20,300 (usually to be split between two semesters, depending on enrollment).
Federal Direct Grad PLUS - (currently 7.21% fixed interest) is a credit-based loan that allows students the opportunity to borrow up to their cost of attendance, minus any financial aid received (loans and fellowships). The loan has an origination fee of 4.288 %, which is assesed by the lender and is deducted from the original loan amount prior to the funds being released to the school to credit a student's account. A separate promissory note is required.
You must be enrolled in at least four degree-seeking units OR doctoral studies/continuous registration in order to apply for any type of federal funding and have completed a current FAFSA.
Federal Work Study is designed to provide assistance to students in meeting their educational costs while enrolled at CGU by providing employment opportunities both on and off-campus. Hourly pay rates vary depending upon the individual employer and type of work performed. Receiving a work-study award does not guarantee employment. Awarded students are eligible to interview for available positions. Current listings of open positions are posted in the Office of Student Financing. Priority is given to those students who meet the financial aid priority deadline of March 2, 2014.