• Aid Programs at a Glance
• Federal Pell Grant
• Charter Oak State College Grant
• Connecticut Aid to Public Schools
• Charter Oak State College Fee Award
• Charter Oak State College Foundation Grant
• Charter Oak State College Scholarships
• Federal Direct Student Loans
• Outside Scholarships

Aid Programs at a Glance

Programs	Eligibility	Program Characteristics
Federal Pell Grant	Need Based	Maximum award $5,350
Charter Oak State College Grant	Need Based	Awards vary
Connecticut Aid to Public Schools	Connecticut Resident & Need Based	Awards vary
Charter Oak State College Fee Award	Degree seeking & Need Based	Awards vary
Charter Oak State College Foundation Grant	Need Based; Minimum G.P.A 2.50; Matriculated student who has completed at least one semester at Charter Oak	Awards vary
Subsidized Stafford Loan	Need Based	Maximum Subsidized Loan Amounts for Dependant and Independant Students: $3,500 (freshmen); $4,500 (sophomore); $5,500 (junior/senior)
Unsubsidized Stafford	Non-need based * Additional loan funds are available to dependent students if the student’s parent is denied a PLUS Loan.	Maximum Loan Amounts Dependant Undergraduate Freshman: $5,500 (maximum $3,500 subsidized) Sophomore: $6,500 (maximum $4,500 subsidized) Junior/Senior: $7,500 (maximum $5,500 subsidized) Independent Undergraduate Freshman: $9,500 (maximum $3,500 subsidized) Sophomore: $10,500 (maximum $4,500 subsidized) Junior/Senior: $12,500 (maximum $5,500 subsidized)
PLUS Loans	Available to parents of dependent undergraduate students enrolled at least half-time.	Student’s Cost of Attendance   -   Other Aid Student Received = Maximum PLUS Loan Amount

Disclaimer:
Descriptions of financial aid programs are subject to change without advance notice due to changes in federal, state, college policies, and/or changes in funding levels. The Financial Aid Office will make every reasonable effort to keep applicants and students aware of changes as they occur.

Grants

Federal Pell Grant
Federal Pell Grants are awarded to needy undergraduate students who have not earned a first bachelor's degree. For the 2009-2010 academic year, full year awards range from $486 to $5,350. The amount of your Federal Pell Grant eligibility will depend on your cost of attendance, expected family contribution (EFC), enrollment status, and whether you will attend for a full academic year or less.  You may not receive Pell Grant funds from more then one school at a time. To apply, a student must file a Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA.

Charter Oak State College Grant
Funds are given to degree seeking students with financial need who are either residents or non-residents of Connecticut. Grant awards vary per year depending on a student's need and the availability of funds. To apply, a student must file a Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA.

Charter Oak State College Student Grant Aid Program
CAPS awards can be given to full or part-time students with financial need, who are enrolled at the college and who are residents of Connecticut. The COSC Student Grant Program is funded by the State of Connecticut through the Connecticut Department of Higher Education.  The award amounts cannot exceed a student’s financial need. Awards vary per year as determined by the college. To apply, a student must file a Free Application for Federal Aid (FAFSA) or Renewal FAFSA. Funding is limited and is awarded on a first come first served basis.

Charter Oak State College Fee-Award
Connecticut state law authorizes the Board of State Academic Awards, Charter Oak’s governing board, to allocate funds to be given as fee awards to degree seeking students with financial need who are either residents or non-residents of Connecticut. Fee-Awards vary per year depending on a student's need, actual fee(s) and the availability of funds. To apply, a student must file a Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA. These awards can only be applied towards:

• Matriculation
• Matriculation Renewal
• Re-Matriculation
• Matriculation Extension

Charter Oak State College Foundation Grant
Funding is made available through the Charter Oak State College Foundation, Inc. All awards are need based and funding can change yearly. If you have completed a minimum of one semester at Charter Oak, and are in good academic standing, you may be eligible for assistance. To be eligible, a student must also file a Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA.

Scholarships

To be eligible for any of the scholarships listed below, you must be currently matriculated at Charter Oak and be in good academic standing as defined in the College catalog for the year in which you matriculated. These awards are need-based. In addition, each scholarship has its own specific criteria. 

Charter Oak scholarships are as follows:
The John & Elizabeth Blennerhassett Scholarship
John and Elizabeth Blennerhassett are the parents of a Charter Oak State College graduate who is committed to the philosophy and the mission of the College and has established this named scholarship in their honor. This scholarship is open to working parents who show academic promise and financial need. The scholarship is open to applicants for the Fall 09 and Spring 2010 academic semester. Applications are due by August 3, 2009. One recipient will be awarded $700.

The Organizational Leadership Scholarship
R. Wayne Clugston established the Organizational Leadership Scholarship. Income from the Organizational Leadership Fund will be used to provide scholarships for Charter Oak State College students who are preparing for clearly defined leadership roles in service-based organizations. Preference will be given to individuals associated with smaller organizations that are providing quantifiable support toward the individuals’ leadership goals. This scholarship will not be available for the Fall 09 and Spring 2010 academic semesters.

The Sgt. George R. Dingwall Scholarship
This scholarship was established in memory of Sgt. George R. Dingwall, a Charter Oak graduate who lost his life in the line of duty as a law enforcement officer in Middletown, CT. The Scholarship is open to full-time law enforcement officers from any geographic region of the United States, with preference given to law enforcement officers from Connecticut. The scholarship can be used to cover tuition, fees, books or other educational expenses. It will not be available for the Fall 09 and Spring 2010 academic semesters.

The Harris-Wiener Family Scholarship
The Harris-Wiener Family Fund was established by Charter Oak State College President Merle W. Harris and her husband, David, in 1998, to assist those who want to continue their education, particularly women wishing to pursue careers in education, social service or public service. The parents of both David and Merle Harris believed that education was the key to success and also stressed the importance of serving others. These family values are reflected in the criteria for this scholarship.
This scholarship is open to women, who are employed, have demonstrated financial need, and who show academic promise. Preference for awarding will be given to individuals who are employed in or planning a career in:

• Education
• Early Care and Education
• Government
• Non-profit Organizations

This scholarship has been awarded for the Fall 09 and Spring 2010 academic semester.

The Beverly and Rodney Hawes Endowed Scholarship
The Beverly and Rodney Hawes Endowed Scholarship for “Making a Difference in Business” was established June 2003. Income from the fund supports scholarships to be given periodically to a Charter Oak State College student who is pursuing a business concentration or an Individualized Studies concentration with a business focus, demonstrates qualities of leadership, and a commitment to community. This scholarship will be awarded to three students for the Fall 09 and Spring 2010 academic semester. This scholarship has been extended. Applications are due by August 3, 2009. Each award will be $800.

Charter Oak Scholarship Application Process

Completely fill out the application form. Submit a well-written essay articulating your academic, personal and professional goals, and how you meet the scholarship criteria above. Your essay should be neatly typed, double-spaced and no longer than 250-300 words (about one and half pages, double-spaced). Submit a separate statement detailing your financial need.

Deadline

Forward the completed application, essay, and financial need statement for the appropriate scholarship to Sheila Perry-Reveron. Please look over the deadline dates for applications. For more information, please contact Sheila Perry-Reveron at (860) 832-3879 or .

Federal Direct Stafford Loans

Charter Oak State Colleges participates in the William D. Ford Direct Loan Program. These are federal loans and we also refer to them as Direct Loans. When you borrow a Direct Loan your lender is the U.S. Department of Education rather than a bank or other financial institution. These loans have fixed rates with low interest rates and fees. You must be at least half-time (six credits) in order to receive a loan.

There are two types of Federal Direct Loans:

Subsidized loans are need-based, and interest does not accrue on these loans while you are in school, during a six-month grace period immediately preceding repayment, and during authorized deferment. Interest that accrues on a Subsidized Stafford Loan while you are in school, during your grace period, and during authorized deferments periods is paid by the federal government.

Unsubsidized loans are not need-based, and you are responsible for all of the interest that accrues on the loan, including while you are in school, but you do not have to pay the interest during this time. Unpaid interest that is deferred until after graduation can be "capitalized" (added to the loan principal). This means that you will pay interest on a higher loan amount when you go into repayment.

Loan Limits:

Dependent	Annual Loan Limit:
Freshman	$5,500 ($3,500 between subsidized and unsubsidized, plus an additional $2,000 in unsubsidized)
Sophomore	$6,500 ($4,500 between subsidized and unsubsidized, plus an additional $2,000 in unsubsidized)
Junior/Senior	$7,500 ($5,500 between subsidized and unsubsidized, plus an additional $2,000 in unsubsidized)
Independent	Annual Loan Limit:
Freshman	$9,500 (3,500 between subsidized and unsubsidized, plus an additional $6,000 in unsubsidized)
Sophomore	$10,500 ($4,500 between subsidized and unsubsidized, plus an additional $6,000 in unsubsidized)
Junior/Senior	$12,500 ($5,500 between subsidized and unsubsidized, plus an additional $2,000 in unsubsidized)

Lifetime Loan Limits:

Undergraduate Dependent Lifetime Limit	$31,000 (up to $23,000 may be subsidized)
Undergraduate Independent Lifetime Limit	$57,500 (up to $23,000 may be subsidized)

Interest Rates:
The interest rate for subsidized loans, first disbursed on or after July 1, 2009 is 5.6%

The interest rate for unsubsidized loans, first disbursed on or after July 1, 2009 is 6.8%

Fees:
For loans first disbursed on or after July 1, 2009 the default fee is 1% and origination fee is 0.5%

Outside Scholarships

Outside scholarships are usually competitive, which means that you must complete and submit an application in order to be considered for these scholarships.

Students may receive awards from organizations or departments outside of the Office of Financial Aid. These may include awards from an employer, government agencies, private clubs, organizations, and others. If you receive an award that does not appear on your award notification letter, it is unlikely that the Office of Financial Aid has been informed of the award. It is, therefore, your responsibility to notify the Office of Financial Aid of the source of all outside awards and the amount as soon as possible.

If you receive an outside scholarship, that amount will be first deducted from the self-help portion of your financial aid award (loans) dollar-for-dollar. If the outside scholarships eliminate all self-help aid, we will decrease your grant funds accordingly.