Understanding Your Award

We strongly advise that you schedule a financial aid call with the admissions team to make sure that you fully understand your award.

Your financial aid award gives you an indication of how much financial aid you qualify for. There are three primary types of financial aid: Schedule your personal financial aid call

Federal and State Grants

These grants are free money. This is money that you do not have to pay back. It has been offered to you based on the information that you filled out on your Free Application for Federal Student Aid (FAFSA).

Common Grants

Pell: Federal Grant

SEOG: Federal Grant

MAP: For Residents of IL only

Quick Tip Many institutions will offer you more money your first year than for your subsequent years. That is NOT the case at GU, but we do encourage you to ask this question as you review other financial aid awards.

Greenville Grants and Scholarships

This is free money. This is money that you do not have to pay back. It has been offered to you based on need and/or merit.

100% of traditional undergraduate students receive scholarships. You should see at least one GU scholarship on your award.

This is your award for your entire time at GU if you maintain good standing with the institution and with your scholarship program. (See your offer letter for specific parameters).

Federal Student Loans

Your financial aid offer lists federal loans for which you are eligible. This is based on the information you supplied on your FAFSA. You borrow federal student loans from the US Department of Education. They are subsidized or unsubsidized. Please note that you are not required to take out student loans nor are you required to take out the entire loan that you are offered. This is just one option that we provide you with to help finance your education.

An origination fee is a percentage of your loan amount charged by the lender for the processing of your loan. Therefore, the amount you receive might be slightly lower than the amount you accept.

Subsidized – Awarded to students who demonstrate financial need.

The US Department of Education pays the interest while the student is enrolled at least half-time. Payment is deferred until 6 months after graduation or withdrawal from school. Unsubsidized – Awarded to students who complete the FAFSA each year. Interest begins to accrue at the time of disbursement. Payment is deferred until 6 months after graduation or withdrawal from school.

Parent PLUS Loan – Credit-based loan from the US Department of Education that a parent or guardian can apply for each year. The maximum amount a parent or graduate student may apply to borrow is equal to the Cost of Attendance less any other financial aid for which the student has qualified. Applications open on April 1st. If a PLUS Loan is not approved, a student may be awarded additional unsubsidized loans in its place.

The interest rate is the

percentage of the amount loaned charged as a fee to the borrower on top of the principal balance.

Origination Fee

Loan Type

Direct Subsidized Loans

Direct Unsubsidized Loans 3.73%

3.73% 1.057%

1.057%