1)  Grants - Financial aid that does not have to be repaid.  The amount you receive
                      depends on your need, cost of attendance, and enrollment status.  FAFSA is required for
                      all Federal Grants.

                      a)  Federal Pell Grants
                           Approximately $400 - $4050 per year.
                           How much you get depends on your EFC (Expected Family
                           Contribution), your Cost of Attendance and whether you are a full or
                           part-time student
                      b)  Federal Supplemental Educational Opportunity Grants (FSEOG)
                           Amount depends on financial need, available funds, and the school
                           you are attending.
                           Approximately $100 - $4000 per year.
                          

     How will I be Paid?
          Your school can credit your grant funds to your school account, pay you directly,
          or combine these methods.  Schools must pay you at least once per term.

2)  Work-Study - Provides part-time jobs allowing you to earn money to help pay
                                for school.  It encourages community service work and work
                                related to your course of study.

     How will I be paid?
          Undergraduate student - by the hour/Graduate student - by the hour or salary;
          Your school must pay you at least once a month and send the payment directly
          to you, your bank account, or use the money for institutional charges such as
          tuition, fees, and room and board.

3)  Loans - Allows you to borrow money for school.  You must repay your loans,
                     with interest.

                    a)  Federal Perkins Loan
                         Maximum loan amount is $4000 per year for undergraduates;
                         $6000 for graduates
                         Priority to those with exceptional need
                         Repayment begins nine months after student status drops to
                         less than half-time; up to 10 years to repay.
                         Current interest rate is 0% while in school and 5% during repayment.
                         Must file FAFSA to be eligible.

                   b)  Federal Stafford Loans
                        Up to $3500 for first year students enrolled in a program that lasts for at
                        least a full academic year; and $4500 during their second year.
                        Limits are $5500 a year for remaining undergraduate years.
                        Repayment begins six months after student status drops
                        less than half-time; up to 10 years to repay.
                        Fixed interest rate of 6.8% as of 7/1/2006.
                        Federal Government pays interest while student is in school.
                        Must file FAFSA to be eligible.
              
                   c)  Federal Unsubsidized Stafford Loans
                        Dependent students may borrow up to $3500, less any
                        eligibility for the subsidized Federal Stafford Loan.
                        Same interest and repayment terms as Subsidized Federal Stafford,
                        except that interest is not subsidized and will accrue during
                        in-school and six month grace periods.

                  d)  Federal Parent Loan for Undergraduate Students (PLUS)
                        Parents must have no adverse credit.
                        Annual loan limit is the dependent student's cost of education
                        minus any financial aid received.
                        Repayment begins within 60 days of disbursement; up to 10 years to
                        repay.
                        Fixed interest rate of 8.5%.
                        Not required to file FAFSA.

2)  Watch your mail for a Student Aid Report (SAR). 
      You should receive this within 4 - 6 weeks, after the FAFSA has been processed. 
      Information is also sent to the college(s) named on the FAFSA.  If you don't receive
      a SAR on time, or if you need another copy, call (319) 337-5665.

3)  Check with the college(s) you are considering;
      they may require additional applications or forms.

4)  You'll receive an award letter from the financial aid office of each college you
      specify.   This document indicates the types of aid you are eligible to receive. 
      Your financial aid eligibility is the difference between the cost of education
      and the Expected Family Contribution (EFC). 
      The federal government performs a needs analysis to determine your EFC. 
      The cost of education includes tuition and fees, room and board,
       books and supplies, transportation, and misc. expenses.

Your Social Security card and Driver’s License.

Your income tax returns, W-2 forms and 1040 forms for the previous year.

 Your parent’s income tax returns, W-2 forms and 1040 forms
for the previous year (if you are dependent).

Records and documentation of other untaxed income received such as
welfare benefits, Social Security income, veteran’s benefits, AFDC,
or military or clergy allowances.

Business or farm records (if applicable).

Records relating to unusual financial circumstances, such as medical and
dental expenses not covered by health insurance, tuition expenses at elementary
or secondary schools, unusually high child care costs, death, divorce and
loss of employment.  (These aren’t required, but they could influence the amount received.)