Burlington College financial aid programs

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Financial Aid: Financial Aid Programs
Federal, State and Burlington College financial aid programs are available to help eligible students finance their education.

Federal Pell Grants
These are awarded to eligible students who do not hold bachelor's degrees and have exceptional financial need. For 2008-2009, Federal Pell Grants for full-time students range from $400 to $4,731. Award amount depends on need and enrollment status (full-time, three-quarter-time, half-time or less-than-half-time).

Federal Supplemental Educational Opportunity Grants (FSEOG)
These are awarded to Pell-eligible students who have the greatest financial need. Awards range from $200 to $2,000 per year based on need and enrollment status.

Federal Work-Study Program (FWS)
Provides employment opportunities, either on-campus, or with eligible off-campus employers. Employment in community service positions is encouraged. Students employed in Federal Work-Study positions are paid for the hours worked, up to the amount of their FWS award. Awards average $1,500 per year.

Federal Perkins Loans
These are fixed interest rate (5%) loans awarded to students with high need. Repayment begins nine months after the student is no longer enrolled at least half-time. A borrower may have all or part of his or her loan (including interest) canceled for engaging in teaching, public service, service in the Peace Corps or ACTION, or service in the military. Awards generally range from $200 to $2,000 per year based on need and enrollment status.

Federal Stafford and Unsubsidized Federal Stafford Loan
Program provides educational loans for eligible students. Loan amounts are subject to annual and cumulative limits based on academic level, dependency status, length of academic program, and educational costs for the period of the loan. Repayment begins six months after the student is no longer enrolled at least half-time. When in repayment, students may defer payment of interest and principal under certain circumstances, including during service in the Peace Corps, service under the Domestic Volunteer Service Act of 1973 and other comparable volunteer service. The interest rate changes each year on July 1.

First-time borrowers must complete a loan entrance counseling session before receiving their loan funds.

Federal PLUS Loans
These are available for parents of dependent students. The interest rate changes each year on July 1. Repayment begins six months after the student is no longer enrolled at least half-time. Parents can borrow up to the difference between the cost of attendance and the total of other aid the student is receiving.

State Incentive Grants
These are offered by most states to eligible residents. The VSAC Grant Program provides full-time and part-time grants to eligible Vermont residents who are pursuing their first undergraduate degree. Applicants must complete the FAFSA (see above) and the Vermont Grant Application available online at www.vsac.org.

Non-Vermont students should check with their state grant agency for information on grant availability and application procedures (contact the Office of Financial Aid Services for state grant agency telephone and address information). Not all states allow their grants to be used at out-of-state institutions.

Vermont Non-Degree Grants
These are offered by VSAC to Vermont residents who are not matriculated but who want to take courses to enhance job skills or enhance employability or to experience postsecondary education. The grants are need-based. The maximum award is $690 per enrollment term for up to two courses per enrollment term. Eligible students may receive funds for a maximum of two enrollment terms per year.

Burlington College Grants and Scholarships
These are awarded based on specific eligibility criteria. See the Burlington College Catalog for more information.

Veterans' Benefits
Various educational benefits are administered by the Veterans Administration for veterans and, in some circumstances, their dependents. Contact your local Veterans Administration Office, call 1-888-GI-Bill, or visit their website at www.gibill.va.gov for information.

Private Scholarships
Information on scholarship opportunities may be found, free of charge, in the reference section of your local library, through scholarship searches on the Internet (start a search at www.vsac.org), or from high school guidance counselors.

Alternative Loan Programs
These are offered by a number of lenders for students who need educational loans over and above the amounts they are eligible to borrow through the federal student loan programs described above. Contact the Burlington College Financial Aid Office for additional information.