Financial Aid Programs

National American University recognizes that many worthy students would be unable to pursue their educational goals without financial assistance.

National American University provides financial aid in the form of grants, scholarships, work-study and low-interest loan programs through federal, state and local sources.

Students interested in applying for financial aid through the following programs are encouraged to write and/or visit the university financial services office. The addresses for all locations of National American University are listed at the beginning of the catalog.

Federal Perkins Loans

A Federal Perkins Loan is a low interest loan (5 percent) for both undergraduate and graduate students with exceptional financial need. Priority is given to Federal Pell Grant recipients.

The annual maximum for each award year of graduate study is $8,000.

The aggregate (program) loan limit for a graduate student is $60,000 (including any Federal Perkins Loan borrowed as an undergraduate).

Repayment of Perkins Loans for first-time Perkins Loan borrowers begins nine months after the student graduates, withdraws or drops below half-time attendance. For details on deferments and/or cancellations, contact the financial services office. Funds are limited, therefore early application is important.

Scholarships

The following sites are free scholarship searches:

www.fastweb.com
www.scholarships.com
www.petersons.com/finaid/file.asp?id=780
www.collegeboard.com/student/pay
www.scholarshipexperts.com
www.findtuition.com/scholarships

Nursing scholarship site:
www.nursingscholarship.us

In the reference section of the university library and in the financial services office, further information is available concerning outside scholarships and how to apply for them.

Veterans Administration (VA)

Veterans and/or dependents of veterans who are disabled or deceased may qualify for educational financial assistance through the Veterans Administration. Since the regulations regarding eligibility are quite extensive and many times need interpretation, the student is referred to the Veterans Administration Center. State Veterans Administration Office locations may be found at www.va.gov/statedva.htm. Or you may call 1-888-442-4551 or contact your local Veterans Service Organization.

Other State and Federal Programs

Benefits may be available through such government programs as State Trade Adjustment Act, Minnesota State Grant Program (MSGP), Minnesota Child Care Grant (MCCG), Bureau of Indian Affairs (BIA), state vocational rehabilitation services (for mobility, hearing, and/or visually impaired), and the Military or Federal Tuition Assistance Programs.

Stafford Direct Loans

Direct Stafford Loans are for undergraduate, graduate and professional degree students. You must be attending as at least a half-time student to be eligible for a Direct Stafford Loan.

There are two types of Direct Stafford Loans: subsidized and unsubsidized. You must have financial need to receive a Subsidized Stafford Loan. Financial need is not a requirement to obtain an Unsubsidized Stafford Loan. The U.S. Department of Education will pay the interest that accrues on Subsidized Stafford Loans during certain periods of at least half-time enrollment, the grace period and during certain times of deferment. The U.S. Department of Education will at no time pay the interest that accrues on Unsubsidized Stafford Loans.

Annual and Aggregate (Program) Limits for Direct Subsidized and Unsubsidized Stafford Loans

	Dependent Student	Independent Student
Graduate Students	N/A	$20,500 (only $8,500 of this amount may be in subsidized loans)
Graduate Aggregate limits for Stafford Loans	N/A	$138,500 This includes amounts received during periods of undergraduate study. (No more than $65,000 may be in subsidized loans)