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Federal Aid

Federal Grants

Pell Grant

Awarded to students from low-and middle-income families who show financial need and are degree seeking. Student must submit a Free Application for Federal Student Aid (FAFSA). Amounts are determined by the U.S. Department of Education and for 2014-2015 ranged from $602-$5,730 per year.

Supplemental Educational Opportunity Grant

Awarded to students receiving Pell Grants and demonstrating high financial need. Amounts are determined by the U.S. Department of Education and for 2014-2015 were $600 per year.

TEACH Grant

Awarded to students interested in a full-time teaching career and committed to teaching for at least four years in a high-need subject area at a school that serves low-income families. Students may receive up to $3,760 per year for full-time undergraduate study. If students do not fulfill stated teaching requirements, the grant will be converted to a loan with interest. If you are interested in the TEACH Grant, please contact the financial aid office.

Federal Loan Programs

Federal Perkins Loans

Description: Need-based loan with a low fixed interest rate (5%); interest does not accrue on this loan until the repayment period begins

Maximum Amount: $2,000 (depending on need)

Repayment: Begins 9 months after a student graduates, withdraws, or is enrolled on a less than ½ time level

This loan is awarded to eligible students with financial need. There is no application for this loan - it is awarded using the information submitted on the FAFSA. For more information on this loan, please see the following link:  Federal Perkins Loan.

Federal Subsidized Direct Loans

Description: Low interest rate loans made by the federal government. The Subsidized Direct loan is a need-based loan that does not accrue any interest until a student graduates, withdraws, or is enrolled on a less than ½ time level.

Amounts Determined By: Need, Cost of Clarke education, and other financial aid received

Repayment: Begins 6 months after a student graduates, withdraws, or is enrolled on a less than ½ time level

Federal Unsubsidized Direct Loans

Description: Low interest rate loans made by the federal government. The Unsubsidized Stafford loan is a non need-based loan that does accrue interest starting at the time of disbursement.

Amounts Determined By: Cost of Clarke education and other financial aid received

Repayment: Begins 6 months after student graduates, withdraws, or is enrolled on a less than ½ time level

For more information on the Federal Direct Loans, please see the Federal Direct Loan Information page.

Federal Work Programs

Federal Work Study

The Federal Work Study program consists of funds made available to Clarke University undergraduate students who have need. These funds make them eligible to work at Clarke University. The amount of work study for which a student is eligible depends on need, the amount of work study funds Clarke has available and the other financial aid received. The amount of hours worked depends on the total FWS award, class schedule, health and academic progress. All jobs, except for community service, are on campus. Average hours are 6 to 10 and average earnings are $2,000. For more information about student employment at Clarke University, please see the student employment page.

Federal Public Service Loan Forgiveness

The Public Service Loan Forgiveness program may allow borrowers forgiveness on the remaining balance of their Direct Loans after they have made 120 qualifying payments on those loans while employed full time by certain public service employers. Click here for additional information. 

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