Federal and State Financial Aid
Federal Pell Grant
This need-based grant pays up to $4,050 annually and is renewable while you are an undergraduate degree student. Award amounts are based on financial need, the cost to attend school, and your status and a full-time or part-time student.
Federal Supplemental Educational Opportunity Grant (FSEOG)
Students who show exceptional need may receive this award ranging from $100 to $4000 annually and is renewable. Pell Grant recipients with the lowest estimated family contribution are first to receive FSEOG.
Federal Perkins Loan
The Perkins loan is a Federally funded, low interest educational loan. It carries no interest while the student is enrolled at least half time. The repayment of principal may be extended over a period of 10 years with interest at a rate of 5% per year. Recipients are required to sign a promissory note prior to the loan being disbursed each semester.
Federal Subsidized Stafford Student Loan
Stafford loans are Federally funded educational loans available through private lenders. The annual fixed interest rate is 6.8%.
The Federal government pays the accruing interest rate while the student is enrolled on at least a half-time basis and for up to 6 months after the student graduates or ceases to be enrolled on at least a half-time basis.
Maximum loan amounts: $3,500 (Freshmen), $4,500 (Sophomores), $5,500 (Juniors), $5,500 (Seniors).
Federal Unsubsidized Stafford Student Loan
This is also a Federally funded educational loan available through private lenders. Dependent students whose parents have been declined for a PLUS loan may receive an Unsubsidized Stafford loan. In addition, students who do not demonstrate sufficient need for a subsidized loan may also receive this loan. The annual fixed interest rate is 6.8%.
Undergraduate Parent (PLUS) Loans
The PLUS Loan is a Federally funded loan that enables parents of dependent undergraduate students to borrow up to the full cost of attendance less any other financial aid received. The interest is 8.5%. Some lenders may offer the option of deferring principal payment for up to 4 years while the student is enrolled on at least a half-time basis. Loans will not be certified for a partial period of enrollment (i.e. single semester) unless it is the student' s final period of enrollment.
NJCLASS Loans
NJCLASS provides supplimental funding to help cover costs not already covered by other forms of student aid. NJCLASS provides a fixed-rate loans for undergraduate, graduate, and professional students. The annual fixed interest rate is 5.75%.
New Jersey Tuition Aid Grant (TAG)
TAG is a State grant that may cover up to the cost of tuition. The amount varies based upon your needs, the cost for attendance, and available funding. Grants are renewable annually according to eligibility. To qualify, you must be a New Jersey resident for at least twelve consecutive months prior to enrollment, be a U.S. citizen or eligible non-citizen, registered with the Selective Service (if required) and be a full-time undergraduate student at an approved New Jersey college.
New Jersey Educational Opportunity Fund (EOF)
Students from educationally or economically disadvantaged backgrounds may participate. Our awards are fixed at $2500 per year for undergraduate students. The same requirements as the TAG apply for the EOF.
Questions? Contact Us:
Phone: 908-852-1400 ext. 2350
Email: finaid@centenarycollege.edu
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