Government Assistance & Loans

Federal Grants & Work Study

Federal Pell Grant:

The Federal Pell Grant is an entitlement to students who qualify under a federal formula which determines eligibility. To be eligible, a student must be a U.S. citizen or permanent resident and must not have earned a bachelor’s degree. This award is a grant, not a loan.

Federal SEOG Grant:

The Federal Supplemental Educational Opportunity Grant program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered for FSEOG.

Federal TEACH Grant:

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program was established under the College Cost Reduction and Access Act (CCRAA), to benefit current and prospective teachers.  Award amount: up to $4,000 per academic year.

Find out more here.

Federal Work Study Program:

The Federal College Work-Study Program is designed to make employment opportunities available to college students.  It is a federally funded aid program, available to matriculated students.  Priority will be given to students in full-time attendance.  A portion of the federal work-study funds will be used to employ students in community service jobs.  A work-study student may qualify to work up to eight hours a week during the academic year, although academic considerations may limit work to six hours per week.  Hiring is done by the agency or department which will employ the students.

Federal Student Aid Program web site

Veteran’s Benefits:

Houghton College is approved by the New York State division of Veterans Affairs for the training of veterans. Houghton College also participates in the Yellow Ribbon Program for students receiving educational assistance under the Post-9/11 GI Bill.  Information is available in the Student Financial Services Office.


Houghton College Code of Conduct for Financial Aid Professionals

An institutional financial aid professional is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity.  In doing so, a financial aid professional should:

  • Refrain from taking any action for his or her personal benefit.
  • Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she serves.
  • Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
  • Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student financial aid.
  • Refrain from soliciting or accepting anything of other than nominal value from any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses) for serving on an advisory body or as part of a training activity of or sponsored by any such entity.

Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.

Federal Direct Loan Program:

The Department of Education has two Federal Direct Loan Programs: the need-based subsidized Federal Direct and the non-need unsubsidized Federal Direct Loan Program. It is possible for a student to qualify for both programs. However, you may never borrow more than the loan limit or the difference between the cost of attendance and your other financial aid —whichever is less.

Apply for loans, complete necessary paperwork and find out more at:

Direct Loan Program - Subsidized (Need Based)

The Direct Loan Program provides loans up to $3,500 for freshmen, $4,500 for sophomores, and up to $5,500 for juniors, seniors or 5th-year undergraduate students.  Loan proceeds will be disbursed 30 days after the beginning of the semester. The government will pay (subsidize) the interest on the loan while the student is in school. For subsidized Direct loans first disbursed on or after July 1, 2014, the interest rate is 4.66%, subject to change.

Direct Loan Program - Unsubsidized (Non Need-Based)

This program is available only after Direct loan eligibility is determined.  For Unsubsidized Direct Loans first disbursed on or after July 1, 2014, the interest rate is 4.66%, subject to change. The borrower is responsible for paying interest while in school. Interest may be added to the amount borrowed or paid when billed. The federal government has extended the Direct loan program to now allow all students to borrow an additional $2,000 in Unsubsidized Direct Loan funding. This amount has been included in your financial aid package. Of course, we do not encourage you to borrow more than you need, but want you to know that this additional resource is available.

Federal Direct Loan Limits (Subsidized and Unsubsidized)


Undergraduate Students


Graduate Students





$5,500 ($3,500)3

$9,500 ($3,500)


$20,500 for each year


$6,500 ($4,500)

$10,500 ($4,500)

3rd- and 4th-year

$7,500 ($5,500)

$12,500 ($5,500)


$31,000 ($23,000)

$57,500 ($23,000)

$138,5004 ($65,500)


1Except those whose parents are unable to borrow a PLUS loan.

2These limits also apply to dependent students whose parents are unable to barrow a PLUS loan.

3The numbers in parentheses represent the maximum amount that may be subsidized.

4The aggregate amounts for graduate students include loans for undergraduate study.

The actual loan amount you are eligible to receive for an academic year is determined by Houghton College and may be less than the maximum annual amounts shown in the chart above.  The aggregate limits include both Direct Subsidized and Unsubsidized Loans received through the Federal Family Education Loan (FFEL) Program.

Federal Perkins Loan:

The Federal Perkins Loan is a low-interest (5 %) loan program administered by Houghton College, and recipients are selected on the basis of financial need. Recipients must be at least half-time students. The loans are interest- and payment-free until nine months after a student graduates or ceases attendance at the college.

Federal PLUS Loan:

The PLUS Loan program is available to the parent of a dependent undergraduate student. The yearly limit on a PLUS loan is equal to the cost of attendance minus any other financial aid. The Department of Education will complete a credit check. For Federal PLUS Loans first disbursed on or after July 1, 2014, the interest rate is 7.21%, subject to change.  Dependent students whose parents have been denied a PLUS loan are eligible to receive additional Direct Unsubsidized Loan funds.

Alternative Student Loan:

Alternative Student Loans are private educational loans.  The loan is in the student’s name; however, the student is required to have a credit-worthy cosigner. This may help lower the interest rate as well as increase the likelihood of approval. The interest rate varies by lender and credit score.  Students are eligible to apply for a maximum loan of the cost of attendance minus financial aid.  Loan approval is based on certification by the Student Financial Services Office and a credit-worthy history for the student and co-signer.

View Houghton’s preferred lender list.

If you do not want to borrow from one of our preferred lenders, you may visit another lender’s website. We process the majority of our alternative loans through Great Lakes. If your lender does not process loans through Great Lakes, it is your responsibility to provide us with instructions of how to process your loan.

New York State Financial Aid

New York State Scholarships for Academic Excellence:

Up to 2,000 scholarships of $1,500 are awarded each year to the top graduating scholar at each registered high school in New York State, with $1,500 and $500 scholarships awarded also to other outstanding students.

New York State Tuition Assistance Program (TAP):

New York State's Tuition Assistance Program (TAP) is a state-funded program for New York state residents. A recipient of this award must be a full-time matriculated student in an approved program at an approved New York state post-secondary institution. Grants are based on the New York net taxable income of the preceding year. This program is an entitlement program.  Christian Formation majors are ineligible for TAP unless they declare a second major.

New York State Higher Education Services Corporation web site

NYS Math & Science Teaching Incentive Scholarship:

The NYS Math & Science Teaching Incentive scholarship provides grants to eligible full-time undergraduate or graduate students in approved programs that lead to math or science teaching careers in secondary education.  Find out more here.


Army ROTC Scholarships:

Students at Houghton College may receive an Army ROTC scholarship in cooperation with St. Bonaventure University (Allegany, N.Y.). The purpose of the Army Reserve Officer's Training Corps scholarship is to assist students in paying for their college education while they complete requirements for a commission in the United States Army. Most scholarships cover tuition, fees, and books and offer a monthly subsistence allowance.  Contact the Admission Office or your local Army recruiter for more information.

Army ROTC website

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