Types of Financial Aid
A federal grant program for needy students who have not received a baccalaureate or professional degree; administered by the U. S. Department of Education. This grant is awarded based on the EFC from the SAR.
Alcorn State University Pell Cross-Over Term Policy – Summer 2010
Students will receive Pell Awards from their second scheduled awards after they have exhausted funds from their first scheduled awards.
Students must be enrolled at least half time to receive a Pell Award from their second scheduled award.
Cross-Over Payment Period
Students Pell Awards will be awarded based on the EFC calculationfrom the students’ 2009-2010 Free Application for Federal Student Aid (FAFSA).
Acceleration – Academic Year Progression
Academic year progression will not be considered in the calculation of a student’s second scheduled Pell Award.
Effective Pell Cross-Over Term period Summer 2010 only.
- Federal Supplemental Educational Opportunity Grant (FSEOG):
One of the campus-based programs; grants for students with exceptional financial need who have not completed their first baccalaureate degree. Priority for FSEOG awards must be given to Federal Pell Grant recipients with the lowest EFC's.
- Teacher Education Assistance for College and Higher Education (TEACH):
The U.S. Department of Education's Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides grant funds to postsecondary students who are completing or planning to complete coursework that is needed to begin a career in teaching, and who agree to serve for at least four years as a full-time, highly qualified teacher in a high-need field, in a school serving low-income students. Eligible full-time students may receive $4,000 per year in TEACH Grant funds, up to a maximum of $16,000 for undergraduates and post baccalaureate study, and $8,000 for graduate study. More details can be found on Federal Student Aid's TEACH Fact Sheet.
Non-black students that meet board requirements are eligible to apply for a diversity grant in the amount of $700 per semester (prorated if less than full time). Priority will be given to main campus (Lorman) students. All recipients must meet the following criteria: (1) Be Non-black, (2) Enroll in a degree granting program, and (3) Meet Board approved requirements for admission.
- Federal Work-Study (FWS):
One of the campus-based programs; a part-time employment program which provide jobs for undergraduate and graduate students who are in need of such earnings to meet a portion of their educational expenses.
- Direct Stafford Loan (subsidized and unsubsidized):
Long term, low interest loans administered by the Department of Education through the William D. Ford Loan Program. Variable interest rate, not to exceed 8.25%. Unsubsidized Federal Stafford Loans may be used to replace the EFC.
Long-term loans made available to parents of dependent students. Interest rates are variable, not to exceed 9%. May be used to replace the EFC; amount borrowed is limited to the cost of attendance minus estimated financial assistance.
- DC Tuition Assistance Grant Program:
For District residents who attend PUBLIC colleges or universities throughout the United States, the program will pay the difference between in-state and out-of-state tuition of up to $10,000 per year, with a lifetime cap of $50,000 per student. For further information contact the DC Tuition Assistance Grant Program Office at (202) 727-2824 or http://www.tuitiongrant.washingtondc.gov/main.htm
The State of Mississippi offers various scholarships, loans and grants. For additional information and application visit their website at www.mississippi.edu.
- Mississippi Resident Tuition Assistance Grant (MTAG):
Administered by Mississippi Post-Secondary Board, full-time students with high school and/or college GPA of 2.5 & ACT score of 15. Must be a resident of Mississippi for 1 year prior to enrollment.
- Mississippi Eminent Scholars Fund (MESG):
Incoming freshman with high school GPA of 3.5 and ACT score of 29.
- Academic - awarded through the office of Admissions and is based upon GPA and/or ACT. Students receiving renewable academic scholarships are evaluated at the end of each spring semester to determine if they are eligible for continuation of the scholarship into the next academic year. The Office of Financial Aid will verify GPA requirements to determine if student is eligible to receive scholarship for the next academic year (academic scholarships are awarded for 4 years or 8 semesters). All academic scholarship awards are subject to the following conditions.
Full academic scholarship recipients must maintain the required cumulative grade point average of 3.50 or higher. Any scholarship recipient who does not maintain the required GPA will have scholarship reduced if the GPA is between 3.00 – 3.49 (contact the Office of Financial Aid concerning reduction chart). If full scholarship recipient falls below a 3.00 – scholarship will be terminated for the duration of matriculation at ASU.
Partial academic scholarship must maintain the required cumulative grade point average of 3.00 or higher for scholarship to be renewed for the next academic year. If partial scholarship recipient falls below a 3.00 – scholarship will be terminated for the duration of matriculation at ASU.
- Service - awarded through Band, Athletics, Music, ROTC, etc... (For Additional Service Scholarships information, please conctact the Department of Interest directly). If a student receives two or more scholarships (academic and service) the total award will be adjusted to reflect the cost of Tuition/Room/Board/Books.
- ASU Foundation, Inc. - awarded based upon availability of funds and scholarship criteria.