Eligibility for financial aid is based on the results of the Free Application for Federal Student Aid (FAFSA) form. The following aid programs are available at PSC.

GRANTS

Grants, unlike loans, do not have to be repaid. Grants are awarded to undergraduate students with exceptional financial need. Students who have already earned a bachelor’s degree are not eligible for grants. Grant eligibility is based on family income, family size, assets, and other information submitted on the FAFSA form.

The following types of grants are available:

• Federal Pell Grant

• Federal Supplemental Education Opportunity Grant (SEOG)

• Nebraska Scholarship Grant (NSG)

• Student Support Services Grant (SSS)

LOANS

Several loan programs are available to assist students with the cost of their education. Students must be enrolled on at least a ½ time basis to be eligible for loans. Stafford loan repayment begins six months after the student exits school or drops below ½ time enrollment. PLUS loan repayment begins 60 days after the loan is fully disbursed.

The following loan programs are available:

• Federal Stafford Loan (for students) – interest rate is 6.8%

• Federal PLUS Loan (for parents) – interest rate is 8.5%

WORKSTUDY

The Federal Workstudy Program is a need-based financial aid program that provides part-time employment for students. The program helps students meet their educational expenses by working rather than incurring a heavy burden of student loan debt. In addition, the program can provide valuable work experience.

SCHOLARSHIPS

Peru State College offers a wide range of scholarships. Awards are based on academic achievement, financial need, leadership and special abilities (athletics, art, music).