APPENDIX

 

DEFINITIONS 

What is a Pell Grant?

Pell Grants provide money to help undergraduates pay for their education after high school. The Pell Grant Program is the largest of the Federal student aid programs. For many students, these grants provide a "foundation" of financial aid, to which aid from other Federal and non-Federal sources may be asked. Unlike loans, grants do not have to be paid back.

 

What is an SEOG?

A Supplemental Educational Opportunity Grant is an award of money to help you pay for your education after high school. It is for undergraduates only, and it does not have to be paid back.

 

What is a Perkins Loans?

A Perkins Loan is a low-interest (5%) loan to help you pay for your education after high school. These loans are made to undergraduates and graduate students through the financial aid office at each school. Check at that office to find out if your college/school takes part in the Perkins Loan. These loans must be repaid.

 

What is a Stafford Loan?

A Stafford Loan is a low-interest loan made to you by a lender such as a bank, credit union, or savings and loan association to help you pay for your education after high school. These loans are insured by either the Federal Government or the guarantee agency in your state. The interest rate is approximately 9%.

 

What are PLUS loans?

PLUS loans are meant to provide additional funds for educational expenses. The interest rate for these loans is 12%. They are made by a lender such as a bank, credit union, or savings and loan association.

 

What is College Work-Study?

The College Work-Study (CW-S) Program provides jobs for undergraduate and graduate students who need financial aid. CW-S gives you a chance to earn a part of your educational expenses.

 

Sources of Information for: Stafford Loan .....Washington Student Loan Guaranty Association, 100 South King Street, Suite 560, Westland Building, Seattle, WA 96104 Phone (206) 625-1030

 

State Aid..........Council for Post-secondary Education, 908 E. Fifth Avenue, Olympia, WA 98504 Phone (206) 753-3571

 

State Aid to Blind (Washington)

Legally blind Washington residents contact:...Higher Education Coordinating Board, 917 Lakeridge Way, GV-11, Olympia, WA 98504

 

ATTENTION FINANCIAL AID APPLICANTS

You may be required to provide copies of federal tax returns (yours and your parents') or information from those returns when applying for financial aid.

Contact your financial aid office to determine what information you will need.

If you misplaced your copies of federal tax returns you filed, please note the following time frames for obtaining information from the Internal Revenue Service:

• Complete copies of federal tax returns - 6 to 8 weeks - (Send $4.25 for each return with Form 4506 to the Internal Revenue Service Center where the return was filed.)

• Tax account information (such as filing status, number of exemptions, adjusted gross or taxable income, tax paid) &emdash; 15 days (no charge).

(Be sure your financial aid office will accept this information instead of copies of your tax return(s).)

To order Form 4506 or to request tax account information, call the Internal Revenue Service at the number listed in your local phone directory under "U.S. Government."

NOTE: This information was copied exactly as it was received from I.R.S.

  BACK TO TOP OF PAGE

BACK TO SCHOLARSHIP PAGE