Types of Aid

When students apply for financial aid through FAFSA, they receive an aid offer (or "package") that includes a combination of these types of aid, based on their financial need and eligibility. Students may earn more than one type of financial aid.

Grants

Federal
Federal Grants, with the exception of TEACH, are awarded to students demonstrating significant financial need as determined by the FAFSA.   TEACH is not a need-based grant and could require repayment if the recipient does not fulfill the service agreement.

​Completion of the FAFSA is required for grant funding. Grant funding does not have to be repaid, however, the availability of grant funding can be limited. Completing the FAFSA by March 1 will ensure the maximum financial aid award.

State
State grants are awarded to North Carolina residents based on funding availability and need.  Recipients are determined by the state of North Carolina and must be seeking their first undergraduate degree.  Restrictions regarding credit hours and semesters completed may apply.  For more information, please visit www.cfnc.org.

Institutional
Students that apply for financial aid by the established priority date of March 1 are considered for institutional need-based awards provided funding is available.

 


Scholarships

Scholarships can be merit-based, need-based, or both; often they require an application or nomination. Scholarships do not have to be repaid. 


Loans

Loans are funds that students borrow from the federal government or other lenders and that must be repaid when students are out of school. Repayment begins six months after students graduate, withdraw, or drop below full-time. We recommend that students borrow only what they need.


Federal Work-Study

Federal Work-Study is a work program through which students earn money to help them pay for school. Since Federal Work-Study funding is limited, it is not included in all student awards. Priority is given to students with higher calculated financial eligibility who indicate on the FAFSA that they are interested in student employment.  Students can work a maximum of 20 hours per week.