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Types of Financial Aid
Federal Pell Grant
The Pell Grants provide awards up to $4,050 for the full academic year for students with the greatest financial need. Awards are reduced for students enrolled less than full time. The grants are intended for students that have not earned their first baccalaureate degree.
Federal Supplemental Educational Opportunity Grant
SEOG Grants range from $200 to $1000 for students with exceptional financial need. Priority is given to students who receive Federal Pell Grants and filed before the March 15th deadline. The Grants are intended for students that
have not earned their first baccalaureate degree.
New Jersey Tuition Aid Grant (TAG)
Grant
awards range from $636 to $4664 and are awarded to students with the greatest financial need. Recipients must be a resident of New Jersey and
enrolled full time in an undergraduate program for this award. The award is renewable for up to nine semesters. TAG applicants must file the. First-time students must file an FAFSA by October 1. Continuing students must file an FAFSA by June 1. Students transferring to Kean for the spring semester must notify The New Jersey Higher Education Student Assistance Authority (NJHESAA) by March 15. Awards are made by NJHESAA.
New Jersey Educational Opportunity Fund (EOF)
Grants are
up to $1,300 per academic year for on-campus resident students
and $1,050 per academic year for commuter students. Students must be residents of New Jersey with financial need and a scholastic background that might otherwise prevent them from attending college. EOF candidates must file the FAFSA and enroll full time to be considered. An EOF grant can be combined with the Tuition Aid Grant. Awards are made by NJHESAA.
Federal Perkins Loan
This loan is administered by the University. Depending on funding available,
loan amounts range from $600 - $1200 per academic year. Priority is given to students who file before the March 15 th deadline. The Perkins Loan carries an interest rate of 5 percent. Repayment begins nine months after you graduate, leave school, or drop below half-time enrollment status.
This is a need-based loan.
Federal Work-Study
The Work-Study Program provides jobs for students with financial need, allowing them to earn money to help pay educationally related expenses. The program offers jobs on campus and with off-campus community service agencies. Students are paid on an hourly basis and usually work up to 20 hours per week. Academic year earnings range from $1,400 to $2,000. Work-Study applications are available on the Kean University Website.
William D. Ford Federal Subsidized Direct Loan Program
This loan program is administered by the University. This loan is need-based
with maximum academic year loan limits determined by a student's grade level. Freshmen may borrow up to $2,625; sophomores may borrow $3,500.
After the sophomore year, students may borrow up to $5,500 per year.
The maximum undergraduate total loans cannot exceed $23,000.
The interest rate may vary annually but will never exceed 8.25 percent.
No interest is charged on this loan while the student borrower is attending
school on an at least a half-time basis. Repayment begins six months after
you graduate, leave school, or drop below half-time enrollment status.
Several repayment plans are available.
Non-Need Based Financial Aid
New Jersey Edward J. Bloustein Distinguished Scholars
Program
This program offers $1,000 in scholarship aid per academic year, without
regard to financial need. Awards are given to the highest-achieving students at New Jersey secondary schools. Edward J. Bloustein Distinguished Scholars are students who place in the top 10 percent of their class at the end of their junior year and have a combined SAT score of at least 1260, or who rank first, second or third in their class. This program is administered by the state as part of the Garden State Scholarship Program.
New Jersey Urban Scholars Program
These scholarships recognize academically talented students from New Jersey's urban and economically distressed areas. Urban Scholars are offered $1,000
per academic year. To be considered for this scholarship, candidates must also be in the top 10 percent of their class and have a grade point average of at
least 3.00 (on a 4.00 scale) at the end of their junior year. This program is administered by the state as part of the Garden State Scholarship Program.
Kean University Trustee Scholarships
Scholarships of $2,000 annually will be awarded to incoming freshmen whose applications for admission reflect a minimum GPA of 3.00 and a combined SAT score of 1260. The award is renewable for a total of four years, providing that
a GPA of 3.00 and continuous full-time enrollment are maintained.
Kean University Presidential Scholarships
Scholarships of $1,500 annually will be awarded to incoming freshmen whose applications for admission reflect a minimum GPA of 3.00 and a combined SAT score of 1140. The award is renewable for a total of four years, providing that
a GPA of 3.00 and continuous full-time enrollment are maintained.
Kean University Academic Merit Scholarships
Scholarships of $1,000 annually will be awarded to incoming freshmen whose applications for admission reflect a minimum GPA of 3.00 and a combined SAT score of 1010. The award is renewable for a total of four years, providing that
a GPA of 3.00 and continuous full-time enrollment are maintained.
Kean University Foundation Scholarships
Periodically, the University Foundation Office receives funding from private sources for scholarships for specific areas of study. The eligibility criteria may vary and are usually established by the donor. Eligible admitted candidates will
be notified upon confirmation of available funds.
Kean University, Dr. James E. Dorsey Scholarships
This program is designed to recognize gifted and academically talented African-American and Latino New Jersey resident applicants. A limited number of candidates who present an outstanding academic record, a minimum grade
point average of 3.00, combined SAT scores compatible with regular admission standards and exhibit special talents and demonstrate leadership abilities in school and community service will be considered. The award is renewable and scholar recognition and benefits will remain constant providing a 3.00 GPA and continuous full-time enrollment are maintained.
Kean University In-State International Student Scholarship
An international student with citizenship from a country other than the United States and who is attending the University on an F-1 Visa is eligible for consideration. Providing the student is not eligible for federal and state aid, scholarship consideration will be based on degree status and full-time
enrollment. Students must be enrolled for one full academic year prior to the award period with a minimum 2.50 overall grade point average. Thirty-five scholarships are awarded each year. The scholarship is a waiver of the non-resident tuition rate. International students must apply each academic year for the scholarship. Applications are available in January in the One-Stop Service Center and Scholarship Office.
Scholarship Search Service www.fastweb.com
Kean University students can take advantage of a free scholarship search service online. This service enables a student to set up an individual scholarship search Internet account. The scholarship database includes nearly 300,000 sources of funds. After you set up your account, the Internet service will notify you electronically any time a scholarship source matches your personal and academic profile. Once a scholarship match is made, follow-up information is provided to the student. Fastweb.com is one of the best electronic sources for private scholarships in the nation.
William D. Ford Federal Direct Unsubsidized Loan
This loan is available to eligible students regardless of financial need or family income. If a student files an FAFSA and is not eligible for the Subsidized Direct Loan, the Unsubsidized Direct Loan is offered in its place. Freshmen may borrow up to $2,625; sophomores may borrow $3,500. After the sophomore year, students may borrow up to $5,500 per year. The maximum undergraduate total loan limit is $23,000. The interest rate may vary annually but will never exceed 8.25 percent. Interest payments for the Unsubsidized Direct Loan begin the day the loan is disbursed to the student and can be paid monthly, quarterly, or capitalized to the loan. Capitalizing the interest payments will add the scheduled interest payment to the loan principal. A student may receive a subsidized and unsubsidized direct loan for the same loan period as long as the total does not exceed the annual maximum amount. Students are required to file an FAFSA to determine eligibility for a subsidized loan before an unsubsidized loan is considered. Additionally, if a dependent student's parents apply for a PLUS Loan and are denied, the student may receive additional funds in an unsubsidized loan.
Federal Direct Parent Loan for Undergraduate Students
(PLUS)
These loans are based on credit history of parents or legal guardians of a dependent student. Students should file an FAFSA to determine eligibility for need-based aid before the family considers a PLUS Loan.
New Jersey College Loans to Assist State Students (CLASS)
The CLASS loan program is designed to assist in-state and out-of-state middle income families with long-term financing of college costs. For information and
an application, please contact the New Jersey Higher Education Assistance Authority at (800) 792-8670. The student should file an FAFSA to determine eligibility before considering a New Jersey Class Loan.
TMS - Installment Payment Plan
The Tuition Management Systems (TMS) is available for full-time students only. The plan enables you to pay all or part of your annual fees in installments without interest charges. The plan may be used to pay the balance remaining after the application of financial aid grants, loans and scholarships. TMS allows you to spread your educational expenses over five equal monthly payments per semester or ten payments per academic year. The enrollment fee is $25.00 per semester or $50.00 per year. Credit Card payment can be made by MasterCard, Visa, Discover or American Express through TMS. A convenience fee of between 2 and 3 percent will be charged to the cardholder. The plan is available for the Fall and Spring semesters only. Questions regarding the plan should be directed to its toll-free number: (800) 722-4867 and for additional information access TMS website directly at www.afford.com |
