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International students are not eligible for federal work-study but may be eligible for institutional work-study with a valid Social Security number. All employees must provide a valid social security number and be prepared to establish eligibility to work in the United States within three business days of being hired.
LOANS Loans provide students with the opportunity to defer a portion of their educational costs and are considered part of a financial aid award package. For detailed information regarding annual loan limits refer to the Financial Aid page on the SCI-Arc website. SCI-Arc offers the following loan programs: Graduates: While Congress has eliminated the Subsidized Stafford Loan for all graduates, the Unsubsidized Stafford Loan is available. The loan is applied for by the student and has a fixed interest rate of 5.28%. The interest may be paid while enrolled or can accrue until graduation when repayment begins. The Grad PLUS Loan is for students enrolled in a postbaccalaureate program to help finance their educational cost. Eligibility is based on a credit rating. The student may be required to obtain an endorser to cosign this loan if they do not meet the credit requirements. The amount of a PLUS loan may not exceed the cost of education, minus any other financial aid received by the student. This loan has a fixed interest rate of 6.28%. The interest may be paid while enrolled or can accrue until graduation when repayment begins. Undergraduates: With a Subsidized Stafford Loan, the federal government will continue to pay the interest while the student is enrolled over half-time, up to the graduation date. This loan is based on financial need and verification must be completed prior to disbursement of funds. The fixed interest rate on this loan is 3.73%. The Unsubsidized Stafford Loan is also at a 3.73% fixed interest rate. The interest accrues from the time of disbursement and, unless monthly interest payments are made, will accrue through graduation, and be added to the principal amount borrowed. The Parent PLUS Loan is available to the parents of a dependent student who require financial assistance to help meet their child’s educational costs. Eligibility is based on the parent’s credit rating. The parent may be required to obtain an endorser to cosign if they do not meet the credit requirements. The amount of a PLUS loan may not exceed the cost of education, minus any other financial aid received by the student. This loan’s fixed interest rate is 6.28%.
