The Pell Grant is a federal grant, designed to assist financially eligible students with the cost of attending college. A Pell Grant does not have to be paid back. To receive a Pell Grant, the student must meet all the eligibility requirements, and be an undergraduate who does not have a bachelor's degree. If a student receiving a Pell Grant withdraws from college before completion of 60% of the semester, the student may be required to forfeit monies to the college and/or the Federal Government.

The Supplemental Educational Opportunity Grant (SEOG) is for students who demonstrate exceptional financial need. The SEOG does not have to be paid back. To receive an SEOG, a student must meet all the eligibility requirements, and be an undergraduate who does not have a bachelor's degree. Limited funds are available and are awarded on a first-come, first-serve basis to students enrolled at least half-time (6 credits). Awards range from $100 to $1,000 per year. If a student receiving a SEOG withdraws from college before completion of 60% of the semester, the student may be required to forfeit monies to the college and/or the Federal Government.

Federal Work-Study Program (FWSP) gives students an opportunity to earn money for educational expenses by working at a part-time job. Students typically work as lab, library, and office aides, under the supervision of a faculty or staff member; off-campus positions are also available. Students are paid at least the current federal minimum wage and are required to sign a confidentiality agreement and to perform assigned work in a responsible and professional manner. Students must meet their course requirements prior to working a work-study job. In most cases, work-study hours are limited to 12-15 hours per week.

Work-study recipients must meet all the eligibility requirements, including demonstrated financial need.

Perkins Loans are low-interest loans, made directly through the college with funds from the federal government and the repayment of previous borrowers. Students may borrow up to $3000, depending on the availability of funds. Repayment begins and interest accrues six months after the borrower is no longer a half-time student. Students must meet the eligibility requirements, including demonstrated financial need, and must be enrolled at least half-time (6 credits). Students receiving a Perkins loan will be required to do loan counseling and to sign a promissory note.

If a student receiving a Perkins loan withdraws from school before 60% of the semester is completed, the student may be required to repay monies to the college.

Stafford Loans are low-interest (6% and 6.8%) loans made to students by private lenders. 1st Year Students (31 or less credits achieved) may borrow up to $3,500 per academic year. 2nd Year Students (32 or more credits achieved) may borrow up to $4,500 per academic year. Repayment begins six months after the borrower is no longer a half-time student. In the case of subsidized loans, interest begins to accrue six months after the borrower is no longer a half-time student. If a student receiving an Stafford Loan withdraws from college before completion of 60% of the semester, the student may be required to forfeit monies to the college and/or the Federal Government.

Subsidized Stafford Loans do not accrue interest while the student attends college.
Unsubsidized Stafford Loans do accrue interest while the student attends college.

All Stafford borrowers must meet all the eligibility requirements, be enrolled at least half-time (6 credits,) do loan counseling and sign a promissory note. Subsidized Stafford loans are only awarded to students demonstrating financial need on the FAFSA. Unsubsidized loans are offered regardless of financial need.

The Federal Parent Loans for Undergraduate Students (PLUS) program provides funds to the parents of dependent students, for educational purposes. Parents may borrow up to the student's cost of attendance, less any financial aid. The annual interest rate for these loans is fixed at 8.5%.

The student who is a dependent of the borrower must meet all the eligibility requirements, and must be enrolled at least half-time (6 credits). The borrower will be required to sign a Promissory Note.

New Hampshire Incentive Program (NHIP) provides grants for New Hampshire residents attending college within or outside the state of New Hampshire. Applicants must be at least half-time students (6 credits) and must meet the eligibility requirements, including demonstrated financial need. The application deadline is the May 1 prior to the start of the academic year.

Alternative Loans are student loans made by private lending institutions. Alternative loans are in the student's name; a cosigner is frequently required. Once a complete application has been received, the lender will perform a credit check and inform the student if the loan is approved, if a co-signer will be required, and the interest rate. Just like other student loans, alternative loans must be repaid.

Scholarships from institutional, federal, state and private sources are available for use at Great Bay Community College. In addition to the Pell and Supplemental Educational Opportunity Grant Programs administered by the Financial Aid Office (603-427-7610 or askgreatbay@ccsnh.edu ) there are many other sources of scholarship or grant aid. These programs all have their own eligibility, application, and/or deadline requirements. Many are restricted and some are very competitive, but they are all worth investigating

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