Major Student Aid Programs
Education is the single most important investment an individual can make. To finance this investment, the U.S. Department of Education offers student aid in the form of grants, loans, and work-study programs. The mix of aid depends on an individual’s financial needs. APSCU supports policies to enable millions of Americans the chance to attend college. Maintaining vibrant loan and grant programs are essential to achieve this goal.
The Direct Loan program contains several types of federal loans. The department originates about $105 billion in student loans each year. In 2011, about 10.4 million students took out Stafford Loans, the largest proportion of Direct Loans. Nearly all students who attend PSCUs--typically older, nontraditional students--access the Direct Loan program. APSCU believes maintaining access to the Direct loan program is essential to a first-rate workforce. We advocate tirelessly for public policies that protect student access to these loans.
Some of the different types of loans:
The Pell Grant is a need-based form of financial aid designed to help America's lowest income students obtain a college education. According to the most recent statistics from the National Center for Educational Statistics, 36 percent of students attending PSCUs are at or below the poverty level, 28 percent are at twice the poverty level, and 16 percent are at three times the poverty level.
For many of these students, PSCUs are the only option to obtain postsecondary training, so continuous and unfettered access to Pell Grants is critical. APSCU supports efforts by Congress and the Department of Education to maintain and increase funding levels for Pell Grants.
Supplemental Educational Opportunity Grants