SCHOLARSHIPS/AWARDS
Gift aid awarded based on any number of criteria, such as academics,
achievements, hobbies, talents, and affiliations with various groups,
or career aspirations. There is no repayment of scholarships.
GRANTS
Gift aid based on criteria such as need analysis, geographic factors,
or other family members attending Stephens. There is no repayment
of grants.
LOANS
A subsidized Stafford loan is self-help aid awarded on the basis
of demonstrated financial need, whereas an unsubsidized Stafford
loan is more widely available. Conditions are the same for these
loans, with the exception that unsubsidized loans require a student
to repay the interest that accrues while in school. As long as students
remain enrolled at least half time, repayment does not begin until
six months after graduation. Parents of dependent students may take
up to the student's cost of attendance less aid received in a federal
PLUS loan. A credit check is required. If denied, the student may
be eligible for additional unsubsidized Stafford loan funds. Repayment
is required and begins 60 days after the funds are fully disbursed.
For more information about PLUS loans, please view the PLUS
loan guide.
STUDENT EMPLOYMENT
Jobs, generally on campus, wherein students are paid for hours worked
and are expected to apply their earnings toward educational purposes.
FREE APPLICATION FOR FEDERAL STUDENT AID
(FAFSA)
A need analysis form provided and specified by the Department of
Education to collect each family's personal information in order
to calculate the family's ability to contribute to the student's
educational costs. The Stephens College FAFSA code is 002512. The
FAFSA form can be found on the FAFSA
Web site.
EXPECTED FAMILY CONTRIBUTION (EFC)
The amount a student's family is expected to contribute to the student's
education, regardless of the college attended. A very specific formula
developed by Congress, this amount is determined when you complete
and submit the FAFSA to the Department of Education.
STUDENT AID REPORT (SAR) ACKNOWLEDGEMENT
The Department of Education form, indicating the calculated EFC,
which is sent to the student. The college the student has coded
on the FAFSA receives an Institutional Student Information Record
(ISIR).
COST OF ATTENDANCE
A budget used to award need-based financial aid which includes tuition
and fees, and the average cost of room and board, books and supplies,
transportation, and miscellaneous personal expenses.
