Types of Aid

***In order to be considered for most types of Financial Aid, students must first complete a FAFSA application at www.fafsa.ed.gov. 

 

Federal Pell Grant

The Federal Pell Grant is a form of aid that is based on financial need as determined by the FAFSA. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. The current maximum Federal Pell Grant award is $5,550.  Once a student has received the Pell Grant for 12 semesters, or its equivalent, they will no longer be eligible to receive additional Pell Grants.


Federal Supplemental Educational Opportunity Grant (SEOG)

The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. SEOG awards range from $200 - $1,000 annually. The priority deadline for SEOG and Perkins consideration at Kean University is April 17th for the following academic year.


NJ Tuition Aid Grant (TAG)

NJ Tuition Aid Grant awards at Kean University range from $1,712 to $5,880 and are awarded to students with the greatest financial need. Recipients (and parents of dependent students) must be a resident of New Jersey and enrolled full time at Kean University in an undergraduate program for this award. The award is renewable for up to nine semesters. Continuing students must complete their FAFSA prior to June 1st to be considered for TAG for the following academic year.


2014-2015 ADDITIONAL DATA COLLECTION FOR STATE AID (TAG)

Your eligibility for NJ State student financial aid (TAG/NJ STARS) will be determined after you respond to a few additional questions. You can go to www.hesaa.org and complete the questions online or download the form and fax it to 609-588-2228/7389. You can also mail it to STATE OF NEW JERSEY, HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY, 4 QUAKERBRIDGE PLAZA – PO BOX 540 TRENTON, NJ 08625.


FOR YOUR CONVENIENCE WE HAVE ALSO INCLUDED THE DOWNLOADABLE FORM ON OUR FORMS WEBPAGE. PLEASE READ AND FOLLOW ALL DIRECTIONS.

FAFSA filing Deadline Dates for 2014-2015 TAG:
 June 1, 2014 for students who received a TAG award during the 2013-14 academic year.



 

All other applicants: 
October 1, 2014 – 2014 Fall & 2015 Spring terms.
 March 1, 2015 – 2015 spring term only.The State of New Jersey prohibits the use of TAG and STARS II grants for all community college courses after the completion of an associate's degree (or five semesters of full-time study at a community college). Moreover, students who have completed the associate's degree (or five semesters of full-time study at a community college) must register for at least 12 credits in Kean courses in order to remain eligible for TAG and STARS II grants. For these reasons, students seeking to remain eligible for TAG or STARS II funding may find it difficult to do so while undertaking one or more classes at another institution. For example: if a student is taking six credits at Kean and six credits at another institution, the student is not eligible for TAG or NJ STARS II.


Special Notation for Kean-OCC students:

Half and in some cases more than half of the courses specified for these plans are Ocean County College courses, none of which can be paid for with TAG or STARS II funding once a student has completed an associate's degree (or five semesters of full-time study at a community college).


NJ Educational Opportunity Fund (EOF) Grant

Grants are up to $1400 per academic year for on-campus resident students and $1150 per academic year for commuter students. Students must be residents of New Jersey with financial need and a scholastic background, which might otherwise prevent them from attending college. Recipients must be enrolled full time at Kean University in an undergraduate program for this award.


New Jersey Garden State Scholarship Program

The State of New Jersey offers financial assistance to high-achieving students through the Garden State Scholarship Program. Two scholarship funds are administered through this program: The Edward J. Bloustein Distinguished Scholars Program and the Urban Scholars Program. Recipients must be residents of New Jersey and enrolled full time at Kean University in an undergraduate program to qualify for these awards. The New Jersey Garden State Scholarship Program does not have authorized funding beyond the 2010-2011 Award Year, therefore no new students have been identified to receive these funds.


Edward J.Bloustein Distinguished Scholars Program

This scholarship is awarded for the academic year, without regard to financial need. Distinguished Scholars are offered $1000 per academic year. Funding for this program has not been authorized beyond the 2010-2011 Award Year, therefore no new students have been identified to receive these funds.


Urban Scholars Program

This scholarship recognizes academically talented students from New Jersey’s urban and economically distressed areas. Urban Scholars are offered $1000 per academic year. Candidates must be in the top 10 percent of their class and have a 3.00 grade point average at the end of their junior year. Funding for this program has not been authorized beyond the 2010-2011 Award Year, therefore no new students have been identified to receive these funds.


NJ STARS II

Scholarships for up to four semesters are available to NJ Stars students who graduated from a New Jersey county college with an associate’s degree and transfer to a New Jersey four-year public institution. Students must be full-time and maintain at least a 3.25 GPA each semester to maintain eligibility.


New NJ STARS II students beginning Fall 2013 will be eligible to receive awards up to $1,250 per semester

A valid / current FAFSA and final official grade transcript MUST be on file BEFORE NJ STARS II can be awarded.

Transfer students new to Kean MUST self-identify as an NJ STARS II student on the Admissions application AND also by calling the NJ STARS II Coordinator in the Kean Financial Aid Office @ (908) 737-3194. Click here for detailed information.


NOTE: Students who began NJ STARS II program participation prior to Fall 2012 will no longer be "grandfathered" to receive the higher NJ STARS II awards (subject to change based on the annual state appropriations act).


To provide students with the utmost customer service, New Jersey Higher Education Student Assistance Authority (HESAA) has implemented an email address and telephone number specifically for NJ STARS and NJ STARS II. The new NJ STARS and NJ STARS II email address is NJSTARS@hesaa.org and the telephone number is 1-800-792-8670 or (609) 588-3594.


Teacher Education Assistance for College and Higher Education (TEACH) Grant

Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants of up to $4,000 per year to students who intend to teach a high-need field in a public or private elementary or secondary school that serves students from low-income families. Click here for additional TEACH Grant information.

TEACH Grant awards available to only Juniors, Seniors, and Graduate students. Students enrolled in the Post-baccalaureate Teacher Certification program via Undergraduate Admissions are not eligible. However, students enrolled in the Graduate certification programs via Graduate Admissions are eligible.


Federal Direct Stafford Loans (Subsidized and Unsubsidized)

This loan program is administered by the University. Subsidized Direct Loans are based on need, while Unsubsidized Direct Loans are not need-based. A student may receive a combination of both loans but the following loan limits by grade level cannot be exceeded. Students must be enrolled at least half-time (6 or more credits for undergraduates) to be eligible to receive a Direct Stafford loan. Please visit www.studentloans.gov for more information.


Annual Maximum Federal Direct Loan Limits

Undergraduate Direct Loans



 Dependent Independent
 


Freshmen (0 - 28.5 credits) $5,500 $9,500
 


Sophomore (29 - 55.5 credits) $6,500 $10,500
 


Junior and Senior (56 - 124 credits) $7,500 $12,500

*


The undergraduate dependent student loan total cannot exceed $31,000, and the total loans for an undergraduate independent student cannot exceed $57,500.


Graduate Direct Loans (unsubsidized only beginning with July 1, 2012)

Each year, a graduate student may borrow up to $20,500 in unsubsidized Federal Direct Loans. Changes to Federal Regulations no longer allows for subsidized loans for graduate students. Click here for a look at the terms for Graduate/Professional Loans.


*The maximum amount a graduate student can borrow upon graduation is $138,500 (up to $65,000 in subsidized loans). Certain graduate schools, such as health-related schools, allow up at $224,000 in graduate student loans.


Graduate Plus Loan

The Graduate Plus Loan is a credit based, fixed interest rate student loan funded through the United States government that provides assistance for graduate and professional degree students. Students may borrow up to the total cost of their education and must be enrolled at least part-time. Students must be credit worthy to be eligible.


Federal Perkins Loan

Federal Perkins Loan is administered by the University. Depending on funding available, loan amounts range from $600 - $1200 per academic year. Priority is given to students who file before the April 17 deadline. The Perkins Loan carries an interest rate of 5 percent. Repayment begins nine months after you graduate, leave school, or drop below half-time enrollment status. This is a need-based loan.


Federal Parent Loan for Undergraduate Students

Federal Parent Loan for Undergraduate Students provides government-insured, long-term, low-interest loans for eligible parents of dependent, undergraduate students who generally do not qualify for other financial assistance. Parents may borrow up to the total cost of their dependent student's education minus any other aid for which the students are eligible. Parents must be credit worthy to be eligible.


Federal Work Study

The Work-Study Program provides jobs for students with financial need, allowing them to earn money to help pay educationally related expenses. The program offers jobs on-campus and with off-campus community service agencies. Students are paid on an hourly basis and can work up to 20 hours per week. The program is available to both graduate and undergraduate students. Work-Study applications are available at the Office of Financial Aid.


Private loan (Alternative loan)

Alternative loans are private loans offered through a lending institution and not part of federal government programs.
You have the right and the ability to select the education loan provider of your choice.

Private Loan New Regulations 
*effective February 14th, 2010*


The Higher Education Opportunity Act of 2008 amended the federal Truth-in-Lending act to include new disclosure requirements and to prohibit certain practices for creditors making private education loans.


What does this mean for you, as a student? 

  • Lenders will be required to send you new standardized disclosures. 
  • You will be required to complete a “self-certification” with the lender. 
  • You will be given a 30-day approval window to accept loans offered. 
  • You will have a 3-day right to rescind the loan.

 


Self-Certification Form:

You will be asked to provide the following:

  • Cost of Attendance based on # of credits. Click here  to view undergraduate Cost of Attendance
  • Financial assistance or financial aid you may be eligible for. Log into KeanWISE to view your financial aid award.
  • Copy the information onto the Self-Certification form and submit to lender.

 


Self-Certification example (Department of Education): 

Students cost of attendance for the period of enrollment covered by the loan: $27,504.00

Estimated financial assistance: $5,500.00 

Difference between amounts A and B: $22,004.00

 


After the Self-Certification is received, the University can then certify for disbursement.

 


Study abroad

The Center for International Studies coordinates Kean’s Study Abroad program. Click here for additional information in participating in the Study Abroad program.


Students should complete the current FAFSA in order to be considered for financial aid. Students choosing to have their financial aid applied to the study abroad program will fill out and submit the appropriate agreement available in the Center for International Studies. Students who are eligible for state aid may not be able to receive state aid during the semester that they are studying abroad. If additional aid is needed, students may apply for alternative loans (see the information pertaining to alternative loans under “types of financial aid” on the financial aid section of the website) or parents of dependent students may be able to apply for the Parent Plus loan.


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