Federal Financial Aid Programs
Below is a list of federal loans for which eligible Berkeley College students may be considered:
Federal Pell Grant: The Federal Pell Grant program provides awards of up to $5,550 per academic year for financially eligible undergraduate students who previously have not earned a Bachelor’s degree. Recipients must be United States citizens or eligible noncitizens enrolled in degree programs. The Free Application for Federal Student Aid (FAFSA) must be completed when applying for financial assistance. The Federal Government limits students to six full scheduled annual awards. At Berkeley College, that would translate into 18 quarters of full-time attendance and, for example, 36 quarters at half-time attendance. Pell Grants used at other institutions count towards the maximum amount allowed.
Federal Direct Loans: Berkeley College participates in the William D. Ford Direct Loan Program. Eligible students and their parents borrow Stafford and/or PLUS Loans directly from the U.S. Department of Education and repay the loans through various loan servicers chosen by the U.S. Department of Education. Promissory Notes are available on the Internet at studentloans.gov. Various repayment and deferment options exist for federal loans (including but not limited to deferments for service under the Peace Corps Act; service under the Domestic Volunteer Service Act of 1973, and comparable service as a volunteer for a tax exempt organization in the field of community service). All students will be provided entrance counseling that describes these options prior to loan disbursement.
- Federal Direct Base Stafford Loan (this base loan is usually interest subsidized): This loan is available to students who are enrolled at least half-time and have financial need. A fixed interest rate of 4.5 percent applies, and in most cases repayment must be completed within 10 years. The U.S. Department of Education pays the interest while the borrower is in school. First-year students may borrow up to $3,500 for qualified educational expenses; second-year students may borrow up to $4,500. Third- and fourth-year students may borrow up to $5,500 annually. Loan amounts will be originated by the College based on enrollment status and need as determined by federal formulas. Students are responsible for repaying their entire debt, with interest, as specified in the terms and conditions of the Promissory Note.
- Federal Direct Unsubsidized Stafford Loan: This loan is available to students who are enrolled at least half-time. Financial need is not a requirement. The borrower is responsible for interest during the life of the loan. A fixed interest rate of 6.8 percent applies, and in most cases repayment must be completed within 10 years. All students are eligible for the base $2,000. In addition to the base loan of $2,000, independent students and those whose parents have been denied a Parent Loan may borrow an “additional” unsubsidized loan. First- and second-year students may borrow up to an additional $4,000 for qualified educational expenses. Third- and fourth-year students may borrow up to an additional $5,000 annually. Loan amounts will be originated by the College based on enrollment, need, and dependency status as determined by federal regulations. Students are responsible for repaying their entire debt, with interest, as specified in the terms and conditions of the Promissory Note.
- Federal PLUS Loan: This loan is available to parents of dependent students who are enrolled at least half-time. Financial need is not a requirement. Parents are responsible for interest during the life of the loan. A fixed rate of 7.9 percent applies. In most cases, repayment must be completed within 10 years. Parents may borrow up to the cost of attendance minus other financial assistance and resources. Loan amounts will be certified by the College based on enrollment and dependency status as determined by federal regulations. Parents are responsible for repaying their entire debt, with interest, as specified in the terms and conditions of the Promissory Note.
Federal Supplemental Educational Opportunity Grants (FSEOG): In addition to a Federal Pell Grant and/or Stafford loan, students with exceptional need (Zero Expected Family Contribution) may be awarded a Federal Supplemental Grant of $300 per award period. Eligible students are automatically considered for this grant. The Free Application for Federal Student Aid (FAFSA) must be completed annually.
Federal Work Study (FWS): Eligible students can seek part-time employment either on campus or in community service positions off campus. Award, hours, and pay rates vary. On average, students work 16 hours per week at $8.00 to $9.00 per hour. Interested students should be directed to BerkeleyCollege.edu/fws.
Return of Title IV: The U.S. Department of Education regulates the treatment of all federal grants and loans. For those students who withdraw during the quarter, the College is required to exercise the "Return to Title IV calculation" (R2T4). The R2T4 is based on the number of days in the quarter divided into the number of days attended based on the date of official withdrawal or on the census date (see Class Participation Policy). This provides the percentage of Title IV aid a student has "earned."
For example, if the quarter is 84 days, and a student’s separation date falls on the 40th day of the quarter, the formula used would be 40/84 or 47.619 percent. This percentage would then be applied to the Title IV aid disbursed, or potentially disbursed, in order to determine how much and which proceeds need to be returned. Students that separate after the 60 percent point of the quarter, per federal guidelines, will have earned 100 percent of their federal aid.
The order in which funds are returned is also determined by the Federal Department of Education. The Attribution Table requires funds to be returned as follows:
First - Direct Unsubsidized Loan
Second - Direct Subsidized Loan
Third - Direct Parent Loans
Fourth - Pell Grant
Fifth - SEOG
Note: Federal Work Study earnings are not part of the above formula and funds earned do not need to be returned.
Veterans’ Benefits: Veterans and/or dependents planning to receive educational assistance benefits from the Department of Veterans Affairs (VA) should get VA approval prior to enrollment. Veterans may apply for their GI Bill benefits at the VONAPP website, located at vabenefits.vba.va.gov/vonapp/main.asp. Veterans are required to submit copies of their Certificate of Eligibility for their VA benefits and DD214 Member 4 copy during the admissions process in order to most effectively process their benefits.
Study Abroad: Federal financial aid funds may be available for study abroad programs if a consortium agreement between the home and visiting school is approved in advance. Questions regarding consortium agreements should be directed to the Center for Global Studies.
Title VII - Indian, Native Hawaiian, and Alaska Native Education: For information, go to:
Social Security Benefits: Social Security benefits may be available to eligible students under 18 years of age. For more information, go to: