FREQUENTLY ASKED QUESTIONS FOR FINANCIAL AID

1. What is the Federal Pell Grant?
   The Federal Pell Grant is a need-based award for an undergraduate student who is pursuing a first Bachelor's degree. Since it is a "need-based" award, eligibility will depend on the student's household size and income in addition to the costs of attendance of the school the student plans to attend. The grant is portable, meaning that any unused portion can be transferred from one school to another, if the student changes schools within an aid year. It is also a prorated award, meaning the amount the student will receive will depend on the number of hours in which a student is enrolled.

2. What is the Federal Supplemental Educational Opportunity Grant?
   The Federal Supplemental Educational Opportunity Grant is a need-based award for an undergraduate student who is pursuing a first Bachelor's degree. Since it is a "need-based" award, eligibility will depend on the student's household size and income in addition to the costs of attendance of the school the student plans to attend. Priority is given to students who have "extreme" financial need, so students with the lowest EFCs are the first to be considered. Priority is also given to Pell-eligible students. Unlike the Federal Pell Grant, the College receives limited funding for this program each year. Therefore, not every student who qualifies for the grant will receive an award.

3. What is the Federal Academic Competitiveness Grant?
   The Federal Academic Competitiveness Grant (ACG) is a need-based award for an undergraduate student who is pursuing a first Bachelor's degree. Since it is a "need-based" award, eligibility will depend on the student's household size and income in addition to the costs of attendance of the school the student plans to attend. A student must be receiving a Federal Pell Grant to qualify and must also be enrolled full-time. A student must also have completed a "rigorous" high school curriculum after January 1, 2005. Eligibility for the program is limited to two academic years (64 attempted hours at SGC), with second year eligibility contingent upon the student having a 3.0 GPA or higher at the conclusion of the first academic year. Additional requirements apply.

4. What is Federal Work-Study?
   The Federal Work-Study program is a need-based employment program for an undergraduate, graduate, or professional student. Since it is a "need-based" award, eligibility will depend on the student's household size and income in addition to the costs of attendance of the school the student plans to attend. Under the program, employment may be on campus or off campus. As with the Federal Supplemental Educational Opportunity Grant, the College receives limited funding for this program each year. Therefore, not every student who qualifies for the grant will receive an award.

5. What is a Federal Stafford Loan?
   Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest. Loans are legal obligations, so a student should consider the amount that will need to be repaid over the years before applying for a loan. Federal Stafford Loans are for undergraduate, graduate, and professional students who are enrolled at least half-time. South Georgia College offers Federal Stafford Loans as part of the Federal Family Education Loan (FFEL) Program, where private lenders provide funds that are guaranteed by the federal government.

6. What is a Federal PLUS Loan?
   The Federal PLUS Loan is a parent loan program for parents of undergraduate students. Only parents of a dependent undergraduate student are eligible to apply for a PLUS loan.