Federal Pell Grant Program
This grant is available to undergraduate students who have not received their bachelor's degree. Awards are based on the student's EFC, enrollment status, and Pell funding levels as appropriated by Congress.
Federal Supplemental Educational Opportunity Grant Program (SEOG)
This "campus based" grant is available to undergraduate students who have not received their bachelor's degree. First priority is given to students who are Pell eligible. Once all the Pell recipients have been considered, a second tier of applicants are selected whose EFC's are less than $4300. Awards are subject to availability of funds and given on a first-come, first-served basis. Award levels may be increased or decreased during the award year based upon the level of unexpended funds. The Education Finance Specialist may take special circumstances into consideration on an individual basis.
William D. Ford Federal Direct Loan
This loan program provides low interest loans to matriculated students through the U.S. Department of Education. Direct Loans are either subsidized or unsubsidized. A subsidized loan is awarded on the basis of financial need. If you qualify for a subsidized loan, the federal government pays interest on the loan until you begin repayment. An unsubsidized loan is not awarded on the basis of need. If you qualify for an unsubsidized loan, you will be charged interest from the time the loan is disbursed until it is paid in full. For students whose loans were first disbursed between July 1, 2009 and July 1, 2010, the interest rate will be 5.6%. Students who are borrowing for the first time have a fixed 4.5% interest rate only on subsidized loans. Unsubsidized student loan interest rate is 6.89%. There is a fee of 1.5% (with a 1.5% rebate) that will be deducted proportionately from each disbursement of your loan. Repayment of your student loan begins six months after you cease to be at least a half-time student. Loan limits for dependent undergraduate students is $5500 if you are a first year student and $6500 if you are a second year student. Loan limits for independent undergraduate students is $9500 if you are a first year student and $10500 if you are a second year student. These amounts are the maximum yearly amounts you can borrow in both subsidized and unsubsidized Direct Loans.
To apply for a Federal Direct Student Loan, all applicants must first file a Free Application for Federal Student Aid (FAFSA). Students who indicate on the FAFSA that they are interested in student loans will automatically be offered a student loan when their financial aid awards are packaged. Instructions for applying for a Direct Loan will be sent with your financial aid award. Parents of dependent students can borrow a William D. Ford Federal Direct Parent Loan for Undergraduate Students (PLUS) to help pay for their child's education. The yearly loan limit is the cost of education minus any financial aid a student receives. If a parent is denied a Direct Plus Loan, the dependent student would be eligible to receive an additional Unsubsidized Direct Student Loan. Interest rate for new and existing PLUS loans disbursed on or after July 1, 2006 is 7.90%
Bridgeport Hospital School of Nursing is committed to the education of all its students. To this end, institutional scholarships and awards are granted to assist with tuition and fees according to the criteria of each award and/or on the basis of financial need as determined by the Financial Aid Office.
Veteran's Educational Benefits
The Federal Government officers a wide variety of services through the Veterans' Administration. Bridgeport Hospital School of Nursing is approved for the training of veterans under appropriate chapters of Title 38, the United States Code.
Tax Credit Programs
The Hope Scholarship provides up to $3000 towards your BHSN education. Eligible students can receive up to a $1500 tax credit for each of the first two years of school.
The Lifetime Learning Program is a tax credit of 20% of qualified tuition and fee expenses up to $1000 per year. For more information on these programs, consult your tax advisor or the IRS.
For more information about The Hope Scholarship and The Lifetime Learning Program tax credits please visit the Internal Revenue Service Website.