Most federal student aid is need-based, taking into account an expected family contribution (EFC). Need-based financial aid comes in three basic types:
- Grants and scholarships (Gift Aid) , which are considered gift aid and generally don't have to be paid back (sometimes a repayment is required if a student withdraws);
- Work-study (Self Help) , which is money that you earn by working part-time while in school; and
- Loans (Self Help) , which are funds that you (or your parent) borrow and must be paid back, usually after you leave school.
Click on the following detailed descriptions to find out what aid program is best tailored for your situation.
Federal Pell Grant Program
This is a grant program which does NOT
require repayment. To apply you have to fill out the FAFSA
annually. The annual minimum and maximum vary (for 2011-2012 there is a tentative $5500 max that is subject to change). You are eligeble if you are an undergraduate student and you do NOT have a baccalaureate or professional degree. Program eligibility is based on need.
Federal Supplemental Education Opportunity Grant (FSEOG)
This is a campus based grant program where funds are awarded by the institution. Repayment is NOT required. To apply you have to fill out the FAFSA
annually. There is a $100 minimum and a $4000 maximum with no aggregate limit. You are eligeble if you are an undergraduate student and you do NOT have a baccalaureate or professional degree. Note: First priority is given to Federal Pell Grant recipients with "exceptional financial need" (defeined by law).
Federal Work Study
This is a campus based employment program where funds are awarded by the institution. Repayment is NOT required. To apply you have to fill out the FAFSA
annually. There is a $2000 award given and this is available for undergraduate students. Program eligibility is based on need.
Direct Student Loan - subsidized and Unsubsidized Stafford Loans
This is a loan program where cessation of at least half-time enrollment; deferment possible; no interest subsidy on unsubsidized loan. There is a 6.8% fixed intrest rate with this type of loan. Ina addition to the general stdudent eleigibility requirements, the FAFSA is required annually and the MPN is obtained from FFEL school or lender. The aggreagate amounts are as follows:
- $3,500 1st year undergraduates
- $4,500 2nd year undergraduates
- $5,500 each remaining undergraduate year
- Annual limits prorated for programs and remaining periods of enrollment less han an academic year $8,500/year for graduate and professional students
- $31,000 undergraduate aggregate limit
- $65,500 combined undergraduate and graduate aggregate limit
Eligibility for this program is undergraduate and graduate students enrolled at least half-time. Must first have determination of eligibility/ineligibility for Federal Pell Grant. Must determine eligibility for subsidized Stafford Loan before determining eligibility for unsubsidized Stafford Loan. Interest subsidy based on need. Unsubsidized funds may be used to replace EFC.
* Please Note:The combination of the Full-Tuition Scholarship Award, State of Indiana SSACI grants or scholarships, Federal grants or scholarships, and private grants or scholarships will equal full tuition at Trine University. Due to this some of the institutional awards can be reduced. This policy also applied to a student who receives a combination of Trine awards, Federal awards and State Awards that exceed the cost of tuition, we will reduce aid accordingly. Outside scholarships that are tuition specific will need to adhere to this same policy.