Scholarships and Financial Aid

Education Services Foundation
 www.get2college.org or call 1-800-986-4322

Institutions of Higher Learning
1-800-327-2980 www.ihl.state.ms.us

MTAG/MESG applications and other state financial aid opportunities can be found at this website.

Free Application for Federal Student Aid
1-800-433-3243 www.fafsa.ed.gov

The FAFSA form must be completed to determine financial need. To complete the FAFSA, parents will need a copy of their income tax form. The FAFSA can be completed on line.

What are the different types of educational loans?

Direct/FFEL Stafford Loan The current repayment rate is 4.06% and 3.46% during in-school and deferment periods. Subsidized Loans Interest begins after school Awarded based on need Unsubsidized Interest begins during school REPAY-starts 6 months after leaving school or dropping below half-time enrollment status

Federal PLUS Loan For parents with low interest capped at 9%, currently 4.86% REPAY-begins within 60 days after last disbursement of loan

Federal Perkins Loan Combined funds from government and school for extreme need Interest rate is 5% REPAY-begins 9 months after leaving school or dropping below half-time enrollment status

Consolidation Loan Combine Federal loans to one vender Interest rate is the weighted average of the federal loans rounded up to the nearest 1/8 of a percent. Interest rate capped at 8.25% Lower monthly payments

Private/Alternative Loan For independent students and parents of dependent students REPAY-starts 6 months after leaving school or dropping below half-time enrollment status.