Self Help

Work Study Program and Loans

Federal Work Study

Student employment funded by Sage and the government. The jobs are in a variety of areas, primarily on campus (examples are the libraries, campus centers, food services, offices and departments), are usually limited to 7-10 hours per week, and generally pay at the prevailing federal minimum wage or slightly above.

Perkins Loans

Administered by the college, these need-based loans up to $2,000 per year for undergraduate study. The interest rate is currently fixed at 5%.

Stafford Loans

Available through lenders such as banks, credit unions and savings and loans, these loans range in amounts from $2,625 to $5,500 annually based on the student's class level. Insurance and origination fees of approximately 3% are removed from the gross amount before disbursement. For students demonstrating financial need, the loan is subsidized, with interest paid for them during school enrollment. The loan is also available on an unsubsidized basis for those without need, but interest is paid during school enrollment. Graduate and self-supporting students are eligible to borrow more than the above amounts. The interest rate is variable, but cannot exceed 8.25%.

Plus Loans

Available to parents of dependent students, with the maximum amount available the cost of education less any financial aid received. These loans are not need-based and interest is paid from the time the loan is disbursed. The interest rate is variable, but will not exceed 9%.