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Show Financial aid availcible By MONICA BEHLING JOURNAL STAFF WRITER All students who are planning to apply for financial aid for fall semester should apply as soon as possible to assure that they receive the funds for the 1998-99 academic year. The time line for applications began in January and will continue through nex't July for fall semester. Students may receive aid for fall semester as late as July, but ~applying for financial aid after the fact is not a good way to do it. The best way, is to get the application in early for the current semester," Financial Aid Director Rex Michie said. The financial aid office is located in the Sharwan Smith Center and is open from 8 a.m. to 4 p .m. There are basically three types of financial aid available to students: grants, loans, and work study. "Eligibility for financial aid is based on need," said Michie. "Need is determined by the income and assets of the student and the income and assets of the student's parents." [fa students expected family contributio n, or EFC, is below a certain amount they are then eligible for a federal PELL Grant. There is not, however a maximum EFC that defines eJjgibility for all other financial aid programs. Eligibility for a PELL Grant is determined by a formula established by the government that includes the factors mentioned above and the number of people in the student's family. The amount of money available m a PELL Grant runs upward to $3,000, depending on need. Last year the government dispersed $3.7 million in · PELL Grants. The other type of grant, the Supplement Education Opportunity Grant (SEOG), is awarded to the srudents with the greatest need. With only $270,000 awarded last year, however, the SEOG Grant is significantly smaller than the PELL While grants do not have to be paid back, all loan types do. The loan family consists of the Stafford Loan, PLUS Loans, unsubsidized and Perkins Loans. The Stafford Loan is subsidized by the government, meaning the federal government pays all interest on the loan while the student is enrolled in school. The Perkins and ocher unsubsidized loans accm e interest on the principle. The PLUS Loan , or the Parent Loan for Undergraduate Students, enables parents to borrow money on behalf of their children. There is no grace period for this loan and repayment muse begir) within 60 days after the final loan disbursement for the academic year. The third form of financial aid, the Work Study Program, is similar to regular on-campus employmcnc except the state and federal government pay the students wages. Any student that has a question may in(1uire at the Financial Aid Office or call 1-888-4-FED-AlD FREE SOUTH·ERN UTAH UNIVER.S ITY T-SHIRTS·!* R.aicl Your Closet then... · Come Raicl Ours! Traveling TOGS · "It's. Too Good to be Threw" CASH FOR CLOTHES OPEN Monday- Saturday 10 a.m. - 10 p.m. We BUY Monday - Friday 3 p.m. - 8 p.m. Next to Lins Market on Main S.t reet "Where you can always find your style" Member: National Association of Thrift Stores REUSE AND SAVE FIRST! BUYING, SELLING, AND TRADING AT TRAVELING TOGS. Open a checking acc·o unt at any of the foil owing locations, and the shirt is yours. First Security - Cedar City - 57 North Main, Cedar City, Utah 84720 Frrst Security - South Cedar- 797 South Main, Cedar City, Utah 84720 First Security- Parowan - 78 East Center, Parowan, Utah 84761 FIRST SECURITY BANK member FDIC 3 offices and 7 ATMs in the immediate vicinity (including one on campus) ... We have you covered! ''CURRENTLY GIVING 110%'' *While supplies last. l----- --~ .......... -..... - -..... .....-···""* - --'*.,. .. ·- · . . .,.-.............. ... ..... . ... .......... --· ---·------ |