types of financial aid

Financial Aid Programs currently available at Bon Secours Memorial College of Nursing:

Federal Pell Grants

For students who have not earned a baccalaureate degree or first professional degree. Eligibility is determined from the information you submit on the Free Application for Federal Student Aid (FAFSA) form. Part-time students are also eligible for these funds on a prorated basis.
Federal Supplemental Education Opportunity Grant

Additional gift assistance awarded to undergraduate students who also qualify for the Pell Grant, FSEOG is available to students who would not be able to attend School without this assistance. Funds are limited and awarded on a "first come" and "highest need" basis. These funds are also available to part-time students.
Federal Work Study (FWS)

Provides jobs for students with financial need. FWS encourages students to perform community service and work related to their courses of study to help pay for education expenses. Work-Study money is not paid until earned. Positions are available on-campus and off-campus.
Federal Direct Stafford Loan Program (subsidized and unsubsidized)

William D. Ford Federal Direct Loan Program – The College participates in the Direct Lending Program. Federal Direct Stafford Loans will be processed through the federal government's William D. Ford Federal Direct Loan Program. You must be enrolled as at least a half-time student to be eligible for a Stafford Loan. There are two types of Federal Direct Stafford Loans: subsidized and unsubsidized. You must have financial need to receive a subsidized Stafford Loan. The U.S. Department of Education will pay (subsidize) the interest that accrues on subsidized Stafford Loans during certain periods. Financial need is not a requirement to obtain an unsubsidized Stafford Loan. You are responsible for paying the interest that accrues on unsubsidized Stafford Loans.

For more information about the William D. Ford Federal Direct Loan Program go to https://studentloans.gov.
Federal Direct PLUS Loan (Parent Loan for Undergraduate Students)

PLUS Loans are made to parents (natural or adoptive) of a dependent undergraduate student enrolled at least half-time. Applicants must pass a credit check, or secure a creditworthy endorser. The yearly limit on a PLUS Loan is equal to the cost of attendance minus any other financial aid received. The borrower is responsible for all interest that accrues on the loan from the first disbursement. Funds are disbursed in two or more installments, and repayment begins within 60 days of the last disbursement.
Private Grants and Scholarships

Please refer to the Student Catalog/Handbook for more information regarding other Grants or Scholarships available through the College.
Private and Alternative Loans

Recommended by the College's Office of Financial Aid only after all other types of financing options (including federal loans) are considered – in order to assist in meeting a student's cost of attendance (COA).
Loan Payback Program

Bon Secours also offers a Student Loan Payback program. Graduates of the College who accept employment with any of the Bon Secours Virginia hospitals can pay off a specified amount of their private student loans. *There is no guarantee of employment with Bon Secours Richmond Health System or Bon Secours Virginia Health System. However our Career Placement Specialist is available to assist students with their employment goals. For further information on this program, please contact the Career Placement Specialist at 804-327-5305.
Veteran Educational Benefits

Students eligible to receive veteran's educational benefits must complete the appropriate forms to receive benefits. Once the appropriate forms are completed, the Registrar will certify enrollment with the Veteran's Administration. Students are required to notify the Registrar when courses are added or dropped.

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