The exact amount we can offer you will vary depending on:
- Your personal financial resources (aid is need-based)
- The level of your degree program (undergraduate or graduate)
- Your past student financial aid history (there is a lifetime borrowing cap for undergraduate and graduate degrees)
Generally we are able to offer a mix of loans, which accrue interest and must be paid back, and grants, which do not need to be paid back and are offered to the neediest students.
Your financial aid eligibility is determined when you apply for financial aid with the federal government. Find out more about how to apply for financial aid here. You can also estimate your total costs by using our Netprice Calculator for GPS Students.
Undergraduate Financial Aid Options & Federal Student Loans
Federal Unsubsidized Stafford Loan – A loan on which interest begins to accrue immediately, and on which you must pay the interest even while you are studying. The interest rate for this loan as of March 2013 was 6.8%.
Federal Subsidized Stafford Loan – A loan for needier students enrolled at least half-time on which interest only begins to accrue after you graduate. There is a six-month grace period before repayment begins. The interest rate for this loan as of March 2013 was 3.4%.
Parent PLUS Loan – If you are a dependent student (you live with and are supported by your parents), your parents can take out a loan to pay for your education. The loans are offered based on an evaluation of your parents’ credit history and have a fixed interest rate of 7.8% as of March 2013. Other fees may apply.
Pell Grants – Federal government grants awarded to needy undergraduates who are earning their first bachelor’s degree. Eligibility guidelines for Pell Grants are very specific, and are only awarded for six full-time years of study. The amount of your Pell Grant may vary from year to year depending on your course load. It will never cover 100% of your tuition; only a portion.
Undergraduate Borrowing Caps: The total amount a dependent student in our GPS program can borrow in loans is $31,000. The total amount an independent student can borrow is $57,500.
Graduate Financial Aid Options
Federal Unsubsidized Stafford Loan – A loan on which interest begins to accrue immediately, and on which you must pay the interest even while you are studying. The interest rate for this loan as of March 2013 was 6.8%. Graduate students can borrow up to $20,500 in unsubsidized loans.
Graduate PLUS Loan – PLUS loans are offered based on an evaluation of your credit history and have a fixed interest rate of 7.9%. Other fees may apply. Payments are deferred while you are studying with at least a half-time course load. After you leave your program (or drop below half-time), you have a six-month grace period before repayment begins.
Graduate Borrowing Caps: Overall, graduate students can borrow up to $138,500 in loans, including the unsubsidized loans.
Scholarships for Averett GPS Students
Please note that GPS students are not eligible for Virginia Tuition Assistance Grants (VTAG).
Questions About Paying for Your GPS Degree?
Have a question about the types of aid, federal student loans or scholarships in Virgnia that you can receive as an Averett GPS student? Contact an admissions counselor today or request more information.