Here are some things that you might want to know about

$TUDENT FINANCIAL AID

There are basically 3 Types of need based aid:

Grants, Loans, and Work-study

below is a brief description of each of these types of money

Pell Grant: Maximum for 2004-05 = $4,050 Undergraduates only Need based Does not have to be repaid * If your EFC is less than 3850 you will recieve at least a $400 Pell Grant. If your EFC is 0 you will recieve the maximum Pell Grant.

Federal Stafford Loan: First year undergraduate maximum = $2,625 Increases to maximum of = $5,500 Interest rate does not exceed 8.25% Repayment begins 6 months after graduation *If you qualify for subsidized loan, the government pays the interest while you are in school, during the 6-month"grace period", and during any deferment periods.You are responsible for paying all of the interest that accrues on an unsubsidized Stafford Loan.

SEOG: This grant is for undergraduates only = $100-4,000 It is need based and awarded by school (at WCU about $2,200) Does not have to be repaid

Federal Work-Study: Campus jobs for undergraduates, pay minimum wage. These are need based and do not have to be repaid.

Perkins Loans: Low-interst (5%) loans: (max loan for an undergraduate student) = $4,000 These are need based (max loan for a graduate student) = $6,000 Must be repaid.

Federal PLUS Loans: These Loans are made to parents Maximum loan amount is based on your ability to repay. Repayment begins immediately.

OTHER SOURCES: