MY eduCatiON - Chamberlain

OVERVIEW OF FINANCIAL ASSISTANCEGRANTS & SCHOLARSHIPSGrants and scholarships are forms of financial aid provided by the institution,federal or state governments or other outside sources and are typically notrepaid. There are criteria you must meet in order to qualify depending onthe program.Federal Pell GrantThe Federal Pell Grant is for eligible undergraduate students who have notearned a bachelor’s degree. The grant offers up to $5,730 per award year.The actual amount is based on the cost of attendance, enrolled credit hours,Federal Pell Grant regulations and your Expected Family Contribution (EFC). Theamount of Federal Pell Grant funds a student may receive over his/her lifetimeis limited by federal law to the equivalent of six years of Pell Grant funding.Since the maximum amount of Pell Grant funding a student can receive eachyear is equal to 100 percent, the six-year equivalent is 600 percent.You have currently used _____________ percent of yourFederal Pell Grant funding.Federal Supplemental Educational Opportunity Grant (FSEOG)FSEOG is for eligible undergraduate students with exceptional needs whohave not earned a bachelor’s degree. FSEOG is $375 per semester for thosewho qualify. The federal government provides the institution with a limitedamount of money and once funds are exhausted, no more funds are awardedfor the year.Chamberlain Access GrantThe Chamberlain Access Grant is additional grant funding for recipients ofthe Federal Supplemental Educational Opportunity Grant. This grant is fundedby Chamberlain College of Nursing in the amount of $125 per semester for anystudent receiving FSEOG.State-Funded ProgramsSome states have grant and scholarship programs that provide fundingto students who demonstrate financial need or have successfully achievedcertain academic qualifications. Recipients are typically required to attenda location within the state of legal residence and provide proof of residency.Your student services advisor can provide additional information on yourstate’s requirements.ScholarshipsChamberlain offers scholarships each year to students who meet specifiedcriteria. In addition, many outside scholarships are available from varioussources. For more information about scholarships, speak to your studentservices advisor and visit the financial aid page at chamberlain.edu.Federal Work-Study (FWS)Federal Work-Study enables students who demonstrate financial need to earnmoney to help cover their educational expenses. Students must complete theFree Application for Federal Student Aid (FAFSA) to be considered for FWSfunds. With this program, students earn at least the current hourly minimumwage by working at the school or for nonprofit or private for-profit agencies.Chamberlain College of Nursing helps eligible students locate jobs; certainrestrictions apply.LOANSLoans are forms of financial aid that must be repaid, typically after you havegraduated or stopped attending school. Qualification may be based on needand, in some cases, a credit check may be required.Federal Stafford LoansFederal Stafford Loans are low-interest loans that offer a range of flexiblerepayment options. Repayment can also be deferred while the student isenrolled in school at least half-time. Loan amounts are based on a numberof factors, including the number of credit hours earned toward your degree.• Subsidized Stafford LoansSubsidized Stafford Loans are available to undergraduate students whodemonstrate financial need. The federal government pays interest onthe loan while the student continues to be enrolled at least half time.• Unsubsidized Stafford LoansUnsubsidized Stafford Loans are available to undergraduate and graduatestudents, regardless of financial need. The student is responsible for theinterest accrued on the loan. The student may let the interest capitalize,but Chamberlain College of Nursing suggests that the student pay theinterest quarterly.Eligibility for a Maximum Combined Stafford Loan(Subsidized & Unsubsidized):Grade LevelEarnedCredit HoursIndependentStudentsEligible Amount*DependentStudentsEligible Amount*Freshman 0-28 $4,750 $2,750Sophomore 29-58 $5,250 $3,250Junior 59-88 $6,250 $3,750Senior 89+ $6,250 $3,750Graduate $11,250*Per semesterInterest rates are fixed at 3.86 percent for Stafford Loans disbursed betweenJuly 1, 2013 and June 30, 2014.Once you graduate, leave school or enroll less than half-time, you’ll have asix-month grace period before repayment begins.Federal PLUS LoansThe Federal PLUS Loan is a credit-based federal student loan offered toqualified graduate students or parents of undergraduate students. A creditcheck is required to determine the creditworthiness of the borrower.Interest rates are fixed at 6.41 percent for PLUS loans disbursed betweenJuly 1, 2013 and June 30, 2014. Contact your student services advisor and visitstudentloans.gov to learn details about the loan program and how to apply.Private Student LoansPrivate loans are bank loans for educational expenses and are not insuredor lent by the government. Many programs allow students to borrow up to thecost of attendance minus any financial aid received (including federal studentloans). Terms of repayment vary depending upon the lending institution. Visitchamberlain.edu or speak to your student services advisor to learn more.

NEXT STEPSThings To DoDue DateDetermine primary source of financingchamberlain.edu/financialaidAccreditation & Approvals:Chamberlain College of Nursing is accredited by The Higher Learning Commission (HLC) and is a member of the North Central Association of Colleges and Schools, ncahlc.org. HLC is oneof the six regional agencies that accredit U.S. colleges and universities at the institutional level. The Bachelor of Science in Nursing degree program and the Master of Science in Nursingdegree program at Chamberlain College of Nursing are accredited by the Commission on Collegiate Nursing Education (CCNE, One DuPont Circle, NW, Suite 530, Washington, DC 20036,202.887.6791). The Associate Degree in Nursing program at the Columbus location is accredited with conditions by the Accreditation Commission for Education in Nursing (ACEN, 3343Peachtree Road NE, Suite 850, Atlanta, GA 30326, 404.975.5000). Accreditation provides assurance to the public and to prospective students that standards of quality have been met.Chamberlain College of Nursing, 2450 Crystal Drive, Arlington, VA 22202 is certified to operate by the State Council of Higher Education for Virginia, 101 N. 14th Street, 10th Floor,James Monroe Building, Richmond, VA 23219, 804.225.2600. Chamberlain College of Nursing has provisional approval from the Virginia Board of Nursing, Perimeter Center, 9960 MaylandDrive, Suite 300, Henrico, VA 23233-1463, 804.367.4515. AC0107Program/program option availability varies by state/location. Chamberlain reserves the right to update information as it becomes available. Information is current at the time of publication.For the most updated accreditation information, visit chamberlain.edu/accreditation. Comprehensive consumer information is available at chamberlain.edu/studentconsumerinfo.National Management Office | 3005 Highland Parkway, Downers Grove, IL 60515National Toll-Free 888.556.8CCN (8226)12-140201©2014 Chamberlain College of Nursing LLC. All rights reserved.0214pflcp25m