FAFSA - Free Application for Federal
Student Aid. Information reported on this federal application
is used to determine the amount of money a family is expected
to contribute toward education expenses.
EFC - As determined by filing the FAFSA.
The amount of money a family is expected to contribute towards
the educational expenses.
PIN - Personal Identification Number.
Serves as personal identifier to access your information
at various Department of Education systems. Can also serve
as an electronic signature. Obtain a PIN and information
at www.pin.ed.gov
Merit Scholarship - Academic awards that
are awarded by both the college and outside sources. All
students upon entering DVC are considered for merit awards.
Academic achievement, extracurricular activities and strong
citizenship are factors in the selection process.
Gift Assistance - This funding is not
repaid. Scholarships or grants are most prevalent types
of Gift Assistance but tuition waivers, sponsorships or
tuition reimbursements from employers also qualify.
Grants - These are a type of gift assistance
that may or may not require a minimum GPA, ACT or SAT score
or financial need level.
Federal Pell Grant - Federal Grant awarded
to undergraduate students with a EFC less than $3850 as
determined by filing the FAFSA, which determines both eligibility
and the amount of the award. (Amounts range $400 - $4050).
Federal Supplemental Education Opportunity Grants
- SEOG - Federal grants awarded for undergraduates with
exceptional financial need. (Amount $100 - $4000) Priority
is given to Pell Grant recipients.
Federal College Work Study/Campus Employment -
Employment opportunities both on and off campus. Jobs will
offer both financial resources and the opportunity to apply
towards education experience.
Federal Perkins Loan - Federal low interest
loan (5% during repayment) and the school is the lender.
The loan is interest free while your are enrolled in school.
Loan maximum $4000.
Federal Stafford Loan - Student self-help
loans - amount borrowed depends on enrollment status.
National SMART Grant - National Science
and Mathematics Access to Retain Talent program - Federal
Grant awarded to a third of fourth year Pell eligible U.S.
citizens enrolled in an approved undergraduate academic
program as defined by the Higher Education Reconciliation
Act of 2005 (HERA). Student must have a cumulative
grade point average of 3.0 or above. Student also must take at least one course specific to and required for the National SMART Grant-eligible major during the term of SMART grant eligibility.
Academic Competitiveness Grant - ACG -
Federal Grant awarded to full time, first or second year
Pell eligible U.S. Citizens. Students must meet specific
academic requirements as defined by the Higher Education
Reconciliation Act of 2005 (HERA).
Subsidized - Awarded on the basis of need.
Interest free during enrollment to authorized period. (Amount
- Freshman $3,500. Sophomore $4,500. Junior/Senior $5,500.)
If you're an independent undergraduate student or a dependent
student whose parents are unable to get a PLUS Loan, you
can borrow up to:
- $7,500 if you're a first-year student enrolled in a
program of study that is at least a full academic year
(only $2,625 of this amount may be in subsidized loans).
- $8,500 if you've completed your first year of study
and the remainder of your program is at least a full academic
year (only $3,500 of this amount may be in subsidized
loans).
- $10,500 a year if you've completed two years of study
and the remainder of your program is at least a full academic
year (only $5,500 of this amount may be in subsidized
loans).
- Visit www.aessuccess.org
Federal Plus Loan - (Amount - From $100
up to the total cost of education) PLUS Loans are made by
banks to parents of college students. The loan is available
to replace all or part of the expected family contribution
and is limited only by the cost of attendance less other
financial aid. New borrowers pay a variable interest rate
capped at nine percent A credit check is required, and repayment
begins within 60 days after the loan has been fully disbursed.
Interest only payments may be made while student is in school,
and the loan has a maximum repayment period of 10 years.
PA State Grant - Need based for PA residents.
Awards vary.
State Grants - Other grants awarded by
individual states Varied amounts and may be portable for
out of state students for attendance in Pennsylvania colleges
and universities. (New Jersey and New York are not).
Alternative Loans - Loans provided by
private lenders for educational purposes. Visit www.collegelenderlist.com
Payment Plan Information - Monthly payment
plan is also available. To learn more, contact Tuition Pay
at 800-635-0120 or the College Bursar at 215-489-2376. Visit
www.tuitionpay.com
For more information or if you have a specific question,
please call 1-800-2-DELVAL or 215-489-2272 or email FinAid@delval.edu.
