Types of Butler Financial Aid Butler Federal School Code 001906
There are three primary sources of financial aid available to students who attend Butler: Grants and Scholarships; Loans; and Employment. Students seeking financial assistance should apply online at the Free Application for Federal Student Aid (FAFSA) web site. The online application process is faster and does provide built-in edits for accuracy of information being submitted. Paper FAFSA forms are also available at your local High School counselor's office and all Butler locations. Financial Aid is not automatically continued from one year to another. You must re-apply ANNUALLY and should begin the process early. Processing your application can take eight weeks or longer.
Grants and Scholarships
These are direct gifts to students which do not have to be repaid, UNLESS you withdraw or have an overpayment. These gifts include federal grant programs, academic scholarships, athletic and activity scholarships.
Federal Pell Grant:
The amount of this grant varies according to the student's need as determined by the federal needs analysis, and is available to all students who qualify.
Federal Supplemental Educational Opportunity Grant:
This grant is provided through an allocation of federal money to Butler. It is a campus- based program and awards are limited. Certain priority dates and restrictions apply.
Academic Competitiveness Grant (ACG):
This is an additional one-time grant available for U.S. citizens who are Pell eligible, graduated from high school after January 2005, and completed a rigorous high school program. The first year ACG award is $750. To maintain eligibility for the second year ACG award of $1,300, a student must complete 24 credit hours with a cumulative 3.0 GPA at the end of two semesters as a full-time student.
Federal loans are available for long-term low-interest financing.
Federal Stafford Loan: These loans are obtained through a bank or lending institution after a student is determined to be eligible. Students who are not eligible for interest benefits may receive an Unsubsidized Stafford Loan. The loans are repaid beginning six months after recipient graduates or drops to less than half-time enrollment.
Federal Plus Loans: The Parent Loan for Undergraduate Students is available for parents of dependent students. The 8.50% interest rate is fixed and subject to change. Repayment begins within 60 days after the receipt of funds.
If you want to accept an offered Stafford loan listed on your award letter, you may do so via your Pipeline account. Once accepted, first-time borrowers at Butler are required to complete online loan entrance counseling and/or a MPN. You must be enrolled in at least 6 college credits at Butler and be making financial aid satisfactory academic progress in order for your loan to be officially certified.
Many opportunities are available at Butler to obtain a job to help defray the cost of education. Students employed through the Federal Work-Study (FWS) program benefit from an 'Income Exclusion' on the following year FAFSA application for Federal Student Aid. To work in the FWS program, the student must be eligible for FWS.
Federal Work-Study: This program is financed by the College and the federal government for students who demonstrate financial need. Students usually work 15-20 hours per week.
America Reads/America Counts: Students tutor children in reading or math either in a public school system or at the EduCare Center located on the El Dorado campus.
