A grant is considered gift aid, money that you are not required to repay. To be considered for grants, you must complete the Free Application for Federal Student Aid (FAFSA)
There are two primary types of federal grants, PELL and Supplemental Educational Opportunity Grant (SEOG). Both are based on financial need as determined by the FAFSA. If you qualify for the PELL grant, you may also be able to receive the SEOG. SEOG is awarded to students with the highest financial need and is limited based on funding. Consideration will be given to eligible students and priority FAFSA submission so don't delay, complete your FAFSA today!
For more information about federal student aid eligibility, award limits and other important information, please review the Federal Student Aid Guide.
Loans are different than grants. Students are legally responsible for repaying their loans.
Federal Grants
Pell Grant
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- Need-based grant considered gift aid
- Maximum amount for 2016-2017 is $5,815 for the academic year
- Amount awarded depends on Expected Family Contribution (EFC), Student’s enrollment status, Cost of Attendance
- If eligible, you may receive Pell no more than 12 semesters (equivalent to 6 years)
- May not receive Pell for more than one school at a time
Supplemental Educational Opportunity Grant(SEOG)
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- Campus-based fund awarded to students with highest financial need (Full Pell eligible students)
- Maximum amount for one award year is $600 at Hocking College
- Considered gift aid
Federal Loans
Direct Subsidized Student Loan
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- Lender is U.S. Department of Education
- Based on financial need as determined by the FAFSA
- U.S. Department of Education pays interest on subsidized loan while you are enrolled at least half-time, during the first six months after separation from college, or periods of deferment.
Direct Unsubsidized Student Loan
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- Lender is U.S. Department of Education
- Unsubsidized is not based on financial need, but based on the cost of attendance.
- Student is responsible for interest during all periods of the loan
- If you choose not to pay interest while you are enrolled in school, periods of deferment or forbearance, or enrolled less than half time, the interest will accrue and be capitalized.
Parent Loan for Undergraduate Student(PLUS)
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- Lender is the U.S. Department of Education
- Credit approval required
- Maximum amount limited to Hocking College’s Cost of Attendance (COA) minus any other financial aid the student is receiving
- Repayment begins once loan is fully disbursed
- Current interest rate is 6.31%
Aggregate Loan Limits
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YEAR IN SCHOOL DEPENDENT Students
except students whose parents
are unable to obtain PLUS loansINDEPENDENT Students
and dependent undergraduate
students whose parents are unable
to obtain PLUS LoansFirst-Year Undergraduate Annual Loan Limit Stafford $5,500
No more than $3,500 may be in
subsidized loans.$9,500
No more than $3,500 may be in
subsidized loans.Second-Year Undergraduate Annual Loan Limit Stafford $6,500
No more than $4,500 may be in
subsidized loans.$10,500
No more than $4,500 may be in
subsidized loans.Parent Loan for Undergraduate Students(PLUS) Maximum amount, upon credit
approval, up to cost of attendance
minus all other financial aid the
student is receivingNot Applicable Federal Work Study(FWS)
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- Part-time employment opportunity for students while enrolled in school
- Available to full-time students, with options of part-time enrollment
- Encourages community service work
- Students working in community service are paid $2.00 more per hour
- Maximum FWS award amount is $2,500 at Hocking College
Private Loans
Sallie Mae
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Students may want to consider applying for private loans if the amount of federal financial aid is not enough to cover the full cost of attendance or if eligibility for financial aid is lost. Private loans are based on credit, therefore you are encouraged to obtain a co-signer to help with the approval as well as to secure a better interest rate.
- Sallie Mae Loan Disclosures
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To apply for a private loan, please visit our preferred lender site to compare products and begin your application. - Sallie Mae
Wells Fargo
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Students may want to consider applying for private loans if the amount of federal financial aid is not enough to cover the full cost of attendance or if eligibility for financial aid is lost. Private loans are based on credit, therefore you are encouraged to obtain a co-signer to help with the approval as well as to secure a better interest rate.
- Wells Fargo Loan Disclosures
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To apply for a private loan, please visit our preferred lender site to compare products and begin your application. - Wells Fargo
