Download the Financial Aid Booklet - Franklin Pierce University

Student EmploymentFranklin Pierce awards Federal Work Study to students deemed eligible by federalregulations. Federal Work Study is a fund that is not directly credited tothe student’s account. These funds are earned by the student and paiddirectly to the student in the form of a bi-weekly paycheck. Earningsby students who participate in the Federal Work Study programare sheltered when filing a FAFSA form for a subsequentyear’s financial aid application. Students who participatein the Institutional Work Program are not eligible for thesheltering of student employment earnings on the FAFSA.Federal Subsidized and UnsubsidizedStafford LoanFederal Subsidized and Unsubsidized Stafford Loansare funds awarded to students that must be repaid.Students are expected to complete a Master PromissoryNote and Entrance Loan Counseling in order to havefunds disbursed. Students are required to complete aMaster Promissory Note only once. Subsidized Staffordloan recipients benefit from the federal governmentsubsidizing the interest on the student’s loan throughout thecourse of his/her academic program. Unsubsidized StaffordLoan recipients are responsible for all interest costs accruedunder this loan program. For both loans students have the optionof paying interest payments monthly, or capitalized interest paymentsuntil completion of the official repayment period on the loan. Studentsbegin repayment on these loans six months after graduation, withdrawal or whentheir enrollment falls below half time status.Federal Stafford Loan Borrowing LimitsUndergraduate Subsidized Unsubsidized Total LimitFreshman $3,500 $2,000 $5,500Sophomore $4,500 $2,000 $6,500Junior $5,500 $2,000 $7,500Senior $5,500 $2,000 $7,500Independent undergraduate students are also eligible to borrow funds through the Unsubsidized Stafford Loan Program. These loanamounts are capped at $4,000 for freshman and sophomore students, and $5,000 for juniors and seniors. Your financial aid award letterwill detail your maximum eligibility through the loan amounts awarded to you.www.franklinpierce.edu81.877.372.7347