Types of Financial Aid Print E-mail

Financial aid is any source of funds available that assist students to pay for the costs of a college education. Most assistance is based on demonstrated financial need. Some assistance, like scholarships, is based solely on merit. If you think you will need assistance, you are encouraged to apply for financial aid.


There are a few types of financial aid. Usually, a student is offered a combination of aid, known as a financial aid award, from these programs. Click on each of the financial aid types to learn more.

 

Federal Grants

Scholarships

Federal Loans

State Financial Aid

Federal Work Study

Other Financial Aid


 

 

Federal Grants

 

  • Federal Pell Grant is a need-based grant awarded to U.S. citizens or eligible non-citizens. Awards vary from $582 to $5,645 for the 2013-2014 academic year.

  • Federal Supplemental Educational Opportunity Grant (FSEOG) is a need-based grant awarded to students with an Expected Family Contribution (EFC) of $0. Eligible students must be enrolled at least half-time. Because of limited funds, students must meet the financial aid priority deadline of March 1.

 

 

 

 

 

Federal Loans

 

 

  • Federal Direct Subsidized Loan is a need-based loan awarded to students enrolled at least half-time with a 6.8 percent fixed interest rate. Before graduation, borrowers must complete an exit counseling session. The maximum annual loan amounts are based on classification: Freshman: $3500, Sophomore: $4500, Juniors & Seniors: $5500. First-time borrowers must complete a Master Promissory Note and an entrance counseling session before receiving loan proceeds. Both requirements for first-time borrowers can be found here.

  • Federal Direct Unsubsidized Loan is a non-need based loan with a 6.8 percent fixed interest rate that accrues interest while the student is enrolled in school. Students may choose to repay the interest while enrolled, or defer the interest to be repaid with the principal balance. Rebate for on-time payment is included in the loan amount. Repayment begins six months after the student graduates or is enrolled less than half-time.

 

 

  • Federal Direct Parent PLUS Loan is a loan that can be borrowed by parents to assist students with the costs of their educational program. The annual maximum amount of the loan depends on the cost of attendance and other sources of financial aid received.

 

 

 

 

Federal Work Study


 

  • Federal Work Study Program is a federal program where students are able to earn a portion of their financial aid award through on or off campus employment. More information about the Federal Work Study Program can be found here.

 

 

 

 


Scholarships


  • Scholarships are financial awards based on merit or other classifications. BRCC has several scholarships available to its students. For more information about our scholarships, please click here.

State Financial Aid

 

 

  • Taylor Opportunity Program for Students (TOPS) is a comprehensive program of state scholarships managed through the Louisiana Office of Student Financial Assistance (LOSFA). To find out more information about the TOPS program, please click here.

  • Louisiana Go Grant is a need-based financial aid program for nontraditional and low to moderate income students. Louisiana resident students who are eligible for and receive the federal Pell grant may also be eligible. To find out more information about the Louisiana Go Grant, please click here.

  • Louisiana Vocational Rehabilitation is an educational assistance program for disabled students that are designed to equalize employment opportunities. For more information about the Louisiana Vocational Rehabilitation program, please click here.

 


 


Other Financial Aid


 

  • Veterans Affairs Educational Benefits are programs that are available to veterans. To find more information about these programs, please click here.

  • American Indian Students Benefits are programs that are available through the Bureau of Indian Affairs. If you can verify your Indian ancestry and acquire a tribal membership, you may be eligible for assistance. For more information about these programs, please click here.


  • Hardship Waiver of Tuition and Fee Increases is a need-based program available for students to address the increases of tuition and fees specified by Legislation, including the Academic Excellence Fee and the Operational Fee. The determination of need will be based on the income and need tables as established by the FAFSA application, state residency and academic eligibility for financial aid. Criteria include students who apply and whose tuition and fees are not covered, or covered fully, by another source of financial assistance such as Pell, TOPS or other grants in order of greatest need. For more information about this program and to obtain an application form, please see the Office of Financial Aid and Scholarships in the Bienvenue Student Center.