Types of Financial Aid

The following programs are available at Rhodes State College:

Pell Grant

The Federal Pell Grant is offered based on full-time (12 or more credit hours), part-time (9- 11 credit hours), half-time (6-8 credit hours), or less than half-time (1-5 credit hours). The maximum award is $6,095. To calculate your Pell award amount please review the calculation below:

1-5 semester hours= 25% of full-time semester award
6-8 semester hours= 50% of full-time semester award
9-11 semester hours= 75% of full-time semester award
12 or more semester hours= 100% of full-time semester award

*Reminder a student can only receive 2 full-time semesters of Pell per financial aid year, until they reach their lifetime limit. If you receive Pell in the summer, you may not have adequate funds for spring.

Lifetime Pell Limit

In December 2011, President Obama signed into law the Consolidated Appropriations Act, 2012 (Public Law 112-74). This law has significantly impacted the Pell Grant Program. Beginning in 2013-2014 aid year, students are now limited to 12 semesters (or 600%) of Pell Grant eligibility during their lifetime. This change affects all students regardless of when or where students received their first Pell Grant. Students that have already used 600% of their Pell Grant eligibility will no longer be eligible to receive a Pell grant.

The percentages are based off the annual award at full-time enrollment status. For example if a student who has an annual award of $6,095 for example:

  • 12 or more credits for two semesters the percentage for the 2018-2019 academic year is 100%.
  • 9-11 credit hours for two semesters the percentage for the 2018-2019 academic year is 75%.
  • 6-8 credit hours for two semesters the percentage for the 2018-2019 academic year is 50%.
  • .5-5 credit hours for two semesters the percentage for the 2018-2019 academic year is 25%.

Whether you have used all of your Pell Grant eligibility or only a portion for the year, please be conscious of the lifetime limit of the Pell Grant when changing majors if you plan to transfer to a four-year school.

You may review your lifetime Pell Grant percentage used by logging into www.nslds.ed.gov/. This will include all Pell Grants received over your lifetime from any College. As long as you have not reached the 600% Lifetime Eligibility, you will still have eligibility remaining.


The Federal Supplemental Educational Opportunity Grant is awarded to those students who have the lowest EFCs, are enrolled full-time, and have a GPA greater than 1.99. The maximum yearly award is $1,500 and funds are limited. Not all students who meet the qualifications will be awarded SEOG, due to budget allocations. Priority is given to those students who file the FAFSA by May 1.

Federal Work Study

The Federal Work Study Program (FWSP) award determination is based on the date the FAFSA was submitted and an unmet need greater than $1000. Funding is limited. A student who is not eligible for the Federal Work Study grant may be eligible to work at the college and be paid wages. All student employees must follow all the rules in the Student Employment Program Handbook and the Standards of Satisfactory Academic Progress (SAP). All work-study positions are posted at www.collegecentral.com/. No awards can be disbursed until all appropriate paperwork is submitted to Human Resources.

Federal Stafford Loans

Both the subsidized and unsubsidized loan must be repaid. The maximum loan for dependent students is $5,500 for up to 30 earned hours and $6,500 for 31 hours to program completion. For independent students and dependent students whose parent was denied a PLUS loan, an additional $4,000 may be secured each year. Failure to maintain at least six credit hours each term will result in the cancellation of the loan.

Federal Direct PLUS Loans

The PLUS loan is a loan borrowed by a parent for a dependent undergraduate student. The maximum award amount is the student’s Cost of Attendance less other financial aid that the student receives. A student must be registered for at least six credit hours to remain eligible. Failure to maintain at least six credit hours each term will result in the cancellation of the PLUS loan.

Estimated Financial Assistance (EFA) is all financial aid from other sources that the student is expected to receive. Need based aid includes: subsidized loans, Pell grant, Federal Work Study and certain scholarships. All federal, state, and institutional aid cannot exceed the student’s Cost of Attendance (COA). COA less Expected Family Contribution (EFC) less EFA = total subsidized loan. COA-EFA, including subsidized loans = total unsubsidized loan. (Federal Student Aid Handbook, 2018-2019.)