Other Aid
Some quick definitions can help you decipher the world of college aid.
- Grants - free money. No payback. (You gotta love grants!)
- Subsidized loans - need-based money that you have to pay back, but the government covers the interest while you’re in school.
- Unsubsidized loans - loans available to everyone regardless of financial need, but you are responsible for the interest.
- FAFSA - Free Application for Federal Student Aid.
The FAFSA is your pathway to federal aid as well as many college and state aid programs. Be sure to enter Nebraska Wesleyan’s school code: 002555.
Here’s a glimpse of what’s out there for grants and loans.
Grants
Pell Grant
- Up to $4,731 per year
- Eligibility determined from FAFSA
Federal Supplementary Educational Opportunity Grant
- Range from $200 to $750 per year, and average about $300
- Must be Pell Grant eligible
Nebraska State Grant
- Amounts vary according to state appropriations
- Must be a Pell Grant eligible Nebraskan
Academic Competitiveness Grant
- $750 for first year students; $1,300 for sophomores
- Must be Pell Grant eligible, have completed a rigorous high school program of study, and maintain at least a 3.0 GPA
SMART Grant
- $4,000
- Must be a Pell Grant eligible junior or senior with at least a 3.0 GPA and a major in physical or life sciences, computer science, engineering, mathematics or technology
Loans
Federal Perkins Loan
- Average $1,300 per year
Subsidized Federal Stafford Loan
- Up to $3,500 for first year student
Unsubsidized Federal Stafford Loan
- Students ineligible for a Federal Stafford Loan may borrow similar amounts each year through this unsubsidized program
- Due to recent Federal legislation, all students who filed a FAFSA are eligible for an additional $2,000 in unsubsidized Stafford Loan funds
Parents' Loan for Undergraduate Students
- Up to the cost of education, minus other financial aid