In this tough economy, many people are taking a second look at returning to school to complete a degree or start a new one. Business degrees are particularly useful as they apply to virtually any industry and complement just about any experience or previous degree.
Morrison University in Reno has been offering business-related degrees for more than a century. It attracts students with previous education and work experience, as well as traditional students. Morrison University's hours are flexible to meet the needs of working students, as well as those with family responsibilities.
However, many students need some financial aid to help pay for the cost of education. Luckily, the federal government, which provides most of the nation's student financial aid, continues to support the higher education goals of students who qualify for assistance.
Students thinking about attending a career-oriented college such as Morrison University can turn to three types of federal student aid: grants, work study programs, and student loans.
Grants do not require repayment. There are three kinds of grants for qualifying students:
* The federal Pell Grant is the foundation of the federal student aid program. The maximum Pell Grant for the 2010-2011 school year is $5,550 the highest ever available. All students who qualify for a Pell Grant will receive funding.
* The Federal Supplemental Educational Opportunity Grant (FSEOG) is awarded to undergraduate students with exceptional financial need. These students usually qualify for Pell Grants as well. The amount of FSEOG awards vary and are determined by each school's financial aid office. Schools receive a limited amount of FSEOG funds.
* The Academic Competitiveness Grant is also awarded to students eligible for Pell Grants. Qualifying students must have completed a rigorous program of study in high school, be enrolled at least half-time, and are a freshman or sophomore enrolled in a degree program.
The Federal Work Study Program provides a limited amount of funds to schools to pay students for part time-employment while enrolled at the school. Like FSEOG, FWS amounts vary according to the amount a college receives from the federal government.
Student loans allow students to borrow money for their education. Loans must be repaid with interest.
The federal Direct Loan Program offers loans to students to cover tuition and books costs. There are three main types of direct loans:
* The Subsidized Direct Loan is a need-based loan available to undergraduate and graduate students enrolled at least half time. The U.S. Department of Education will pay (subsidize) the interest that accrues during periods of enrollment. The limit for subsidized loans to undergraduates is $23,000.
* The Unsubsidized Loan requires the student to pay accrued interest to the school. The limit for unsubsidized loans is $34,500. Since students can obtain both kinds of loans, the total maximum loan debt an independent undergraduate can assume is $57,500.
Students who continue to graduate school may not borrow more than is $138,500 toward all their education costs. Payments on both subsidized and unsubsidized loans begin six months after a student stops attending school at least half-time. Students must re-apply for loans each year.
* The PLUS loan is available to parents of dependent students. The parent has the option of repaying the PLUS loan 60 days after the loan is fully disbursed, or delaying repayment until six months after the dependent student is no longer enrolled at least half-time.
Students interested in applying for grants or direct loans must do so through the Free Application for Federal Student Aid on the federal student aid Web site. The FAFSA asks for information about the student's and/or family income from the previous year. It asks students to list each college they intend to apply to, so that each financial aid office can access financial aid information and assess the type and amount of aid a student can receive. Students must apply for aid each year.
Morrison University participates in the FAFSA process. It offers the following degree programs:
* Accounting Associate of Science, Bachelor of Science
* Computer Science Associate of Science
* Management Associate of Science, Bachelor of Science
* Master of Business Administration
Founded in 1902, Morrison University delivers a real-world, hands-on teaching environment where students earn degrees to give them a competitive edge for entry-level positions in high-demand careers in accounting, management, and computer science.
Morrison University is located at 10315 Professional Circle in Reno, near Highway 395 and South Meadows.
Jim Hadwick is director of financial aid at Morrison University in Reno.
