What financial aid programs are available at Montgomery College (MC)?


The financial aid programs available at Montgomery College are listed in the paper Credit Schedule, printed each semester and in the Montgomery College Catalog, available from the Admissions and Records Office.

Montgomery College Office of Student Financial Aid has information in print, online and students may visit the office on any campus during regular business hours. The main phone number is 240-567-5100.  The web location is as follows:


  • Most students who attend MC are eligible for some form of assistance awarded by the federal, state or college based aid programs.

  • There are three types of federal programs----grants, loans, and jobs..

  •  There are numerous state grants and scholarships awarded by The Maryland Higher Education Commission, State Scholarship Office. 

  • MC offers Board of Trustees Grants and Foundation Scholarships, as well as Student Assistant (SA) a part-time job program.

 Federal Student Aid Summary
The following is a summary of the U.S. Department of Educationís Federal Student Aid (FSA) programs that will help you pay for school-the following chart is copied from The Student Guide, a publication of the US Department of Education. 


Federal Student Aid Program

Types of

Program Details

Annual Maximun
Award Limits

Pell Grant

Grant: does not have to be repaid

Available almost exclusively to undergraduates; all eligible students will receive the Federal Pell Grant amounts they qualify for

$4,050 for 2004-05

Federal Supplemental
Educational Opportunity
Grant (FSEOG)

Grant: does not have to be repaid

For undergraduates with exceptional financial need; priority is given to Federal Pell Grant recipients; funds depend on availability at school



Money is earned while attending school; does not have to be repaid

For undergraduate and graduate students; jobs can be on campus or off campus; students are paid at least minimum wage

No annual maximum

Perkins Loan

Loan: must be repaid

Five percent loans for both undergraduate and graduate students; payment is owed to the school that made the loan

$4,000 for undergraduate students; $6,000 for graduate students

Subsidized FFEL or Direct Stafford Loan

must be repaid

Subsidized: U.S. Department of Education pays interest while borrower is in school and during grace and deferment periods

$2,625 to $8,500, depending on grade level

Unsubsidized FFEL or Direct Stafford Loan

must be repaid

Unsubsidized: Borrower is responsible for interest during life of the loan

$2,625 to $18,500, depending on grade level (includes any subsidized amounts received for the same period)

Federal PLUS Loan

must be repaid

Available to parents of dependent undergraduate students

Cost of attendance minus any other financial aid the student receives



Federal Pell Grants for the 2004-2005 award year (July 1, 2004 to June 30, 2005) range from $400 to $4,050. The major  federal grant program is called the Pell Grant. As a rule, federal Pell Grants do not have to be repaid. They are awarded only to undergraduate students who have not earned a bachelor degree (in the United States or abroad). In order to receive a Pell Grant, you must have demonstrated financial need. Demonstrated need is measured by the federal need analysis formula by completion of the FAFSA. The student must be in good academic standing to receive the award, but the student does not need a high GPA (grade point average) as a condition of award for Pell.

  • Federal Supplemental Educational Opportunity Grants (FSEOG)  is a campus-based federal program for students with exceptional need.  The aid awards  can range from $100 to $4,000, depending upon the student budget and funds available at the college. Priority is given to students who receive Federal Pell Grants.

In Maryland, students may be eligible for the state grant called Educational Assistance Grant- (EAG).  There are conditions stated by the state scholarship office which include a requirement that recipients must be full-time, degree-seeking undergraduates who file the Free Application for Federal Student Aid (FAFSA) by March 1 for assistance for the following fall term. This grant is based on demonstrated need. Maryland also has scholarship programs also referred to as merit grants which have a grade point average requirement and a separate application process.  Visit the Maryland Scholarship website.


The major federal loan programs are the Federal Perkins Loan Program and the Stafford Loan Program. We do not discuss any other programs in this module.

 Federal Perkins Loan (formerly NDSL). A Federal Perkins Loan is a low-interest (5 per cent) loan for students with exceptional financial need. The loans are made by Montgomery College with funds that are distributed by the Federal government. You must demonstrate financial need and be registered for at least half time enrollment to receive this loan. Certain other conditions apply.

The Subsidized Federal Stafford Loan is available to those students with financial need that can not be covered solely by grants and scholarships. Students may apply for loans only after they have been reviewed for grant eligibility.


       The Federal Work-Study Program provides an opportunity for students to earn money to help pay for expenses related to college expenses. The program is designed to allow students to work on or off campus in a field related to their course of study. Federal Work-Study is a need-based financial aid program. You must apply for federal financial aid to qualify.

        Student Assistants (SA) This program is designed for those students who do not qualify for the Federal Work Study program. Students work on campus in various locations and have the same salary range as on campus Federal Work Study students. Positions in the Student Assistant program are available based on the level of College funding.

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