Many students rely on grants and scholarships to help cover the costs of their education. But the University also relies on the federal government for funding to help those students in need.
A recent New York Times article suggested that wealthy private universities such as Stanford, Harvard and Yale receive substantially more federal money than smaller, less prestigious colleges.
Patrick Dietrich, interim director for Student Aid and Scholarships, said the University received $95.6 million from the federal government last year for loans, grants and work-study programs.
Dietrich said he did not know how that number compared to other similar universities.
James LaJaunie, system director for loan services, said the process to get the money from the federal government depends on the type of financial aid.
LaJaunie said for Pell Grants, the University tells the government how much money it needs and generally receives that amount.
For student loans, LaJaunie said the University must go through loan lenders, and for work-study programs, the money generally is given directly to the University.
“There’s no one set way the money gets to us,” LaJaunie said.
LaJaunie said the money the University receives for work-study programs and Perkins loans go directly to students.
The University determines eligibility for Pell Grants and other student loans, LaJaunie said.
According to the Free Application for Federal Student Aid (FAFSA) Web site, all federal financial aid programs are administered by the Department of Education and provide more than $33 billlion a year to college and university students.
Pell Grants are given to undergraduate students only and do not have to be repaid. The federal government also guarantees loan funds for Stafford Loans.
Other federal grants to undergraduate students range from as little as $100 to as much as $4,000.
Perkins Loans must be repaid eventually. Undergraduate students may receive up to $4,000 annually, while graduate students may receive up to $6,000 a year.