Academic Catalog 2020-2021

Federal Work-Study Program (FWS): The Federal Work-Study Program provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay for education expenses. The program encourages community service work and work related to the student’s course of study. William D. Ford Federal Direct Loans: Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources. Bluefield Col- lege encourages our students and parents to borrow conservatively and responsibly. Students and parents can begin repayment at any time to reduce total debt without penalty. William D. Ford Federal PLUS Loans (for parents): The PLUS (Parent Loan for Undergraduate Students) loan is available to parents of dependent students with a good credit history and is used to supplement other financial aid sources. The student must com- plete the FAFSA, and a separate PLUS loan request form is required. This form is available through the financial aid office. William D. Ford Federal PLUS Loans (for graduates): Graduate PLUS loans are available to graduate students with a good credit history, to help pay for their educational expenses while enrolled in a master’s program. The student must complete the FAFSA, and a separate graduate PLUS loan request form. This form is available through the financial aid office. Subsidized and Unsubsidized Direct Loans The Subsidized Direct Loan requires financial need, which is determined by using a federal formula. Limited to undergraduate students only, these loans are “subsidized” in that the government pays the interest for you during the following periods: The Unsubsidized Direct Loan is not based on financial need and is available to all federally-eligible students regardless of income and assets. Because these loans are not subsidized by the government, you are responsible for all interest which accrues during in-school, grace, and deferment periods. You may choose to make payments to cover the accruing interest while in school, or you may simply allow the interest to accrue and be included in the amount you owe when you begin repayment. Federal Direct Stafford Loan Annual Limits Dependent Students Independent Students Grade Level (Subsidized and or Dependents with Unsubsidized) PLUS Denial Freshman (0-27 Earned Credits) $3,500 + $2,000 $3,500 + $6,000 Sophomore (28-57 Earned Credits) $4,500 + $2,000 $4,500 + $6,000 Junior (58 -91 Earned Credits) $5,500 + $2,000 $5,500 + $7,000 Senior (92+ Earned Credits) $5,500 + $2,000 $5,500 + $7,000 Graduate Level $20,500 Federal Direct PLUS Loans The Federal Direct parent PLUS Loan is available to parents of dependent students • while you are enrolled in school at least half-time (6 credits), • for the first six months after you leave school “grace period,” and • during a period of approved deferment.

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