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Most federally subsidized financial aid resources are classified
as “need based” programs. Accordingly, the submission
of the FAFSA
to the processor using an approved “needs analysis”
formula is required.
Federal programs include: Pell Grant, Supplemental Educational
Opportunity Grant (SEOG), Academic Competitiveness Grant
(ACG), National SMART Grant, Work Study Program, Perkins
Loan, Stafford (student) Loan (subsidized and unsubsidized).
The Federal Pell Grant is an entitlement. The SEOG, Work
Study and Perkins Loans are awarded at the discretion of
the institution. The SEOG and Perkins programs are awarded
to students with exceptional financial need. Methodist University
has defined exceptional need as Pell Grant eligible.
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