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Federal Work-Study Program (FWS):
The Federal Work-Study Program provides
part-time jobs for undergraduate and graduate students with financial need, allowing them
to earn money to help pay for education expenses. The program encourages community
service work and work related to the student’s course of study.
William D. Ford Federal Direct Loans:
Loans made by the federal government,
called federal student loans, usually offer borrowers lower interest rates and have more
flexible repayment options than loans from banks or other private sources. Bluefield Col-
lege encourages our students and parents to borrow conservatively and responsibly. Stu-
dents and parents can begin repayment at any time to reduce total debt without penalty.
William D. Ford Federal PLUS Loans (for parents):
The PLUS (Parent Loan for
Undergraduate Students) loan is available to parents of dependent students with a good
credit history and is used to supplement other financial aid sources. The student must com-
plete the FAFSA, and a separate PLUS loan request form is required.
Subsidized and Unsubsidized Direct Loans
The Subsidized Direct Loan
requires financial need, which is determined by using a
federal formula. Limited to undergraduate students only, these loans are “subsidized” in
that the government pays the interest for you during the following periods:
• while you are enrolled in school at least half-time or 6 credits,
• for the first six months after you leave school “grace period,” and
• during a period of approved deferment.
The Unsubsidized Direct Loan
is not based on financial need and is available to all
federally-eligible students regardless of income and assets. Because these loans are not
subsidized by the government, you are responsible for all interest which accrues during
in-school, grace, and deferment periods. You may choose to make payments to cover the
accruing interest while in school, or you may simply allow the interest to accrue and be
included in the amount you owe when you begin repayment.
Federal Direct Stafford Loan Annual Limits
Dependent Students
Independent Students
Grade Level
(Subsidized and
or Dependents with
Unsubsidized)
PLUS Denial
Freshman (0-27 Earned Credits)
$3,500 + $2,000
$3,500 + $6,000
Sophomore (28-57 Earned Credits)
$4,500 + $2,000
$4,500 + $6,000
Junior (58 -91 Earned Credits)
$5,500 + $2,000
$5,500 + $7,000
Senior (92+ Earned Credits)
$5,500 + $2,000
$5,500 + $7,000
Graduate Level $20,500
Federal Direct PLUS Loans
The Federal Direct PLUS Loan is available to parents of dependent students (by
FAFSA dependency rules, not IRS dependency rules) to help them pay for their child
who is enrolled in school at least half time and is making satisfactory academic progress.
Direct PLUS Loans are not based on financial need, and parents of all income levels may
apply. Parents may borrow an amount equal to the cost of attendance minus any other aid.
Repayment begins within 60 days after the second disbursement with a minimum monthly
payment of $50 and a maximum repayment term of 10 years. Payment deferment may be
available upon approval from The Department of Education.