- Admissions & Aid
- Financial Aid
- Types of Aid
- Grants and Loans
Grants and Loans
Eligibility for both grants and loans require that you complete your Free Application for Federal Student Aid (FAFSA).
Grants
A grant is gift aid that is awarded based on financial need and that does not have to be 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 these grants.
The following is a list of available grants:
When we review your financial application, we start by determining whether you will receive a federal Pell Grant. Eligibility is determined by the FAFSA. The amount granted through the Pell Grant program is established by the U.S. Department of Education.
If you receive a Pell Grant, still have financial need, and are enrolled full-time, you may qualify for an FSEOG Grant. Federal guidelines and institutional policies determine the amount of this grant. Funds are limited, so apply as early as possible each year.
The state of North Carolina sponsors this need-based scholarship, which is awarded to North Carolina residents with financial need who are enrolled in at least six credit hours at one of the 16 institutions of The University of North Carolina. Funds are limited, so apply early.
At WCU, we provide a need-based grant up to $1000 to help offset the cost of tuition for continuing students who demonstrate financial need. The WCU Grant is awarded based on eligibility, as determined by FAFSA. Funding is limited, so make sure to file your FAFSA early annually.
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 are loans for students with financial need, as determined by federal regulations and the FAFSA. No interest is charged while the student is enrolled at least half-time. Repayment will begin six months after graduation. Loan 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 are student loans not based on financial need. Interest charges begin at disbursement. Repayment will begin six months after graduation. Loan Entrance Counseling and a Master Promissory Note must be completed prior to the first loan disbursement.
(Excluding Students Whose Parents Cannot Borrow Parent PLUS)
| Class Standing | Base Amount | Additional Unsubsidized | Total |
|---|---|---|---|
| Freshman less than 30 Credits |
$3,500 | $2,000 | $5,500 |
| Sophomore 30-59 credits |
$4,500 | $2,000 | $6,500 |
| Junior 60-89 credits |
$5,500 | $2,000 | $7,500 |
| Senior 90 or more credits |
$5,500 | $2,000 | $7,500 |
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, student identification number, and proxy passphrase with your loan increase request.
(Including Students Whose Parents Cannot Borrow Parent PLUS)
| Class Standing | Base Amount | Additional Unsubsidized | Total |
|---|---|---|---|
| Freshman less than 30 credits |
$3,500 | $6,000 | $9,500 |
| Sophomore 30-59 credits |
$4,500 | $6,000 | $10,500 |
| Junior 60-89 credits |
$5,500 | $7,000 | $12,500 |
| Senior 90 or more credits |
$5,500 | $7,000 | $12,500 |
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, student identification number, and proxy passphrase with your loan increase request.
Total Unsubsidized Loan
$20,500
Federal Direct Unsubsidized Loans are student loans not based on financial need. Interest charges begin at disbursement. Repayment will begin six months after graduation. Loan Entrance Counseling and a Master Promissory Note must be completed prior to the first loan disbursement.
| Student Level & Dependency Status |
Max Subsidized & Unsubsidized | Max Subsidized |
|---|---|---|
| Dependent Undergraduate | $31,000 | $23,000 |
| Independent Undergraduate | $57,500 | $23,000 |
| Graduate/Professional | $138,500 | $65,500 |
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. Apply for this loan at studentaid.gov. A separate Master Promissory Note must be completed for Federal PLUS 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. 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, lender options vary.
Applicants can obtain a copy of the Self-Certification Form for the private educational loan lender they plan to utilize and can submit the form to the Financial Aid Office for completion or confirmation.
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.
