The Financial Aid Office is located in the Public Service Building, Room 150. The office is open for walk-ins and appointments: Mondays and Tuesdays, 8:00 a.m. to 6:00 p.m.; Wednesday through Friday, 8:00 a.m. to 5:00 p.m.
Basic Aid Opportunities
The following programs are available at Rhodes State College:
- Pell Grant - The Federal Pell Grant is awarded based on full-time (12 hrs. or more), part-time (9- 11 hrs.), half-time (6-8 hrs.), or less than half-time (.5-5 hrs.). The award maximum is $5,815. A student is eligible for the Pell Grant for 12 full-time semesters or 600%. Check your Lifetime PELL percentage at www.nslds.ed.gov.
- SEOG - The Federal Supplemental Educational Opportunity Grant is awarded to those students who have the lowest EFCs, are enrolled full-time, and have a GPA greater than 1.99. The award maximum is $750 and funds are limited. Not all students who meet the qualifications will be awarded SEOG, due to budget allocations. Priority is given to those students who file the FAFSA by May 15.
- Federal Work Study - The Federal Work Study Program (FWSP) award determination is based on the date the FAFSA was submitted and an unmet need greater than $1000. Funding is limited. A student who is not eligible for the Federal Work Study grant may be eligible to work at the college and be paid student wages. The student employee must follow the Standards of Satisfactory Academic Progress (SAP) as stated on the following page. You must secure college employment on your own. All work study positions are posted online at www.collegecentral.com/rhodesstate. No awards can be disbursed until all appropriate paperwork is submitted to the Human Resources Office.
- Federal Direct Loans - Both the subsidized and unsubsidized loan must be repaid. The maximum loan for dependent students is $5,500 for up to 30 earned hours and $6,500 for 31 hours to maximum hours per program. For both independent and dependent students whose parents are denied a Parent Plus Loan, an additional $4,000 may be secured each year. Failure to maintain at least six credit hours each term will result in the cancellation of the loan.
- Federal Direct PLUS Loans - The PLUS loan is a loan borrowed by a parent for a dependent undergraduate student. The maximum award amount is the student’s Cost of Attendance less other financial aid that the student receives. A student must be registered for at least six credit hours to remain eligible. Failure to maintain at least six credit hours each term will result in the cancellation of the PLUS loan.
Estimated Financial Assistance (EFA) is all financial aid from other sources that the student is expected to receive. Need based aid includes subsidized loans, Pell grant, Federal Work Study and certain scholarships.
All federal, state, and institutional aid cannot exceed the student’s Cost of Attendance (COA). COA less Expected Family Contribution (EFC) less EFA = total subsidized loan. COA-EFA, including subsidized loans = total unsubsidized loan. (Federal Student Aid Handbook, 2015-2016).
Other Sources of Financial Aid
Students are encouraged to check the internet for additional private scholarships and funding opportunities. Three reliable sources are www.fastweb.com, www.collegequest.com and www.salliemae.com/plan-for-college/scholarships. External scholarship applications are located on the Scholarship board between the Financial Aid Office and the Bookstore. For more loan funding options, students may inquire about alternative loan and PLUS loan details and eligibility requirements in the Financial Aid Office. Also local, county and state agencies, such as BVR and WIA may have funding sources, based on specific criteria.
Note: Student aid packaging will include funding from other third party sources in combination with all federal, state and institutional aid which cannot exceed the student’s Cost of Attendance (COA).
Students’ financial aid is credited to their billing account. Depending on the amount of financial aid awarded, a student may receive a book voucher for the purchase of books and materials. (Book voucher forms must be submitted to the Office of Financial Aid 24 hours before use, and all aid requirements must be completed.)