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Types of Financial Aid
Financial Aid award types include both federal, state, and school aid programs. The awards listed below are those offered at NSU to eligible students. Students should be mindful that the university can only award students up to the allotted amount of grant, scholarship/fellowship, and work-study funds.
Grants
Federal Pell Grants are generally awarded only to undergraduate students who haven't earned a bachelor's degree who demonstrate a financial need based on the assessment of their Expected Family Contribution (EFC).
Federal Supplemental Educational Opportunity Grants (FSEOG) are awarded from the university's budget of allotted funds to undergraduate students with exceptional financial need (those with the lowest Expected Family Contribution (EFC) numbers). Federal Pell Grant recipients receive priority for FSEOG awards.
Virginia Commonwealth Grant is a grant funded by the State of Virginia to assist high-achieving (2.0 GPA or higher) undergraduate Virginia residents with financial need that are enrolled at least half-time to pay a portion of their college costs.
Academic Competitiveness Grant (ACG) is a federal grant awarded to first and second year undergraduate students who received the Pell grant and are enrolled full-time in a degree program. First year students may not have been previously enrolled in a program of undergraduate education and must have completed their secondary school program after 1/1/06. Second year students must have completed their secondary school program after 1/1/05 and have a 3.0 GPA in an eligible degree program.
National Science and Mathematics Access to Retain Talent Grant (SMART) is a federal grant awarded to third and fourth year undergraduate students enrolled full-time in one of the following baccalaureate degree programs: computer science, engineering, foreign language, life sciences, mathematics, physical sciences, and technology. The student must have maintained a 3.0 GPA in the eligible degree program.
Loans
William D. Ford Direct Subsidized Loans are awarded to eligible students who are enrolled at least half-time in a degree-seeking program and demonstrate financial need. Each classification has a maximum award amount per academic year. These loans require repayment and the interest is deferred while the student is enrolled.
William D. Ford Direct Unsubsidized Loans are awarded to eligible students who are enrolled at least half-time in a degree-seeking program. Dependent students can qualify for this additional loan if the parent/guardian is denied for a PLUS Loan and verification of the denial is provided to the Financial Aid Office. Each classification has a maximum award amount per academic year. These loans require repayment and the interest accrues while the student is enrolled.
Federal Perkins Loans are awarded at 5% interest to students who are enrolled at least half-time in a degree-seeking program and demonstrate financial need.
Work-Study, Fellowships, and Assistance Programs
Federal Work-Study can be awarded to both undergraduate and graduate students. Unlike other types of financial aid, a student must actually seek out and secure campus employment in order to earn the amount indicated on the Financial Aid Award Letter. Unearned work-study awards cannot be carried over into the next term.
Graduate Fellowships may be awarded on a need or non-need basis. Recipients must be enrolled full-time as a matriculating, graduate student. Funding is very limited.
(Virginia) College Scholarship Assistance Program (CSAP)
is a statewide need-based undergraduate grant program to assist Virginia's public colleges and universities. Funding is very limited. Students must be matriculating at least half-time, and have an Expected Family Contribution (EFC) of less than the Cost Of Attendance (COA) or Budget.
Virginia Guaranteed Assistance Program (VGAP) is an undergraduate program designed to increase graduation rates and to provide financial assistance to Virginia students. To be eligible, students must demonstrate need, achieve a cumulative secondary school grade point average of 2.5 on a 4.0 scale. Awards are renewable for three years providing that the student demonstrates need and shows Satisfactory Academic Progress (SAP). Funding is appropriated by the State of Virginia.
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