Federal Resources

• The Federal Pell Grant program provides eligible students with a foundation of financial aid to help defray the cost of post-secondary education. The amount of the grant varies depending upon the need of the student, the cost of education, and the availability of funds. Any person who is a U.S. citizen or permanent resident, enrolled as an undergraduate student, and working toward the first baccalaureate degree is eligible to apply for a Federal Pell Grant.  Funds can be exhausted during the Fall and Spring semesters, but additional (year-round) Pell Grant funds are available if students enroll in 6 or more credits during the Summer semester.
• The Federal Supplemental Educational Opportunity Grant (FSEOG) program was established to make post-secondary educational opportunities available to qualified students who would be unable to obtain such benefits without financial assistance. Priority is to Federal Pell Grant recipients with exceptional need who have completed files in financial aid.

Types of loans available through East Central College are:

• Federal Direct Student Loans (Subsidized)
  Subsidized Direct Loans are based upon financial need. Interest is not charged while the student is enrolled at least half-time, i.e. six credit hours in the fall or spring and three credit hours in the summer. Students are required to enroll at least half-time and make satisfactory academic progress toward a certificate or degree program. The 23-24 academic year interest rate is fixed at 5.5% and repayment of the loan begins six months after the student ceases to pursue at least six credit hours at an institution of higher education.
• Federal Direct Student Loans (Unsubsidized)
  These loans are not based upon financial need and the student borrower is responsible for interest accrued while in school and during deferment periods for this type of loan. The current (2023-2024) interest rate is fixed at 5.5% and repayment of the principal loan amount begins six months after the student ceases to pursue at least six credit hours at an institution of higher education.

Loan Eligibility Checklist:

1. Enrolled at least half-time (6 or more credit hours) at the time of loan disbursement.
2. Enrolled in an eligible degree program at East Central College.
3. Not currently in default on a prior student loan.
4. Completed the FAFSA and submitted verification documents (if required).
5. Maintain Satisfactory Academic Progress.

Loan Application Process:

1. Complete Direct Master Promissory Note. studentaig.gov
2. Complete Entrance Counseling  studentaig.gov
3. Complete Data Loan Sheet and turn into the financial aid department.

Loan Approval Process:

1. Loan application is reviewed by the financial aid office.
2. Loan is approved (certified) by the financial aid office if student meets criteria listed above in the Loan Eligibility Checklist.
3. Certified loan application is sent to the Federal Government for approval.
4. Approved loan funds are disbursed in two equal disbursements during each semester.
5. When the student’s “final period of study is shorter than an academic year” – their student loan eligibility will be prorated – please see chart for details.

Note: Students borrowing to assist with living expenses should have other resources available to assist them during the first month of the semester. Loan funds are generally not available to students until the 5th week and the mid-point of the semester.

Lack of attendance and/or reporting of deficient grades within the semester can cause reduction or cancellation of your financial aid.

Effective July 1, 2015, East Central College no longer processes Federal PLUS Loans (Parent Loans for Undergraduate Students). For alternative funding options, please contact Heather Kleekamp at 636-584-6574 or heather.kleekamp@eastcentral.edu.

To participate in the Work Study Program you must be currently enrolled in at least six credit hours, must submit the FAFSA form and qualify for financial need. For summer, students must be enroll in at least six credit hours for both the summer and fall and have a complete financial aid file for the fall semester.

Financial Aid will determine eligibility and inform the student if they qualify for the work-study program. The number of hours of work a week will be based on the budget and the student’s financial qualifications for a maximum of 19 ¾ hours per week. For more information regarding FAFSA, student worker requirements, and enrollment guidelines, please visit the Financial Aid Office or call 636-584-6574. Minimum hourly pay $12.00–$12.50; flexible hours not to exceed 19.75 hours per week.

For more information and to apply, click here.