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Grants do not require repayment. They are awarded to undergraduate students (working on first bachelor's degree) who demonstrate financial need. The grants listed here are coordinated and administered by the Office of Scholarships and Financial Aid. Pell Grants are awarded based strictly on the student's family Expected Family Contribution (which is generated by filing the FAFSA). Federal Supplemental Education Opportunity Grants (SEOG) SEOG funds are awarded on a first-come basis to Pell eligible undergraduate students on the basis of financial need. These funds are awarded to students directly by the University and are limited to the funds allocated to the University by the U.S. Department of Education. The University of Delaware awards a number of scholarships and grants based on student need, as well as academic performance. The Federal Perkins Loan program gives priority to students with exceptional need. The current interest rate is five percent. These funds are awarded on a first-come basis to qualified applicants who have filed the FAFSA in a timely manner. For information regarding Exit Counseling, Deferment, Replayment, or Cancellation of a Federal Perkins or Nursing Loan please contact: University Accounting Services
Student loan programs offer long-term, low-interest educational loans, which require repayment. Students should carefully consider the amount of debt they incur and recognize their future financial obligations. Like any other debt, a student loan is a serious financial obligation.
Federal Direct Subsidized and Unsubsidized Loans The Federal Direct Loan program enables students to borrow money directly from the Federal government. The maximum amount a freshman student can borrow is $3,500 per year, a sophomore $4,500 per year and $5,500 per year for subsequent undergraduate study. The total amount that undergraduates can borrow is $23,000. Graduate and professional students may borrow up to $18,500 per year. The total maximum amount outstanding for graduate or law students is $65,500 and $138,500 max total. The Parent Loan for Undergraduate Students (PLUS) program assists eligible parents in meeting educational expenses. The Federal Direct PLUS program allows parents to borrow up to the cost of education minus other resources. The interest rate for any loan for which the first disbursement is made after July 1, 1994, is variable but cannot exceed nine percent. An origination/insurance fee not to exceed four percent is deducted from the disbursed amount. Your parents are required to begin repayment within 60 days after the loan is fully disbursed. If a parent is not eligible to receive to a PLUS loan due to extenuating circumstances, such as bad credit or financial hardships, the student is eligible to borrow an additional $4000 to $5000 (depending on number of credits) in unsubsidized loan money. If you wish to apply for a Federal Direct PLUS Loan please download the application from our Downloadables page and download the application there. Federal Work Study (CWSP & DSEP) The Federal Work-Study Program (FWSP) provides part-time jobs during the academic year for students who have financial need and who must earn a part of their educational expenses. Jobs may be on or off campus with a public or private nonprofit agency including jobs in community service areas. Salary will be no less than the current minimum wage and will also be associated with the type of work performed and skills required. At the college work study office In the Student Services Building students may view and apply for current jobs. Jobs may also be found at the Career Services Center.
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