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Available Types of Aid
Financial Aid comes in many forms. Here at CCRI, we participate in aid programs that come from federal, state and institutional sources. These programs include grants; scholarships, loans and work study. Aid is awarded on the basis of need as determined by the FAFSA application. Listed below are the types of aid that are available at CCRI. Your aid package may contain any of these types or a combination of them.
FEDERAL GRANT PROGRAMS
Federal Pell Grant:
A gift award that does not have to be repaid. To qualify you must demonstrate exceptional need and be an undergraduate student enrolled in an eligible degree or certificate program. The maximum annual award for 2009-2010 is $5,350 based on 12 credits (full-time status) per year. Your Pell Grant award will be pro-rated for less than full-time attendance.
Federal Supplemental Educational Opportunity Grant (FSEOG):
An FSEOG does not require repayment and is based on financial need. If you are awarded the Federal Pell Grant, you will receive first priority for this grant. The average award is $400 per academic year, depending upon college funding levels.
Academic Competitiveness Grant:
This this program is for undergraduates who are Pell-eligible, graduated from high school after 1/1/2006, and who attended a high school whose program the Secretary has deemed rigorous to qualify for a grant. Second year undergraduates that meet the above criteria and who have a 3.00 GPA or higher after their freshman year may qualify for a grant.
Federal Work-Study Program (FWS):
A federally funded program allowing qualified students to earn a portion of their financial aid award by working. To qualify you must demonstrate financial need. This is a part-time employment program based upon financial need. Students can work no more than 15 hours per week at authorized on-campus locations and are paid every two weeks at an hourly rate based on hours worked. Eligibility is determined by the Office of Enrollment Services, using information from the FAFSA and assists work-study students with job placement on campus. The college cannot guarantee placement in a position. The Federal Work-Study Program provides students with great work experience!
STATE GRANT PROGRAMS
Rhode Island State Grant:
This is a grant for Rhode Island residents who are pursuing higher education. The Rhode Island Higher Education Assistance Authority determines eligibility for this award. There is an application deadline of March 1. Funding is contingent upon state appropriations.
Massachusetts State Grant:
This is a grant for Massachusetts residents who are pursuing higher education. The Massachusetts Department of Education determines eligibility for this award. There is an application deadline of May 1. Funding is contingent upon state appropriations.
INSTITUTIONAL GRANT PROGRAMS
CCRI Grants:
These grants are awarded to needy students and financed through institutional funds. Generally, CCRI Grants are distributed in accordance with the need guidelines as established by the federal government.
WORK PROGRAMS
In addition to the Federal Work-Study Program, there is one other student work program available at CCRI.
Student Help:
Students who are not eligible for need-based work may be considered for the Student Help Program. This is a part-time employment program where students are paid every two weeks at an hourly rate based on hours worked. All positions are on campus. This program is contingent upon institutional funding. The college cannot guarantee placement in a position. In every other way, but need, the Student Help eligibility follows the Work Study Program.
WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM
In cases where a student’s need can not be met with other types of financial aid, a Federal Direct Loan may be recommended. These loans enable a student to borrow funds from the government in order to finance their educational expenses. These are loans and they must be paid back according to a payment schedule arranged by the United States Department of Education.
Federal Direct Loan:
This program makes low interest loans available to dependent and independent students. Loan amounts should only include tuition, fees, and books. Loans are typically disbursed by the Bursar's Office in November for the Fall term and March for the Spring term.
- To qualify for the Federal Subsidized Direct Loan, you must demonstrate financial need. The government pays the interest on this loan until six months after you leave school or drop below half-time status.
- Federal Unsubsidized Direct Loan, funding is available to those students who do not qualify for a maximum subsidized Direct award, and independent students who are seeking additional funding. Eligibility is not based on family income and borrowers are responsible for all interest that accrues from the date of disbursement.
Federal Direct Parent Loan for Undergraduate Students (PLUS):
A loan that allows parents of dependent students to borrow up to the entire cost of their child's education minus other financial aid awarded. A simple credit check is required to determine eligibility. Applicants with adverse credit checks will not qualify for funding. Repayment normally begins within 60 days of the last disbursement, but you do have the option of deferring payments until after the student leaves school.
Click here for more information on Student Loans at the Community College of Rhode Island.
