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Grants and Loans

Accessing Aid

All students seeking aid should first complete the FAFSA to determine their eligibility for all applicable grants and loans. The Financial Aid Office can process your FAFSA electronically at the time of your financial aid appointment.

Questions?

Financial Aid Department

937-294-0592
financial.aid@themodern.edu
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Pell Grant

Federal Pell Grants usually are awarded only to students who display exceptional financial need and have not earned a bachelor's, graduate, or professional degree. A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances.

Loans

The U.S. Department of Education's federal student loan program is the William D. Ford Federal Direct Loan (Direct Loan) Program. Under this program, the U.S. Department of Education is your lender. There are three types of Direct Loans available:

Direct Subsidized Loans

are loans made to eligible students who demonstrate financial need to help cover higher education costs. www.studentaid.ed .gov.

Direct Unsubsidized Loans

are loans made to eligible students, but eligibility is not based on financial need. www.studentaid.ed .gov.

Direct PLUS Loans

are loans made to parents of dependent students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify. www.studentaid.ed .gov.

Have Questions?

You can learn a lot about options by referring to www.studentaid.ed.gov, which is an excellent website that lists questions and answers about Federal loans and grants.
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