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.

Annual Borrowing Limits for dependent students

(Excluding Students Whose Parents Cannot Borrow Parent PLUS)

Class Standing              Base Amount              Additional Unsubsidized                         Total


Freshman                           $3,500                                   $2,000                                               $5,500

less than 30 credits


Sophomore                        $4,500                                   $2,000                                               $6,500

30-59 credits


Junior                                 $5,500                                   $2,000                                               $7,500

60-89 credits


Senior                                 $5,500                                   $2,000                                               $7,500

90 or more credits      


If you have determined that you are eligible for additional loans based on a grade level increase you may send a formal request via email to our office. Please include your name and 920 student ID number with your loan increase request.

Annual Borrowing Limits for independent students

(Including Students Whose Parents Cannot Borrow Parent PLUS)

Class Standing              Base Amount              Additional Unsubsidized                          Total


Freshman                           $3,500                                   $6,000                                               $9,500

less than 30 credits


Sophomore                        $4,500                                   $6,000                                               $10,500

30-59 credits


Junior                                 $5,500                                   $7,000                                               $12,500

60-89 credits


Senior                                 $5,500                                   $7,000                                               $12,500

90 or more credits      


If you have determined that you are eligible for additional loans based on a grade level increase you may send a formal request via email to our office. Please include your name and 920 student ID number with your loan increase request.  

Annual Borrowing Limit for Graduate Students

Total Unsubsidized Loan              $20,500

lifetime federal subsidized and unsubsidized borrowing limits

 Student Level &                                     Max Subsidized & Unsubsidized                                 Max Subsidized

Dependency Status                                    


 Dependent Undergraduate                                   $31,000                                                                    $23,000

 


Independent Undergraduate                                 $57,500                                                                     $23,000

 


 Graduate/Professional                                          $138,500                                                                  $65,500

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

Office of Web Services