Grants and Loans

Eligibility for both grants and loans require that you complete your Free Application for Federal Student Aid. Find information about both types of aid here.

Grants

A grant is gift aid that is awarded based on financial need and that is not repaid. As a WCU student, you may be considered for a variety of grants sponsored by the federal government, the state of North Carolina, and WCU. When you apply for financial aid, you’ll automatically be considered for one of these grants. 

The following is a list of available grants:

FEDERAL PELL GRANTS

A federal grant based on financial need that is available to WCU undergraduates who meet eligibility requirements for federal aid. When we review your financial application, we start by determining whether you will receive a PELL Grant. The amount granted through the PELL is established by the U.S. Department of Education.

FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (F.S.E.O.G.)

If you receive a PELL Grant, still have financial need, and are enrolled full time, you qualify for an F.S.E.O.G. Federal guidelines and institutional policies determine the amount of the grant. Funds are limited, so apply by March 1st to be given top priority for the F.S.E.O.G.

NORTH CAROLINA NEED-BASED TUITION GRANT

The state of North Carolina sponsors this need-based grant, which is awarded based on your Estimated Family Contribution (EFC). You must be enrolled full time. Funds are limited, so apply by March 1st to be given top priority for this grant.

WCU TUITION GRANT

At WCU, we provide a need-based grant up to $1000 to help offset the cost of tuition for students who demonstrate financial need. The Tuition Grant is awarded based on your EFC. Funds are limited, so apply by March 1st to be given top priority for this grant.

Loans

You and/or your parents may need to borrow funds to supplement your educational expenses. The following loans are available to WCU students:

FEDERAL DIRECT SUBSIDIZED LOANS

Federal Direct Subsidized Loans are loans for students with financial need, as determined by federal regulations. No interest is charged while the student is enrolled at least half-time. Repayment will begin six months after graduation. Entrance Counseling and a Master Promissory Note must be completed prior to the first loan disbursement. Graduate students are not eligible for subsidized loans.

FEDERAL DIRECT UNSUBSIDIZED LOANS

Federal Direct Unsubsidized Loans are student loans not based on financial need. Interest charges begin at disbursement. Repayment will begin six months after graduation. Entrance Counseling and a Master Promissory Note must be completed prior to the first loan disbursement.

FEDERAL PLUS LOANS

Federal PLUS Loans are low-interest loans made to qualifying parents of dependent undergraduate students and to graduate students. The maximum amount a parent or graduate student may borrow cannot exceed the student’s cost of attendance budget minus any awarded financial aid. A credit check is required for this type of loan. Repayment can either begin sixty days after the final yearly disbursement or six months after the student graduates. Determine repayment options with your lender. Parents must apply for this loan at studentloans.gov. A separate Master Promissory Note must be completed for Federal PLUS Loans.

PRIVATE ALTERNATIVE LOANS

Private Alternative Loans are loans for students who have exhausted or do not qualify for federal financial aid. A credit check will be required and terms and rates vary by lender and are based on the creditworthiness of the applicant and co-signer. Loan amounts cannot exceed cost of attendance. While we work with any lending institution, a list of lenders may be found here.

PERKINS LOANS

Perkins Loans are low-interest loans awarded to students with exceptional financial need. Principal and interest are deferred until nine months after graduation, with a fixed 5% interest rate. Perkins Loans require a specific type of Entrance Counseling and Master Promissory Note.

P.E.O. EDUCATIONAL LOAN FUNDS

P.E.O. Educational Loan Fundsare loans offered at 2% to female students who graduated from a Haywood or Jackson Co., NC high school and are within two years of graduating from an accredited school with either a Bachelor’s, Master’s or Doctoral degree. More information on the loan requirements can be found at www.peointernational.org/elf-eligibility-requirements or by contacting Marilyn Webb at 828.400.0009 or webbmj@bellsouth.net

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