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Federal & State
Programs
All students must
complete the FAFSA (Free Application for Federal Student Aid). All
applicants who receive a Federal Pell Grant or Federal Supplemental
Education Opportunity Grant will have a loan included in their awards.
Applicants may decline the loan; however, a grant or scholarship will not be
substituted for a loan that is declined.
Kansas
Comprehensive Grant
Kansas residents should apply
for this need-based state-funded grant by filling out the Free Application
for Federal Student Aid by March 1. The maximum award in recent years has
been $3,000. The FAFSA should be mailed by March 1 in order to meet the
priority deadline of April 1. You must be enrolled in a minimum of 12
semester hours and maintain a cumulative 2.0 GPA. This grant may be received
for eight semesters if you show need on the FAFSA.
Kansas Nursing
Scholarship
Administered by the Kansas State
Board of Regents, these scholarships pay students $3,500 per year and are
jointly funded by the state and a health care provider. The student must
meet criteria for the Kansas Nursing Scholarship, and any set forth by the
health care provider. For each year the student receives the scholarship,
he or she must provide one year of full-time employment to the health care
provider that sponsors the scholarship. This is a particularly attractive
scholarship for students who wish to work in Kansas following graduation.
Stormont-Vail HealthCare participates in the scholarship program by
offering sponsorships to students entering the Baker University School of
Nursing in the fall semester.
Kansas State
Scholarship
Kansas
residents may apply for this need-based scholarship by releasing their ACT
test scores to the Kansas Board of Regents no later than the December test
date of their senior year in high school. Students are designated state
scholars by the Kansas Board of Regents each May. You must also show
financial need on the Free Application for Federal Student Aid, complete an
additional state aid application, and be enrolled in a minimum of 12
semester hours to receive up to $1,000 as a state scholar. Renewal is based
on maintenance of a cumulative 3.0 GPA.
Federal Pell
Grant
The U.S. Department of Education determines recipients and the amount of the
award is based on FAFSA results. The maximum award is $4,050 in 2004-2005,
and is targeted to high-need students.
Federal
Supplemental Educational Opportunity Grant
Recipients must show need on the FAFSA each year for renewal. Grants will be
awarded to students with exceptional need for funding. The amount can vary
each year and depends on funding. Preference is given to full-time students
who are eligible for Federal Pell Grants.
Federal
Perkins Student Loan
Perkins Loans are available for the neediest students, based on the FAFSA
results. The amount of the loan advance each year can be up to $3000,
depending on the availability of funds. The maximum that can be borrowed as
an undergraduate student is $12,000. A minimum payment of $40 per month at
5% interest begins nine months after the student is no longer enrolled at
least half-time. This repayment period can be up to 10 years, depending on
the total borrowed.
Federal
Stafford Student Loan
This loan is funded by a bank, savings and loan association, or a credit
union. There are two kinds of Stafford Loans. "Subsidized" is based on need,
and the government pays the interest while you are in school. "Unsubsidized"
is not need-based, so it is available to students regardless of financial
need. The interest rate is variable, adjusted each July 1, and is currently
2.77%. Six-months after a student ceases at least half-time enrollment,
monthly payments of not less than $50 begin on interest and principal. The FAFSA is required. The maximum that can be borrowed during the freshman year
is $2,625. Sophomores are eligible for $3,500. The maximum a student may
borrow during the junior and senior years increases to $5,500 per year.
Federal Parent
Loan for Undergraduate Students (PLUS)
The interest rate for this loan is currently 4.17% and repayment begins 60
days after the loan is fully disbursed for the academic year. The FAFSA must
be filed, although this loan is not based on need. The maximum amount
parents may borrow is cost of attendance minus financial aid.
Alternative
Loans
In addition to the federal loans described above, a variety of alternative
student loans are available to families. They include such loans as the
Sallie Mae Signature and Key Alternative. Information about these programs
is available from Baker's Admission Office or Student Financial Aid Office.
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