Types of Financial Aid
Grants are financial aid awards which do not need to be repaid as long as the student meets academic progress requirements of the granting agency.
Bureau of Indian Affairs (BIA)
The Bureau of Indian Affairs makes grants available to eligible full-time students. Applicants must be at least one-quarter Alaska Native or American Indian. For further information, contact the local BIA area office or Native regional corporation.
Federal Pell Grant
The Federal Pell Grant makes funds available to eligible students with financial need. To be eligible for a Pell Grant, students must not have earned their first baccalaureate degree.
Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant program is similar to the Pell Grant program and can provide additional assistance to students with financial need and who received a Pell. Only undergraduates who have not earned their first baccalaureate degrees are eligible.
University of Alaska Grant (UAG)
The UAG provides assistance to needy Alaska residents in the first 60 credits of their academic program. It is not available to students who have already earned an associate’s degree or higher.
Loans are financial aid awards that must be paid back to the lender upon graduation or continuing school at part-time status, below 6 credits/semester. When filling out the FAFSA use school code 011462 (this will appear as University of Alaska Anchorage.)
Emergency Loan Fund (ELF)
Thirty-day loans are available when school is in session to assist students with books. An admitted full-time student making satisfactory progress may borrow a maximum of $600 for up to 30 days. A $10 administrative fee is charged. Students may receive one ELF per semester, subject to Financial Aid Disbursement approval.
Federal Direct Stafford Loan Program
The Stafford Loan Program enables students to borrow directly from the federal Department of Education after they have qualified by completing the Free Application for Federal Student Aid (FAFSA). Any undergraduate or graduate student enrolled at least half-time may apply for a Stafford Student Loan. This requires a Master Promissory Note (MPN) that can be completed online. Links to the MPN are available on the Financial Aid website.
- Federal Subsidized Stafford Student Loan: Dependent and independent students who have qualified using the FAFSA and determined to have need according to the federal methodology can borrow up to:
- $3,500 as a first-year undergraduate student,
- $4,500 as a second-year undergraduate student and for students in a baccalaureate degree,
- $5,500 as a third-, fourth- and fifth-year undergraduate student, and
- $8,500 as a graduate student.
The subsidized Stafford loan means the federal government pays the interest while the student is attending postsecondary education at least half-time and for six months after graduation or after the student has left the post-secondary educational experience.
- Federal Unsubsidized Stafford Student Loan: This loan is considered a non-need based loan. Students are responsible for paying the interest on this loan immediately from the time the unsubsidized loan is disbursed. Students who lack sufficient financial need to qualify for all or part of the subsidized loan can borrow the difference in unsubsidized Stafford loans. Dependent undergraduate students may borrow up to an additional $2,000 beyond the limits of the subsidized amounts. Independent freshmen and sophomore undergraduate students can borrow up to $6,000 annually additionally. Independent juniors and seniors can borrow up to an additional $7,000. Graduate students can borrow up to an additional $12,000 annually.
- Aggregate Maximums: Dependent students can borrow up to $31,000 cumulative of which no more than $23,000 can be subsidized. Independent undergraduates can borrow up to $57,500 of which no more than $23,000 can be subsidized. The graduate maximums include any amounts borrowed as an undergraduate.
Federal Direct PLUS Loan
Parents can borrow for their dependent student’s educational costs. Parents can borrow up to the cost of education attendance minus any other financial aid for which the student is eligible. Completion of the FAFSA is required to borrow under the PLUS loan. The interest on the PLUS loan begins to accrue with disbursement. Payments usually begin 60 days after the loan is fully disbursed. Graduate students may also borrow on their own behalf under the PLUS program. The limit is cost of education minus any other estimated financial assistance.
Federal Work Study Program
The Federal Work Study Program provides job opportunities for eligible students as determined by financial need which is calculated from the information provided on the FAFSA. These students may earn money to cover part of their educational expenses. The Human Resource office arranges jobs on campus. Students may work up to twenty (20) hours per week during the semester. Wages depend on the job responsibilities and the student’s qualifications. Any PWSCC student enrolled in at least 6 credits may inquire and obtain a referral. For more information please contact the PWSCC Student Services Office. All positions are posted on the www.UAKjobs.com website.
Veterans Assistance (VA Loans)
Welcome Veterans! We at PWSCC would like to thank you for your time in service and for the commitment and sacrifice that you have shown to our country. Know we appreciate all that you have done and look forward to working with you as you further pursue your education.
The following information is to help you as you use your GI Bill benefits. If you have any questions or need any help please contact our Financial Aid Coordinator at 907-834-1645 or email at kramerell AT pwscc DOT edu.
If you are a new student and want to start your VA Benefits, you will need to register for your benefits at VONAPP (Veterans On-line Application Process).
For more detailed information about your VA Benefits you can visit the Veteran Affairs page at University of Alaska Anchorage. Or visit the Dept. of Veteran Affairsto find information about the GI Bill.
Students using VA educational benefits must apply for admission to a degree or certificate program at PWSCC. In accordance with federal regulations, PWSCC must report this information to the VA, along with information regarding student enrollment, grades, and academic progress. Students must also maintain satisfactory academic progress of a 2.0 GPA. A GPA that fails to reach the 2.0 minimum will be reported to the DVA so that proper actions can be taken. For the most current regulations and policies in DVA education benefits visit their website at http://www.gibill.va.gov/.
Certifying Your Benefits
Please remember, for all benefits other than Chapter 33, you must certify your attendance every month with the VA. You can either call the office in Muskogee, OK at 1-877-823-2378 or certify online at www.gibill.va.gov. Other VA information can be obtained by contacting the VA in Oklahoma at 1-888-GIBILL-1 (1-888-442-4551).
Transfer of Entitlement
Active duty members may now have the option to transfer entitlement to spouses and children. Please be aware that there may be additional service obligations required to take advantage of this option. For more information and to begin the application process, please go to the VA Transfer of Entitlement website. To apply, you must use Internet Explorer.
The VA has created a new program under the Post-9/11 GI Bill for the children of an Active Duty member who died in the line of duty. The Fry Scholarship was created to assist certain children of Active Duty members who died in the line of duty on or after September 11, 2001. The VA will begin accepting applications for the Fry Scholarship on May 01, 2010 and may be paid retroactively to August 01, 2009.
Questions about your GI Benefits?
GI Bill Hotline (Muskogee, Oklahoma)
Note: Peak calling times are weekdays between 10:00 am CST and 3:00 p.m. CST. Staff is available to take your call as early as 7:30 a.m. and as late as 5:00 p.m. CST.