Federal Financial Aid

The U.S. Department of Education, through Title IV of the Higher Education Act, provides students with excellent resources to fund their education. Harrington College of Design participates in a variety of these programs to help ensure eligible students have equal access to federal financial aid.

Students can access the Department of Education's Funding Your Education page to help gain a more-detailed understanding of student financial aid programs. We also suggest referencing the school catalog for additional, more-specific information about various forms of financial aid. Harrington's student finance representatives can also help students identify financial aid options for which they may qualify, including the following Title IV programs:

Federal Pell Grant

Grants are free money, that is, they do not need to be paid back. The Pell grant program is designed to assist needy undergraduate students who desire to continue their education beyond high school. All students are encouraged to apply through the FAFSA. Eligibility is determined by a standard federal formula which includes family size, income and resources to determine need.

How much can I get?
The maximum amount of Pell Grant (for those who qualify) depends on program funding and may change each award year (July 1st - June 30th). The amount a student may receive depends on financial need, cost to attend school, enrollment status and the number of terms/payment periods attended.

2011-12 Federal Pell Grant Maximum
Range:	$555 - $5,550

Federal Supplemental Educational Opportunity Grant (FSEOG)

The FSEOG is a grant program for undergraduate students with exceptional need. Priority is given first to students with Federal Pell Grant eligibility. The federal government allocates FSEOG funds to participating schools. This is a limited pool of funds and the school will determine the awarding criteria based on federal guidelines. Often, due to limited funding, FSEOG award resources are exhausted early in the award year.

How much can I get?
Amounts vary each award year based on the funding levels allocated to the school. For those who qualify, awards may vary based on financial need and the policies of the financial aid office.

2011-12 FSEOG Maximum
Range:	$100 - $4,000

Federal Perkins Loan

A Federal Perkins Loan is a low-interest loan for both undergraduate and graduate students with exceptional financial need. This is a limited pool of funds and the school will determine the awarding criteria based on federal guidelines. Often, due to limited funding, Federal Perkins funds are exhausted early in the award year. Federal Perkins Loans are made through the school's financial aid office.

Note: Not all schools participate in the Federal Perkins Loan program. Please contact your Financial Aid Office to discuss funding options. Terms and Conditions.

How much can I borrow?
The amount available to those who qualify is dependent upon the timing of the application, financial need, and the funding levels available at the school.

2011-12 Federal Perkins Loan Maximums
Academic Level	Annual Maximum	Aggregate Max
Undergraduate	$5,500	$27,500
Academic Level	$8,000	$60,000

Federal Student and Parent Loans

The Department's major form of self-help aid includes loans to students and parents through the William D. Ford Federal Direct Loan (Direct Loan) Program. Direct Loans include Federal Stafford, Federal Parent-PLUS, Federal Grad-PLUS and Federal Consolidation Loans and are available through the U.S. Government.

• Federal Direct Stafford Loans
  Loans are money that must be paid back. Federal Stafford loans are low-interest loans that are made to the student. These loans do not require a credit check and are available to pay for direct costs (tuition and fees, books and supplies) and indirect education related expenses (room, board, transportation and personal expenses). As of July 1st, 2010 all schools participate in The William D. Ford Federal Direct Loan program (DL). There are two types of Stafford loans; subsidized and unsubsidized.
  
  A Subsidized loan is need-based and the government pays (subsidizes) the interest while the student is in school at least half-time and for six months after the student ceases attending at least half-time (called a grace period).
  
  If students don’t qualify for a subsidized loan, they may qualify for an Unsubsidized loan. (Independent students may also qualify for additional unsubsidized loan beyond the base amount.) Unlike a subsidized loan, the student is responsible for paying the interest that accrues from the time the loan is disbursed until it is paid in full. Students may choose to pay the interest while in school or allow it to accrue and be capitalized (that is, added to the principal amount of the loan). Capitalizing the interest will increase the amount to repay.
  
  Loan limits depend on the student’s grade level and loan type (subsidized or unsubsidized).
  

  Federal Stafford Loan Annual Maximums
  (Subsidized & Unsubsidized Combined)
  Year	Dependent Student	Independent Student
  Year 1	$5,500	$9,500
  Year 2	$6,500	$10,500
  Year 3 & 4	$7,500	$12,500
  Graduate	n/a	$20,500

  Life Time Limits	Dependent Student	Independent Student
  Undergraduate	$31,000 With no more than $23,000 subsidized	$57,500 With no more than $23,000 subsidized
  Graduate	n/a	$138,500 With no more than $65,500 subsidized

  Terms and Conditions
  
  
• Federal Direct Parent-Plus
  The William D. Ford Federal Direct Parent-PLUS loan is available to a parent of dependent, undergraduate students. Either or both parents may borrow through this program. The Parent PLUS is not based on need, but when combined with other resources cannot exceed the student’s cost of attendance. A credit check on the parent borrower is required. Repayment begins within 60 days of final disbursement of the loan. However, parents may request deferment of payments while the student is attending at least half time.
• Federal Direct Graduate-Plus
  The William D. Ford Federal Direct Grad-PLUS loan is available to a student seeking a Graduate and/or Professional degrees and are not based on need. A credit check is required and the student must complete the FAFSA. Repayment begins within 60 days of final disbursement of the loan. However, students may request deferment of payments while attending at least half time.
  
  How does the borrower get a loan?
  Parents (Parent PLUS) and Graduate students (Graduate PLUS) must complete a Direct PLUS Loan application and promissory note, contained in a single form that students may request from the financial aid office. Terms and Conditions.
  
  How much can I borrow?
  The yearly limit on a PLUS Loan (Parent and Graduate) is equal to the cost of attendance minus any other financial aid received. For example: If the cost of attendance is $20,000 and the student receives $8,000 in other financial aid, the PLUS loan may not exceed $12,000.

Federal Work Study (FWS)

FWS is a financial aid program designed to assist students in meeting some of the costs of their education by working part-time while attending school. Positions may be on-campus, off campus, or community service related. A candidate must demonstrate financial need (as determined by the Department of Education) to be eligible for a FWS award. The number of positions available may be limited depending upon the institution’s annual funding allocation from the federal government.

How much can I earn?
Federal Work Study students are paid an hourly wage. Wages for the program must equal at least the current federal minimum wage, but may be higher, depending on the type of work performed and the skills required. The maximum amount a student may earn in an award year cannot exceed the total FWS award. When assigning work hours, the employer or financial aid administrator will consider the award amount, class schedule, and satisfactory academic progress. For a listing of available positions please contact the Financial Aid Office.

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