EFFECTS OF FEDERAL COLLEGE WORK STUDY
ON FEDERAL DIRECT LOAN ELIGIBILITY
Students are eligible for federal financial assistance from all sources of aid up to the Total Cost of Attendance. Therefore,
your Direct Student Loan eligibility is determined by subtracting all available aid awarded to you from the cost of
attendance. You are eligible to borrow the difference up to federal student loan maximums.
Total Cost of Attendance (in state resident) = $12,783
Student/Family Contribution = $ 1,000
TOTAL NEED = $11,783
EXAMPLE AWARD PACKAGE
With
Financial Aid Offered:
Federal Pell Grant =
Scholarship =
Federal SEOG Grant =
Federal College Work Study =
Federal Unsubsidized Direct or Parent PLUS Loan =
TOTAL AID OFFERED =
Federal College
Work Study
$ 5,775
$ 2,208
$ 800
$ 3,000
$ 1,000
$12,783
If student declines Federal College Work Study, the Direct Loan would increase to:
Total Cost of Attendance (in state resident) = $12,783
Student/Family Contribution = $ 1,000
TOTAL NEED = $11,783
EXAMPLE AWARD PACKAGE
Without
Financial Aid Offered:
Federal Pell Grant =
Scholarship =
Federal SEOG Grant =
Federal Subsidized Direct Loan =
Federal Unsubsidized Direct or Parent PLUS Loan =
TOTAL AID OFFERED =
Federal College
Work Study
$ 5,775
$ 2,208
$ 800
$ 3,000
$ 1,000
$12,783
According to the federal formula, if additional aid becomes available to you at a later date, your Direct Loan eligibility
would be decreased by the total amount of the additional aid offered. Total Cost of Attendance represents your
maximum aid eligibility from all sources.
FEDERAL DIRECT STUDENT LOAN PROGRAM ANNUAL MAXIMUMS
FRESHMAN LEVEL LOAN
(0 – 29 earned credits):
SOPHOMORE LEVEL LOAN
(30+ earned credits):

Dependent Student - maximum of $5500
$3500 subsidized and/or unsubsidized + $2000 additional unsubsidized
 Independent Student - maximum of $9500
$3500 subsidized and/or unsubsidized + $6000 additional unsubsidized
 Dependent Student - maximum of $6500
$4500 subsidized and /or unsubsidized + $2000 additional unsubsidized)
 Independent Student - maximum of $10,500
$4500 subsidized and /or unsubsidized + $6000 additional unsubsidized)
Subsidized: Federal government pays the interest.
Unsubsidized: Student is responsible for the interest.
Revised 9/3/15 mjs