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
State
Institutional
Work
Loans

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 2006-2007 is $4,050 based on 12 credits (full-time status) per semester. 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. Awards can range from $200 - $4,000 per academic year, depending upon college funding levels.

Academic Competitiveness Grant: This new program, effective July 1, 2006, allows first-year undergraduates who are US Citizens, Pell-eligible, full-time, graduating form high school after 1/1/2006, and who attended a high school whose program the Secretary has deemed rigorous to qualify for a grant of up to $750. 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 of up to $1,300.

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 19 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!

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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.

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FEDERAL FAMILY EDUCATION LOAN PROGRAMS

In cases where a student’s need can not be met with other types of financial aid, a Federal Stafford Loan may be recommended. These loans enable a student to borrow funds from a lender of their choice in order to finance their educational expenses. These are loans that must be paid back and are paid back according to a payment schedule arranged by the lending institution. If you are interested in applying for a loan, you must choose from our preferred lenders. you must also complete an entrance interview. Here are links to two online Entrance Interview processes that you may use.

Federal Stafford Loan: This program makes low interest loans available to dependent and independent students. Loan amounts should only include tuition, fees, and books.

Federal 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.

College Bound Loan: College Bound loans are available for a minimum of $1,500. There is no application fee and no payments are required while you are in school for up to four and half years. For more information click to visit the Rhode Island Student Loan Authority or call 1-800-758-7562.

TERI Loans: TERI loans are available to undergraduate students 18 years of age or older in a degree or certificate program. You must be enrolled at least half-time, as determined by your school, and making satisfactory academic progress towards completing your degree, again as determined by your school. Repayment may be deferred while you are in school and the loan can be used to finance existing or even past-due balances. There is no time limit. For more information click to visit Citizens Bank or call 1-800-708-6684.

Click here for more information on Student Loans at the Community College of Rhode Island.

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