Title IV Funding enables business students to afford continuing education.
Title IV financing is federal funding for students, and includes various loans or grants. These include federal financial aid programs such as Subsidized Federal Stafford loans, Unsubsidized Federal Stafford loans, Federal Pell Grants, Federal Perkins Loans, Federal Supplement Education Opportunity Grants, Work Study and Federal PLUS loans. All are available to students in business schools, no matter which college or university a student attends. Each loan or grant has different qualifications that must be met, but generally business students that are undergraduates or graduates enrolled in a post-secondary education qualify to receive Title IV funding.
Federal Student Aid Grants
Federal student aid grants include Federal Pell Grants, Federal Supplemental Education Opportunity Grants, and as many as five other grants. Of the student aid programs, the Federal Pell grant is the most need-based. It allows low and middle-income undergraduate students to receive financial aid. Federal Supplemental Educational Opportunity Grants are granted to applicants with severe aid requirements, and are given based on the availability of funds. Other grants include Nation SMART, TEACH, LEAP and Special LEAP (SLEAP) Grants. In business schools, these grants are given based not only on the cost of the student's program, but also his ability to contribute.
Federal Student Aid Loans
The direct loan program allows funds to be sent directly to students for undergraduate and graduate studies with borrowed funds from the U.S. Treasury. These include subsidized and unsubsidized loans. An unsubsidized federal Stafford loan offers a low fixed interest rate and requires no payments as long as students are enrolled in classes at least half time. It does not have a basis on the financial needs of the student, and is therefore guaranteed. Often MBA students will be offered Stafford loans as well as other loans. Some lenders have programs specifically for MBA students in order to meet whatever needs there are more efficiently.
Federal Work-Study
The Federal Work-study program provides funds earned through part-time employment in order to assist a student with financial costs while he is enrolled in school. Financial need is determined using a standard formula in order to evaluate the financial information that was reported in the student's FAFSA (Free Application for Federal Student Aid) form. The information gathered is used in part to determine the expected family contribution (EFC). A student is paid directly for his work and the school is responsible for administering the program. Part time employment for business students may be offered on or off campus.
Tags: business students, Federal Pell, Grants Federal, Opportunity Grants, Stafford loans, Education Opportunity, Education Opportunity Grants