Available Types of Aid
The Community College of Rhode Island offers financial assistance to students who might otherwise be unable to further their education without such support. Depending on the type of aid, eligibility is based on one or more of the following criteria: financial need of the individual (in the case of dependent students, family need is used), educational costs, academic program and availability of funds.
A federal grant awarded when the student does not have a B.S./B.A. degree equivalent. Awards are based on students’ enrollment status and their expected family contribution. Awards for full-time students range from $582 to $5,645 per academic year.
Federal Supplemental Educational Opportunity Grant (FSEOG)
A federal grant that is awarded when a student demonstrates exceptional need and does not have a B.S./B.A. degree or equivalent. The award amount is $250 per semester; students must be enrolled in a Title IV eligible program, priority is given to students enrolled in at least six (6) credits.
Federal College Work-Study Program (CWS)
A federal work program that provides jobs to help pay for educational expenses. This program encourages community service and work related to the student’s course of study. Students will be paid at least the federal minimum wage and can work up to 15 hours per week. To qualify, students must demonstrate financial need. Priority is given to students who are enrolled in at least six (6) credits.
A CCRI institutional non-need-based student work program on campus. Student will be paid at least the federal minimum wage and can work up to 15 hours per week. Students who are not eligible for need-based FWS work may be considered for the Student Help program. Priority is given to students who are enrolled in at least six (6) credits.
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.
CCRI institutional grant for students enrolled in an eligible certificate or degree-granting program. Student must be enrolled for at least six (6) credits each term and meet certain eligibility requirements.
Awarded by the CCRI Foundation to assist incoming, continuing, graduating and transferring students in meeting their financial needs. More than 70 scholarships, which are need-based and/or merit-based, are awarded to deserving students each year. For detailed information please visit www.ccri.edu/foundation/scholarships/.
WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM
Federal Direct Subsidized Stafford Loan
Need-based, federally subsidized loans with a fixed rate of 3.86 percent for undergraduate students. Repayment is deferred until students graduate, withdraw or enroll less than half-time. Interest is paid by the federal government until students graduate, withdraw or drop below half-time enrollment. A 1 percent origination fee is charged at disbursement.
Federal Direct Unsubsidized Stafford Loan
Not based on need. “Unsubsidized” means the interest is not deferred while in school. However, repayment may be deferred until after students graduate, withdraw or drop below half-time enrollment. Unsubsidized loans have a fixed interest rate of 3.86 percent. A 1 percent origination fee is charged at disbursement.
Federal Direct Parent Loan for Undergraduate Students (PLUS)
PLUS loans allow parents of dependent undergraduate students to borrow up to the cost of education minus other financial aid. There are no aggregate loan limits. The program has a fixed interest rate of 6.41 percent. An origination fee of 4 percent is charged at disbursement.
PRIVATE EDUCATION LOANS
Private education loans are an alternative financing option to cover costs associated with attending college. These are typically credit-based educational loans that are provided through various private lenders or state loan authorities. Since these loans are credit-based a credit worthy U. S. borrower is required, and many times a co-borrower is necessary.
View more information on Private Education Loans at the Community College of Rhode Island here.
This page developed and maintained by Office of Financial Aid. Send comments and suggestions to .