Navigating the world of Financial Aid can be confusing. The following terms are offered to assist you in effectively understanding the various programs involved:

FAFSA - Free Application for Federal Student Aid. Information reported on this federal application is used to determine the amount of money a family is expected to contribute toward education expenses.

EFC - As determined by filing the FAFSA. It is the amount of money a family is expected to contribute towards the educational expenses.

PIN - Personal Identification Number. This serves as a personal identifier to access your information at various Department of Education systems. It can also serve as an electronic signature. Obtain a PIN and information at www.pin.ed.gov

Merit Scholarship - These are academic awards that are awarded by both the college and outside sources. All students upon entering DelVal are considered for merit awards. Academic achievement, extracurricular activities and strong citizenship are factors in the selection process.

Gift Assistance - This funding is not repaid. Scholarships or grants are the most prevalent types of Gift Assistance, but tuition waivers, sponsorships or tuition reimbursements from employers also qualify.

Grants - These are a type of gift assistance that may or may not require a minimum GPA, ACT or SAT score or financial-need level.

Federal Pell Grant - This Federal Grant is awarded to undergraduate students with a EFC less than $3850 as determined by filing the FAFSA, which determines both eligibility and the amount of the award (Amounts range from $400 to $4050).

Federal Supplemental Education Opportunity Grants - SEOG - Federal grants awarded for undergraduates with exceptional financial need (Amounts range from $100 to $4000). Priority is given to Pell Grant recipients.

Federal College Work Study/Campus Employment - Employment opportunities occur both on and off campus. Jobs will offer both financial resources and the opportunity to apply towards education experience.

Federal Perkins Loan - This is a federal low-interest loan (5% during repayment) with the school as the lender. The loan is interest free while your are enrolled in school. The loan maximum is $4000.

Federal Stafford Loan - These are student self-help loans; the amount borrowed depends on enrollment status.

National SMART Grant - National Science and Mathematics Access to Retain Talent program - Federal Grant awarded to a third of fourth year Pell eligible U.S. citizens enrolled in an approved undergraduate academic program as defined by the Higher Education Reconciliation Act of 2005 (HERA). Student must also have a cumulative grade point average of 3.0 or above.

Academic Competitiveness Grant - ACG - Federal Grant awarded to full time, first- or second-year Pell-eligible U.S. Citizens. Students must meet specific academic requirements as defined by the Higher Education Reconciliation Act of 2005 (HERA).

Subsidized - Awarded on the basis of need. These loans are interest free during enrollment to an authorized period (Amounts range from $3500 as a Freshman, $4500 as a Sophomore, and $5,500 as a Junior/Senior). If you're an independent undergraduate student or a dependent student whose parents are unable to get a PLUS Loan, you can borrow up to:

• $7,500 if you're a first-year student enrolled in a program of study that is at least a full academic year (only $2,625 of this amount may be in subsidized loans).
• $8,500 if you've completed your first year of study and the remainder of your program is at least a full academic year (only $3,500 of this amount may be in subsidized loans).
• $10,500 a year if you've completed two years of study and the remainder of your program is at least a full academic year (only $5,500 of this amount may be in subsidized loans).
• Visit www.aessuccess.org

Federal Plus Loan - (Amount - From $100 up to the total cost of education) PLUS Loans are made by banks to parents of college students. The loan is available to replace all or part of the expected family contribution and is limited only by the cost of attendance less other financial aid. New borrowers pay a variable interest rate capped at nine percent. A credit check is required, and repayment begins within 60 days after the loan has been fully disbursed. Interest-only payments may be made while student is in school, and the loan has a maximum repayment period of 10 years.

PA State Grant - This is a need-based for PA residents. Award amounts vary.

State Grants - These are other grants awarded by individual states. They have varied amounts and may be portable for out-of-state students for attendance in Pennsylvania colleges and universities (New Jersey and New York are not).

Alternative Loans - These are loans provided by private lenders for educational purposes.

Payment Plan Information - A monthly payment plan is also available. To learn more, contact Tuition Pay at 1-800-635-0120 or the College Bursar at 215-489-2376. Visit www.tuitionpay.com

For more information, or if you have a specific question, please call 1-800-2-DELVAL or 215-489-2272 or email .