Types of Financial Aid

Bunker Hill Community College participates in most federal and state grant, scholarship and loan programs that are available to students attending a post-secondary institution. The majority of these programs are limited to students who demonstrate financial need, as determined through the financial aid process.

 

Financial Aid Terms

FAFSA: Free Application for Federal Student Aid

  • The basic Financial Aid Application required for all students seeking aid. Can be done online or a paper copy may be picked up at our office

TITLE IV FUNDS

  • The name given to Financial Aid that is distributed by the Federal Government. Title IV Funds include:Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • Federal Subsidized Family Federal Education Loan (FFEL) also known as Federal Stafford Loan
  • Federal Un-Subsidized Family Federal Education Loan (FFEL) also known as Federal Stafford Loan
  • Federal PLUS Parent Loan

GRANTS:

  • Federal, State or Private funds given to a student to assist in payment of college expenses. Grants do not have to be repaid (See Title IV Refund Explanation)

LOANS

  • Federal, State or Private funds loaned to a student or student's parent to assist in payment of college expenses. Loans must be repaid.

SUBSIDIZED LOAN

  • The U.S. Department of Education pays the interest on this loan provided the student is enrolled as at least a half-time student (six credits). The Interest is paid up to 6 months after the student graduates or withdraws from the college at which time the student become responsible for the interest on the loan

UNSUBSIDIZED LOAN

  • For this type of loan the student is responsible for the interest (which accrues monthly) from the time the loan is disbursed to the school until the loan is repaid in full