Types of Aid Awarded

Grants

Peninsula College offers both federal and state grants.  Grants are considered “gift aid” because they do not have to be repaid as long as students attend their classes, do not withdraw, do not stop attending, and do not complete zero credits for a quarter.

• Pell Grant
• SEOG (Supplemental Educational Opportunity Grant)
• SNG (Washington State Need Grant)
• Peninsula College (PC) Grant
• Tuition Waiver Grant

The amount of Federal Pell Grant funds a student may receive over his or her lifetime is limited by a federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding a student can receive each year is 100%, the six-year equivalent is 600%. For questions about how your Pell Grant Lifetime Eligibility Used is calculated, please contact the Financial Aid Office, or, to view your percentage of Pell Grant used please visit http://www.nslds.ed.gov/nslds_SA/.

Loans

Direct Stafford loans – subsidized (sub) are “need-based” loans.  “Subsidized” means the federal government pays interest on the loan for you until you enter repayment.  You must be enrolled in at least 6 credits to receive a loan.

Direct Stafford loans – unsubsidized (unsub) are “non-need based” loans.  “Unsubsidized” means the federal government does not pay interest on the loan.  Students are responsible for paying all accrued interest.  Interest can be paid while the student is in school, or it can be deferred until the student enters repayment.  If deferred, the unpaid interest that accrues is added to the loan amount the student borrowed, a process known as “capitalization.”  You must be enrolled in at least 6 credits to receive a loan.

• Direct Subsidized Stafford Loan
• Direct Unsubsidized Stafford Loans
• PLUS (Parent Loan for Undergraduate students)

Work-study

Work-study programs offer students the opportunity to gain valuable work experience while earning money for college. Both on-campus and off-campus positions are usually available.

Students receive their work-study funds in the form of a paycheck based on their hourly wage and the number of hours they have worked in any given pay period. Because work-study funds must be earned, they are not available at the beginning of the quarter to help pay tuition and fees or purchase books.

• Federal work study (FWS)
• State work study (SWS)

Due to a change in state regulations, TANF recipients may be required to report SWS earnings as income. For more information, please contact DSHS.

For more information regarding federal financial aid programs, please click here to view the US Department of Education website.