Federal Financial Aid
IGU is approved by the US Department of Education to participate the following Federal Student Financial Aid program.
If you apply for financial aid, you may be offered loans as part of your financial aid award. A loan is money you borrow and must pay back with interest.
The William D. Ford Federal Direct Loan (Direct Loan) Program is the largest federal student loan program. Under this program, the U.S. Department of Education is your lender. There are four types of Direct Loans available:
Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.
Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but in this case, the student does not have to demonstrate financial need to be eligible for the loan.
Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid.
Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.
The Federal Pell Grant is usually awarded only to undergraduate students. A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances. For 2019-2020 (July 1, 2019, to June 30, 2020), the award amount is up to $6195. The amount you get, though, will depend on
your financial need,
your cost of attendance,
your status as a full-time or part-time student
Estimated Family Contribution (EFC)
You may not receive Federal Pell Grant funds from more than one school at a time.
Federal Supplemental Educational Opportunity Grant (FSEOG) is a grant for undergraduate students with exceptional financial need. The FSEOG does not need to be repaid, except under certain circumstances. The FSEOG program is administered directly by the financial aid office at each participating school and is therefore called “campus-based” aid. Not all schools participate. Check with your school's financial aid office to find out if the school offers the FSEOG.
The U.S. Department of Education offers federal financial aid to eligible student to help cover the cost of their education at participating schools. Federal student aid includes grants, loans, and federal work study.