Sources of Aid
GRANTS:
A grant is "gift aid", an award that you do not have to repay.
A Federal Pell Grant is an entitlement program that is based on financial need. The amount of your Pell Grant is determined by the Federal government based on the cost of enrollment at GWU and the information you provided on your FAFSA. To receive the Pell grant listed on your award letter, you must be enrolled full-time (at least 12 hours) for each term shown. If you enroll less than full time your grant will be reduced or eliminated. Pell grants are usually prorated as follows:
9-11 hours = 75%
6-8 hours = 50%
1-5 hours = 25%
In some cases your Pell grant may be eliminated if you are enrolled less than six (6) hours. Check with the financial planning office before you change your hours if you have any questions.
The Federal Supplemental Educational Opportunity Grant (SEOG) is a grant program based on students with exceptional need. In order to qualify for this program students must be eligible for a Pell Grant, apply very early, and meet certain other requirements in order to be considered. Priority is given to full time students.
The Federal Academic Competitiveness Grant (ACG) is based on several specific criteria which include the following: U.S. citizen; Pell eligible; enrolled full time in a degree program as a first-year student; completed a rigorous secondary school program. The award amount is $750 for the first year and is renewable ($1,300 per year) for the second year if the student earns a 3.0 cumulative grade point average (GPA) at the end of the first academic year.
The Science & Mathematics Access to Retain Talent Grant (SMART) is based on the following: U.S. citizen, Pell eligible, enrolled full time majoring in physical, life or computer sciences, mathematics, technology or engineering or in a foreign language determined critical to national security. The student must maintain a cumulative GPA of at least 3.0. The award will provide up to $4,000 per year for the third and fourth year of undergraduate study.
The North Carolina Education Lottery Scholarship (ELS) is a grant program created by the state legislature for students with an Expected Family Contribution (EFC) of $5000 or less. The EFC is determined by the results of the Free Application for Federal Student Aid (FAFSA) revenues. The maximum award for 2009-10 is $2500 in combination with the Pell Grant.
The North Carolina Legislative Tuition Grant (NCLTG) is a state entitlement for permanent residents of North Carolina offered by the state legislature to all students attending a private four-year institution in this state. To qualify you must complete the NCLTG application and be a full-time (12 hours) student. Your award will be decreased if you have earned over 140 hours in your degree program. You must also be working on your first undergraduate degree to qualify for NCLTG. If you drop below twelve (12) hours before the state deadline, your grant will be eliminated. Please contact Financial Planning with any questions.
The State Student Incentive Grant (SSIG) is awarded to students with exceptional need, where family contribution is zero. These funds are awarded by North Carolina; priority is given to students who complete their FAFSA early - March 15 deadline.
The North Carolina State Contractual Scholarship Fund (SCSF) is sometimes available to students who are a legal resident of North Carolina and have demonstrated financial need. You must be a degree-seeking student and be making satisfactory academic progress. The award amounts vary depending upon the student's need and availability of funds. Priority is given to full time students.
Gardner-Webb Grant is an institutional source offered to students.
WORK STUDY:
The Federal Work Study Program provides students with part-time employment. Eligibility for this program depends on financial need and the availability of funds. Students earn minimum wage and are paid monthly for the number of hours they worked. Work schedules and positions are determined each term between the student and the supervisor and should never conflict with class schedules. Students are given an award which equates to 10 hours of work per week (Resident Advisors are not awarded work study.)
The Gardner-Webb Work Program (GWWP) utilizes a portion of its institutional funds to provide employment opportunities on campus. The Gardner-Webb Work Program is administered like the Federal Work Study Program.
LOANS:
Student loan programs offer long-term low interest loans. You must repay these awards. You must be enrolled at least half-time (6 undergraduate hours) each semester to qualify for student loans. Repayment for Stafford Loans begins six months after you graduate, withdraw, or drop below half time.
First-time Stafford Loan Recipients at Gardner-Webb must complete "Entrance Counseling" before funds are disbursed. Recipients must also complete a Master Promissory Note. (You can do this online with most lenders.) Please refer to the loan section on our web page.
The Federal Subsidized Stafford Loan is based on financial need as well as annual and aggregate (overall) loan limits. Funds from this loan are disbursed each term according to your award notification and promissory note requirements. Interest on this loan does not accrue during eligible periods of enrollment and certain grace periods. Yearly loan amounts range from $3500 for first year students, $4500 for second year students, and $5500 for third and fourth year students.
The Federal Unsubsidized Stafford Loan is based on the cost of education as well as annual and aggregate (overall) loan limits. Funds from this loan are disbursed each term according to your award notification and promissory note requirements. Interest on this loan begins to accrue as soon as you receive it. It is possible to receive both subsidized and unsubsidized loans in the same period.
The Federal Perkins Loan is available to students with exceptional need. Repayment for this loan begins nine months after graduation or after you cease to be enrolled at least half-time (6 hours). The loan has an interest rate of 5%. Award amounts range from $1,000 - $2,000 depending upon the availability of funds. Priority is given to full time residential students.
The Federal Parent Loan for Undergraduate Students (PLUS) is available to parents of dependent undergraduate students. Parents may borrow up to the cost of attendance minus all other financial aid. The repayment period begins within one or two months after the loan is fully disbursed. If this loan is denied for credit reasons the student may be eligible for additional unsubsidized loan funds. We are happy to provide you with a list of recommended lenders and more PLUS loan information on our site.