You may be eligible for a Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Academic Competitiveness Grant (ACG), National Science and Mathematics Access to Retain Talent Grant (National SMART), North Carolina Lottery Scholarship (ELS) and North Carolina System Need-Based Grant (UNC Need-Based Grant) or North Carolina Student Incentive Grant (NCSIG). For more information about these grants, read the US Department of Education's Student Guide or visit the CFNC.org web site. For more information, contact the Office of Scholarships & Financial Aid.
The largest source of scholarships at UNCW are institutional merit scholarships. Institutional merit scholarships are generally awarded based on stated criteria such as a high grade-point average, SAT or ACT score, or exceptional talent. Other institutional scholarships are awarded based on affiliation with a certain group such as a sorority or fraternity, interest in a specific subject area like math or science, etc. Need-based scholarships and grants are awarded based upon a student's financial need. Some scholarships are awarded based on both merit and financial need. Primarily, there are five areas of scholarship awards, i.e., Athletic Scholarships/Grants-In-Aid, Honors Program, Diversity Scholarships, Named Scholarships, and scholarships administered by the various academic departments. To apply for Named Scholarships, please visit our Scholarship Application on the Web. Further questions should be referred to the UNCW entity which administers the scholarship awards:
- Athletic Scholarships: Recipients of athletic scholarships are determined by the UNCW Athletic Department. Contact the appropriate coach or the Athletic Department for further information.
- Honors Program Scholarships: After review of all incoming student applications, UNCW's Office of Admissions submits its recommendations to the Honors Program. From this list of names, the Honors Program chooses those students who will be offered UNCW Honors Scholarships.
- Diversity Scholarships: Students from under-represented cultural populations will automatically be considered for this award by the UNCW Admissions Office.
- Named Scholarships: UNCW has a limited number of scholarships that have been generously donated in honor of individuals and organizations. Each of these scholarships has specific and unique criteria. While some are available each year to one or more students, many only become available every four years, once the current recipient has graduated. For more information you may contact the Financial Aid & Veterans Services Office in King Hall and review the UNCW Undergraduate Catalogue and Graduate Catalogue. Students who believe they meet minimum eligibility requirements for specific named scholarships are advised to complete the web-based application that is available November 15 through April 1.
- Departmental Scholarships: These scholarships for specific majors are typically awarded during spring semester to currently enrolled students for the upcoming academic year. Contact your academic department directly for application instructions.
Many UNCW students receive outside scholarships from private foundations, civic organizations, church groups, etc., within their own home communities. We encourage you to check with your high school, local civic organizations and religious institutions to see what scholarships are available. You may also want to perform a scholarship search using BrokeScholar, a free scholarship search database. Application for scholarships identified through BrokeScholar will be more competitive, since many of these scholarships are available on a state or national level.
At UNCW, we offer both the Federal Work-Study Program and a Work-Assist Work Program for those students who would like to work while enrolled in school. Research shows that students who work while attending college generally have higher grades, graduate faster and find jobs more easily after graduation. For these reasons and the financial benefits, we encourage you to consider employment as an option for financing your education. UNCW also has a strong community service program that enables students to work with off-campus agencies, while receiving Federal Work-Study funds. Federal Work-Study is a financial aid award that allows students to accept jobs that work around their class schedules. Earnings are not applied to students' accounts. Students receive a paycheck the 15th of each month for the hours they worked the previous month. The monies may be used for incidental expenditures or saved for future college costs. Students may not earn more than the amount of their work-study award. For more information on the Federal Work-Study Program, read the US Department of Education's Student Guide. UNCW is also committed to the America Reads/America Counts Program and offers students paid opportunities to tutor elementary and middle school children in reading and math.
FWS is a need-based, federally funded program and not all students will qualify. Many departments hire students under the work assist program and financial need is not a consideration. For more information on work assist positions, contact the Office of Career Services.
There are several loan options available to assist you in financing your education including Federal Perkins Loan, Federal Stafford Loans, and Federal Parent Loans for Undergraduate Students (PLUS).
Federal Stafford loans are student loans borrowed through either the William D. Ford Federal Direct Student Loan Program (Direct) or the Federal Family Education Loan Program (FFELP). The lender of Direct Loans is the U.S. Department of Education and the lender for the FFELP program may be any other lending institution. Stafford loans are awarded to the student and are the responsibility of the student to repay. There are two types of Stafford Loans, Subsidized and Unsubsidized. Students must be enrolled at least half time to be eligible.
A Subsidized loan is a loan in which the federal government subsidizes (pays) the interest for the borrower during the time that the student is enrolled in classes at least half-time and seeking a degree. Subsidized loans are “need based” which means the student must demonstrate need by completing the FAFSA and the results must indicate the student has “need.” If that “need” is not met by scholarships and grants, the remainder may be met with a Subsidized Loan. There is a cap on how much in Subsidized Loans a student may borrow each year based upon their academic level. An origination fee is assessed by the federal government at the time of disbursement however some lenders pay this fee on behalf of the student.
An Unsubsidized loan is also available to students, however, the government does not subsidize the interest for the student at any time. The Unsubsidized loan is not “need based,” which means the student does not have to have any remaining “need.” The student must apply with the FAFSA, be enrolled in classes at least half time and be degree-seeking. An Unsubsidized loan may be borrowed to attain the reminder of the initial eligible loan amount not met by the Subsidized Loan. In some cases a student may borrow an additional Unsubsidized Loan when the student is independent or if a dependent student’s parents are denied a PLUS loan.
Students are awarded Stafford Loans each year they complete the FAFSA and are determined to be eligible. Students may accept a partial loan amount, in writing, by making changes to the Award Letter or contacting their financial aid counselor.
To complete the loan application process, the student must select a lender to process the Stafford Loan. Review the lender information and follow the application process established by the lender including completing the Master Promissory Note (MPN). The MPN needs to be signed only once with the respective lender. If the borrower changes lenders, another MPN will be required with the new lender. This is the case if a returning student with prior Direct Loans chooses a lender other than the Direct Loan Program.
UNCW reviewed many lenders and listed the ones who appear to offer the best service and borrower benefits. You have the right to select a lender not listed, but UNCW encourages you to thoroughly review the terms of another lender to ensure you are aware of any and all fees and rates associated with the loans.
If you select a lender other that the Direct Loan program, UNCW receives notification and adjusts the Direct Loan initially awarded to you to a FFELP loan. Before your loan is finalized, you must accept your Stafford Loan on your financial aid award via SEANET. If you remain with the Direct Loan Program, you must accept your Direct Loan. If you select any other lender, you must wait to accept your loan until the award has been converted to a FFELP loan.
Federal regulations require all Stafford Loan borrowers to complete entrance interviews to ensure that all borrowers understand the rights and responsibilities associated with borrowing the student loan. The appropriate entrance interview MUST be completed before the loan process is finalized and loan funds are available to disburse to your student account.
Direct Loan Borrowers Entrance Interview Requirement
FFELP Loan Borrowers Entrance Interview Requirement
Loan Limits:
Academic Level |
Initial Annual Loan Eligibility |
Additional Unsubsidized Loan Eligibility (for Independent students or Dependent students whose parents are denied the Parent PLUS loan) |
Undergraduate Students |
||
Freshman |
$3,500 |
$4,000 |
Sophomore |
$4,500 |
$4,000 |
Junior |
$5,500 |
$5,000 |
Senior |
$5,500 |
$5,000 |
Maximum Total Aggregate as Undergraduate Student |
$23,000 |
$46,000 |
Graduate/Professional Students |
$8,500 |
$12,000 |
Maximum Aggregate for Undergraduate and Graduate combined (entire academic career) |
$65,500 |
$138,000 |
Federal Parent Loans for Undergraduate Students (Parent PLUS)
Plus loans are offered to parents to assist with their student’s costs when the student does not have enough other types of financial aid to meet the university’s cost of attendance.
PLUS loans are unsubsidized which means that interest accrues while the student is in school. The PLUS loan begins repayment 60 days after the last disbursement of loan funds is made each year (the award is normally for two semesters, half the amount of the loan is disbursed in fall and the other half in spring). An origination fee is assessed by the federal government at the time of disbursement.
If a dependent student’s cost of attendance cannot be met with other awards, the parent is eligible to apply for a PLUS loan. Students must be enrolled at least half-time to be eligible for a PLUS loan.
UNCW has compiled a list of lenders from which you may have your loan processed. These lenders are recommended based on the quality of products and services they provide to UNCW students and families. We have carefully considered these lenders in order to provide you the best possible benefits and servicing options. If you wish to use another lender that is not on this list, you have the right to do so. Once you have reviewed this information and selected your lender, follow these steps to complete these PLUS loan process.
The PLUS loan application process consists of:
- PLUS Master Promissory Note (MPN): The parent borrower must complete the PLUS MPN with the chosen lender. This is a legally binding form that is an agreement between the borrower and the lender. The PLUS MPN is valid for all PLUS loans borrowed through one lender for one student for a period of 10 years. To complete the PLUS MPN, select your lender in the Parent PLUS section and follow the “Apply Now” process set up by your lender. If you prefer a paper copy of the MPN, contact your lender.
- PLUS Application: A PLUS Loan Application form must be submitted. This form gives the Financial Aid Office the information it needs to submit the application to the lender. On this form you identify your lender and indicate the requested loan amount. Be sure the lender you select on the PLUS Application is the same as the lender selected when you completed the MPN. Also list the same parent borrower here.
- Credit Check: The lender performs a credit check on the parent borrower. If credit is approved, the application process continues and UNCW certifies the loan. If credit is denied, the parent borrower has the option to appeal the decision or attain an endorser. If the parent borrower does not wish to appeal or secure an endorser for the loan, the student is eligible for an additional unsubsidized loan. The parent borrower and/or student must complete the PLUS Loan Origination Rejection Form to notify UNCW of the family’s intentions regarding the loan process should the credit decision be a denial. Additional unsubsidized loan limits for students whose parent loans have been denied are $4,000 for freshman and sophomores and $5,000 for juniors and seniors.
Monthly Payments
All loans have one common factor which distinguishes them from the other forms of aid; they must be repaid. To determine your monthly payments considering various circumstances, we suggest you use a Monthly Repayment Calculator. We encourage students and parents to make informed decisions about borrowing – having an estimate of what your payments will be should help in budgeting for loan payments.
Reporting to Credit Bureaus
Federal law requires lenders to report loan information and the subsequent monthly payment information to credit bureaus. There has been some concern about what a credit bureau can do with a borrower’s information. A borrower has the right to prohibit a credit bureau from using information in the borrower’s credit record in connection with any credit or insurance transaction not initiated by the borrower. The borrower may exercise this right by calling 888-567-8688, option 2.
North Carolina Student Loan Program for Health, Science and Mathematics
Every year the State of North Carolina awards some students Loans for Health, Science and Mathematics. This includes students in the nursing program. Applications may be obtained from the School of Nursing, the Office of Scholarships and Financial Aid, or by calling the NCSEAA at 1-800-700-1775, option 1. Applications are due by June 1.
