| Federal Student Aid Program |
Type of Aid |
Program Details |
Annual Award Amounts |
| Federal Pell Grant |
Grant: Does not have to be repaid. |
Available almost exclusively to undergraduates; all eligible students will receive the Federal Pell Grant amount for which they qualify |
Ranges from $400 to $4,050 for 2006-07 |
| Federal Supplemental Educational Opportunity Grant (FSEOG) |
Grant: Does not have to be repaid. |
For undergraduates with exceptional financial need; priority is given to Federal Pell Grant recipients; funds depend on availability at school |
At SJC, average award is $1000 for two semesters |
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Federal WorkStudy
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Money is earned while attending school; does not have to be repaid. |
Student must have financial need; jobs can be on campus or off campus; students are paid $6.55/hour |
At SJC, average award is $2000 to $4000 for two semesters. Amount varies based on student eligibility. |
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State WorkStudy
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Money is earned while attending school; does not have to be repaid. |
Student may or may not have financial need; jobs can be on campus or off campus; students are paid $6.55/hour. |
At SJC, average award is $2000 to $4000 for two semesters. Amount varies based on student eligibility. |
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* Federal Subsidized Stafford Loan
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Loan: Must be repaid and student must be enrolled in at least six credits. |
Subsidized: Interest is paid by U.S. Department of Education while borrower is in school and during grace and deferment periods. The interest rate is variable, adjusted annually, and is currently 6.0%.
During repayment the current interest rate is %.
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Dependant: $3500, if earned less than 30 credits. $4500, if earned 30 credit hours or more.
Independent: $3500 if earned less than 30 credits; $4,500, if earned 30 credit hours or more.
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* Federal Unsubsidized Stafford Loan
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Loan: Must be repaid and the student must be enrolled in at least six credits. |
Unsubsidized: Interest is paid by the borrower during the life of the loan; financial need is not a requirement. The interest rate is variable, adjusted annually, and is currently 6.8%.
During repayment the current interest rate is 5.3%.
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Dependent: $2000, if earned less than 30 credits. $2000, if earned 30 credit hours or more.
Independent: Up to $6,000 if earned less than 30 credit hours; $6,000 if earned 30 credit hours.
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| FFEL PLUS Loan |
Loan: Must be repaid and student must be enrolled in at least six credits. |
Available to parents of dependent undergraduate students. |
Award amount is cost of attendance minus any other financial aid the student receives. |
| SSIG Grant |
Grant: Does not have to be repaid. |
For undergraduate students, with exceptional financial need, priority is given to those students with Pell eligibility. |
At SJC award averages $1000 for two semesters. |
| NM Lottery Scholarship |
State Scholarship: Does not have to be repaid. |
Awarded to NM High School graduates and GED completers.
NM High School graduates who enroll in the Fall semester (qualifying semester) with 12 or more credits maintaining 2.5 GPA, will be eligible for Lottery to pay for their tuition in Spring (up to 4 semesters).
GED graduates who immediately enroll in the semester after receiving their GED (qualifying semester)
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Covers tuition only. Must attend qualifying (1st)semester with 12 credits and maintain a 2.5 GPA. Lottery will then pay for tuition for the next 4 semesters at a 2 year institution as long as requirements are being met. This scholarship is transferable to a 4 year institution. Must fill out transfer form to transfer scholarship. |
| 3% Scholarship |
State Scholarship: Does not have to be repaid. |
Must be a NM resident, and maintain at least a 2.0 GPA. Minimum of 1/3 of funds must go to students with financial need. |
Tuition Only |
| ACG Grant |
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Must have completed these requirements in High School: 4 years of English;3 years of math (incl. Algebra I, Algebra II and Geometry); 3 years of lab science (biology, chemistry, physics); 3.5 years of social studies; and 2 years of language other than English.
Additional criterion: Must be a Pell Grant recipient, U.S. citizen, enrolled in a 2 year degree program, full-time enrollment (12 crs.), demonstrate "need", did not receive a grant at the same level in his or her prior academic year, first time or second year student in an undergraduate program, rigorous secondary school curriculum, a minimum of 3.0 GPA, and be in a eligible major.
If you are not a NM graduate, see the Financial AId Office to see what requirements are necessary for eligibility.
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First year students could receive $750/year. Second year students could receive $1300/year. |
| SCAG Grant |
State Grant |
For undergraduate students, with exceptional financial need. |
At SJC award averages $1000 for two semesters. |
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