{"id":13193,"date":"2021-04-16T15:58:24","date_gmt":"2021-04-16T15:58:24","guid":{"rendered":"https:\/\/www.neit.edu\/?page_id=13193"},"modified":"2022-05-31T18:47:52","modified_gmt":"2022-05-31T18:47:52","slug":"award-descriptions-terms-conditions","status":"publish","type":"page","link":"https:\/\/www.neit.edu\/financial-aid\/award-terms-and-conditions","title":{"rendered":"Award Descriptions, Terms & Conditions"},"content":{"rendered":"
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Financial Aid Award Descriptions <\/h2>

Federal Direct Subsidized Stafford Loans \u2013 <\/strong>There are limits to the annual maximum loan that a student can borrow, based on dependency status, grade level and demonstrated financial need.\u00a0 <\/strong>For loans disbursed to undergraduates on or after July 1, 2022, the interest rate is 4.99%, and there is a 1.057% fee charged up front, which is deducted prior to disbursement to the school. \u00a0The U.S. Department of Education will pay (subsidize) the interest that accrues on Subsidized Stafford Loans during certain periods.\u00a0 Graduate students are not eligible for Federal Direct Subsidized Stafford Loans, but can get Federal Direct Unsubsidized Stafford Loans.<\/p>\n\n\n\n\n\n\n
Grade Level\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/td>\nMaximum Annual Amount<\/strong><\/td>\nTotal Annual Amount Disbursed to School<\/strong><\/td>\n<\/tr>\n
Freshman<\/td>\n$3,500<\/td>\n$3,462<\/td>\n<\/tr>\n
Sophomore<\/td>\n$4,500<\/td>\n$4,452<\/td>\n<\/tr>\n
Junior or Senior<\/td>\n$5,500<\/td>\n$5,441<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Federal Direct Unsubsidized Stafford Loans \u2013 <\/strong>There are limits to the annual maximum loan that a student can borrow, based on dependency status, grade level and demonstrated financial need.\u00a0 \u00a0Interest remains the responsibility of the borrower on an Unsubsidized Stafford Loan, and begins accruing after disbursement. For loans disbursed to undergraduates on or after July 1, 2022, the interest rate is 4.99%, and there is a 1.057% fee charged up front, which is deducted prior to disbursement to the school. \u00a0<\/strong>For loans disbursed to graduate students on or after July 1, 2022, the interest rate is 6.54%, and there is a 1.057% fee charged up front, which is deducted prior to disbursement to the school.\u00a0 <\/strong><\/p>\n\n\n\n\n\n\n\n
Grade Level\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/td>\nMaximum Annual Amount<\/strong><\/td>\nTotal Annual Amount Disbursed to School<\/strong><\/td>\n<\/tr>\n
Freshman<\/td>\n$2,000-$6,000<\/td>\n$1,979-$5,936<\/td>\n<\/tr>\n
Sophomore<\/td>\n$2,000-$6,000<\/td>\n$1,979-$5,936<\/td>\n<\/tr>\n
Junior or Senior<\/td>\n$2,000-$7,000<\/td>\n$1,979-$6,925<\/td>\n<\/tr>\n
Graduate<\/td>\n$20,500<\/td>\n$20,281<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Repayment begins 6 months after graduation or withdrawal from college.\u00a0 See more details about rights and responsibilities for federal student loan borrowers at https:\/\/studentaid.gov\/\u00a0<\/a><\/p>\n

Federal Pell Grants \u2013 <\/strong>Eligibility for this need-based grant is determined by federal guidelines. A minimum credit load of 12 credits per quarter is required to receive the full award of a Federal Pell Grant.<\/p>\n

Federal SEOG Grants<\/strong> \u2013Eligibility for this need-based grant is determined by federal guidelines. SEOG Grant recipients must be eligible for the Federal Pell Grant.<\/p>\n

University Grants, Tech Awards\u2013<\/strong>These awards are provided by 麻豆色情片 to students who demonstrate financial need. Eligibility for any need-based grant is determined by institutional guidelines. \u00a0Award eligibility is based on specific programs of study.<\/p>\n

Presidential Scholarships<\/strong> – These awards are provided by 麻豆色情片 to students who demonstrate academic merit. Awarding criteria and continued eligibility is determined by institutional guidelines.<\/p>\n

Descriptions of other loan options and financial aid awards can be found at https:\/\/www.neit.edu\/admissions-aid\/financial-aid-scholarships\/types-of-financial-aid and at https:\/\/www.neit.edu\/admissions-aid\/financing-options<\/p>\n<\/div>\n <\/div>\n <\/div>\n <\/div> \n\n<\/div>\n\n

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Terms & Conditions for Financial Aid Awards<\/h2>\n <\/div>\n
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