Federal Pell Grants
Grants are awarded based solely on financial need. Unlike loans, grants don't have to be repaid. The maximum Pell Grant amount for 2012-2013 is $5,550.00.  Pell Grant is based on enrollment status.

Federal SEOG (Supplemental Educational Opportunity Grant)
This is a federally-funded grant for undergraduates who also qualify for a Federal Pell Grant. Awards are generally about $500.00 per year and are very limited.

Federal Direct Loans
Loans, unlike grants or work-study, are borrowed money that must be repaid. These loans are a serious obligation, so think about the amount you'll have to repay over the years before you take out the loan. The school will disburse your loan in at least two installments; no installment will be greater than half the amount of your loan. Your loan funds must first be used to pay for your tuition, fees, Southeast Tech laptop, and Southeast Tech housing. If loan funds remain, you will be issued a refund by the school's business office.  You must be enrolled at least half-time (classes required towards your program) to be eligible to receive Direct Loans.

Federal Direct loans are either subsidized or unsubsidized.

• Subsidized loans are loans that the federal government will pay the interest on the loan while you are enrolled at Southeast Tech at least half-time.
• Unsubsidized loans have all the same terms as the subsidized Direct loan; however, the interest is accruing at all times. The federal government DOES NOT pay any interest for you.

Interest Rates
As of July 1, 2011 the interest rate is fixed at 3.4% for subsidized Direct loans and 6.8% for unsubsidized Direct loans.

Annual Limit	Dependent Undergraduate	Independent Undergraduate
First Year	$5,500.00 – no more than $3,500.00 of this amount may be in subsidized loan	$9,500.00 – no more than $3,500.00 of this amount may be in subsidized loan
Second Year	$6,500.00 – no more than  $4,500.00 of this amount may be in subsidized loan	$10,500.00 – no more than $4,500.00 of this amount may be in subsidized loan
Aggregate Limit	$31,000.00 – no more than $23,000.00 of this amount may be in subsidized loan	$57,500.00 – no more than $23,000.00 of this amount may be in subsidized loan

Federal Parent PLUS Loans
The Federal PLUS Loan is intended for parents of dependent undergraduate students to help pay for their student's cost of education. Approval is based on credit guidelines set by the federal government, not based on need or income, and requires no collateral. To apply online for the PLUS loan at Southeast Tech, please click here.