Other Types of Aid
State Grants
A grant is a monetary stipend awarded to students who can meet the requirements
- NC resident for the past 12 months
- Pay NC taxes
- Vote in NC elections
- Be enrolled full time during eligibility dates
Pell Grants
Grant determined by the Department of Education using the information from the Free Application for Federal Student Aid to meet need.
Supplemental Educational Opportunity Grant
Federal grant that may be awarded to Pell recipients to help meet need. Limited amount available.
Stafford Loans
The Federal Stafford Loan is available to undergraduate and graduate students who need assistance in paying for college. You award letter will provide the maximum eligibility and amount you may borrow. The loan may be subsidized or unsubsidized or a combination depending on your financial need.
Subsidized Stafford Loan – The interest on this loan is paid by the federal government while you are in school.
Unsubsidized Stafford Loan – You are responsible for paying the interest while you are in school. The interest rate as of December 2005 is 2.77%. Contact the Citibank website for additional information at www.studentloan.com.
Scholarships
Scholarships are available in a wide variety of forms. They may be based on need, ability, grades, profession, heritage, etc. Every scholarship has unique conditions as to who may apply and/or the eligibility criteria. Additional scholarship information may be found by visiting one of the websites listed below.
www.fastweb.com
www.collegeboard.com
www.collegenet.com
Private Loans
Private Loans (or alternative loans) are offered by private lenders and do not involve any federal forms. There loans are frequently utilized when federal loans do not provide the necessary level of funding. For more information on private loans please contact the financial aid office at ckirkland@montreat.edu.