Academic Competitiveness Grant (ACG)
Provides up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study to full-time students who are eligible for a Federal Pell Grant, U.S. Citizens, and who successfully completed a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education.  Second year students must have maintained a cumulative grade point average (GPA) of at least 3.0.   The program will be available for the first time for the 2006-07 school year for first year students who graduated from high school after January 1, 2006 and for second year students who graduated from high school after January 1, 2005.

National Science and Mathematics Access to Retain Talent Grant (SMART)
Provides up to $4,000 for each of the third and fourth years of undergraduate study to full-time students who are eligible for a Federal Pell Grant, U.S. Citizens, and who are majoring in physical, life, or computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security.   The student must also have maintained a cumulative grade point average (GPA) of at least 3.0 in coursework required for the major.

Federal Work-Study Program (FWSP)
The FWSP provides part-time jobs during the academic year and full- or part-time jobs during the summer for students who have financial need and who must earn a part of their educational expenses. Jobs may be on or off campus with a public or private nonprofit agency including jobs in community service areas. Salary will be no less than the current minimum wage and will also be related to the type of work performed and skills required. The FWSP award has a set earning limit that cannot be exceeded. These funds are awarded on a first-come, first-completed basis to qualified applicants who show exceptional financial need.

Federal Perkins Loan
Federal Perkins Loans are made directly through Briar Cliff University with funds provided jointly by the university and the federal government.  The interest rate is fixed at 5.00%.  The amount of the Perkins Loan depends upon available funds and your financial need as determined by the results of your Free Application for Federal Student Aid (FAFSA).  The federal government pays the interest for you as long as you are enrolled at least half-time and through your nine-month grace period.  The standard repayment period is 10 years.  Institutions may extend the repayment period for the Deferred Perkins Loan up to 10 additional years for low-income individuals.

Federal Subsidized Stafford Loan
The Federal Subsidized Stafford Loan program enables students to borrow money directly from banks, credit unions, or savings and loans. All borrowers will have a fixed interest rate of 6.80%.  Lenders may charge a 2% origination fee that is deducted from the amount you borrow.  Briar Cliff University's preferred lenders pay this fee on behalf of their borrowers; therefore, you receive more money upfront when using one of these lenders.  The annual loan maximums for dependent students are $2,625 for freshmen, $3,500 for sophomores and $5,500 for juniors and seniors.  Independent students may have expanded borrowing capabilities based on cost of attendance and other financial aid received.

For the Subsidized loan, the federal government pays the interest for you as long as you are enrolled at least half-time and through your six-month grace period.  The Unsubsidized Stafford loan is available if you do not demonstrate financial eligibility.  The amount of Subsidized Stafford loan you are eligible for is determined by the results of your FAFSA.  You are responsible for accrued interest on your Unsubsidized Stafford loan during enrollment periods and the grace period.  Your lender will send you interest statements while you are in school, providing you the opportunity to pay the interest.  If you do not make interest payments, your lender will capitalize the outstanding interest before you enter repayment.

Federal Subsidized Stafford Loan eligibility will be indicated on the financial aid award notification. On the scheduled date (refer to the information sheet included with your award notification), the funds are disbursed to the student's tuition account and, if applicable, a refund check is processed within two weeks. Allow four to six weeks for the initial phase of this process.

State of Iowa Financial Aid Programs

Iowa Tuition Grant (ITG)
The ITG is available to qualified Iowa residents who are enrolled in at least three credit hours at a private institution in Iowa. The ITG is based on need, and students must have a FAFSA at the federal processors by July 1, 2007 to be considered for this award. The maximum ITG is $4,000 for the 2007-2008 academic year. In the event that available state funds are insufficient to pay the full amount of each approved grant, the Iowa Student Aid Commission has the authority to administratively reduce the maximum award to an amount less than the statutory maximum.

State of Iowa Scholarships
The State of Iowa Scholarship program is a one-time recognition and monetary award to Iowa's top students who attend an Iowa college or university. These students are designated as Iowa Scholarship recipients by the Iowa College Student Aid Commission. Additional details may be obtained by contacting that office at 1-800-383-4222 or by contacting your high school guidance counselor. Awards range up to $400.

Iowa Grants
Iowa Grants of up to $1,000 a year will be funded by the State of Iowa and awarded by Briar Cliff University to high need Iowa residents. Funds are extremely limited, and are generally awarded to the highest need students. You may apply by completing the FAFSA.