Other Financial Aid Options

In addition to the many aid options that are provided by JCSU, students and their families also have several options on how to finance higher education.

Here are some popular options:

Pell Grant

The Pell Grant is a federal entitlement program that provides funds to students pursuing a first undergraduate degree. To be eligible for the Pell Grant, the student must have an eligible Pell Grant Index (PGI) or Estimated Family Contribution (EFC).

Supplemental Educational Opportunity Grant (SEOG)

The Supplemental Educational Opportunity Grant (SEOG) is a federal program for undergraduate students who demonstrate financial need. These funds are administered on a first-come, need basis. The grant can range from $100-$1,500 per academic year. The deadline for Pell-eligible students to be considered for this grant is March 1.

United Negro College Fund Scholarships (UNCF)

Several UNCF scholarships are available to students. Students may find additional scholarships at www.UNCF.org. All applications require at least one letter of recommendation and an essay.

Federal Work-Study

The Federal Work-Study program provides part-time employment to eligible students who are enrolled at Johnson C. Smith University. Students earn at least minimum wage for the actual hours worked. Earnings are limited to the amount indicated on the student’s award letter. Students are employed on campus by a variety of departments and offices, with the typical student working approximately 10-15 hours per week, not to exceed 40 hours a month, while classes are in session. Students participating in this program must be full-time.

Parent Loans for Undergraduate Students (PLUS)

The PLUS program is a non-need-based loan that is available to parents who may borrow up to, but my not exceed, the cost of attendance per year for each dependent undergraduate student, minus other financial aid. These funds may be borrowed in addition to funds borrowed under the student loan program. Parents begin repaying the loan within 60 days after the second disbursement of funds for a particular academic year.

Academic Competitiveness Grants (ACG)

Academic Competitiveness Grants are awarded to students who completed a rigorous high school program of study before enrolling in college. Eligible students receive up to $750 in their first year of college and $1,300 for the second year if they also maintain a 3.0 grade point average in college. This grant is awarded to students over and above any other grants or scholarships. This program is different from other need-based grant programs because students must demonstrate completion of a rigorous course curriculum in high school.

William D. Ford Federal Direct Loan (Direct Loan) Stafford Student Loan Program

Direct Federal Stafford Student Loans are provided by the United States government directly to students. All Stafford Loans are either subsidized (the government pays the interest while you're in school) or unsubsidized (you pay all the interest, although you can have the payments deferred until after graduation).

To receive a subsidized Stafford Loan, you must be able to demonstrate financial need. With the unsubsidized Stafford Loan, you can defer the payments until after graduation by capitalizing the interest. This adds the interest payments to the loan balance, increasing the size and cost of the loan. Repayment begins six months after the student graduates or drops below half-time enrollment. The standard repayment term is 10 years, although one can get access to alternate repayment terms (extended, graduated and income contingent repayment) by consolidating the loans.

Federal Perkins Loans

A Federal Perkins Loan is a low-interest (5%) loan for both undergraduate and graduate students with financial need and is administered by Johnson C. Smith University. These loans are available to full-time undergraduate students and are dependent upon the extent of the student’s need and the availability of funds. The student may borrow $4,000 for each year of undergraduate study (the total amount you can borrow as an undergraduate is $20,000). The financial aid office reserves the right to adjust or cancel this aid element based on new information received. The Perkins Loan is also reserved for direct cost, and refunds cannot be generated from this federal aid element.

The Alternative Loan

The Alterative Loan is another source of funding for dependent students whose parent(s) may not be eligible for the Plus Loan or for independent students who have no other form of support for additional funding. These are called alternative because students borrow from sources outside the college and the United States Department of Education. These loans are based on a credit approval and begin repayment six months after the student leaves the university. The student, who must be at least half-time and in a degree-seeking program, can borrow up to, but not exceeding, the cost of attendance minus other financial aid. The interest rates vary based on the prime rate and additional lender-based criteria.

Charlotte Incentive Grant Award (CIGA)

CIGA is granted to students who graduated from a Charlotte Mecklenburg County High School with a 2.5 minimum GPA. The university registrar’s office will approve the amount. In some instances, Central Piedmont Community College transfers are eligible for this grant. If a student’s direct cost is covered by an internal/external scholarship, no CIGA scholarship will be given.

Science and Mathematics Access to Retain Talent Grant (SMART)

The U.S. Department of Education offers SMART grants to Pell-eligible students enrolled in the third and fourth years of bachelor's degree programs who are pursuing majors in mathematics, science, technology, engineering or a critical foreign language. Eligible students receive $4,000 per year. SMART grants do not count against other state or federal grants for which students are eligible. The SMART grant was created to encourage more students to pursue degrees in high-demand areas.

Teacher Education Assistance for College and Higher Education Grant (TEACH)

Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program. It provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families.

North Carolina Education Lottery Scholarship (LOTTERY)

North Carolina Education Lottery Scholarship (ELS) was created by the 2005 General Assembly to provide financial assistance to needy North Carolina resident students attending eligible colleges and universities located within the state of North Carolina. The value per grant will vary according to information that is generated from FAFSA. Scholarships will range from $100 to $2,500 for the year. Grants and scholarships are awarded based on information students provide on their FAFSA form.

North Carolina Legislative Grant (NCLTG)

The state of North Carolina appropriates a grant each year that assists residents of North Carolina. This grant is awarded based on the student’s completing an application for NCLTG and enrolling in the institution as a full-time student by October 1 for the fall semester or 10th classroom day in the spring semester. This entitlement grant is funded by the state legislature.

North Carolina Earn Grant (EARN)

EARN was established by the 2007 North Carolina General Assembly to provide grants to eligible residents to enable them to obtain an education beyond high school without incurring student loans during the first two years of their postsecondary education. The maximum grant for which a student is eligible is $4,000 per academic year. The EARN grant, plus other financial aid, cannot exceed the cost of attendance established by each college or university. The grant is awarded based on information students provide on their FAFSA.

North Carolina Contractual Grant (NCCG)

The state of North Carolina appropriates funds to be administered through Johnson C. Smith University to provide aid to North Carolina residents with substantial need. The amount cannot exceed tuition and varies according to demonstrated need. Such funds are awarded through the Office of Financial Aid and are distributed based on the availability of funds. The funds are also prorated for students who are less than full-time.

North Carolina State Incentive Grant (NCSIG)

Full-time students who are legal residents of North Carolina may apply for this grant. Funds are awarded, in amounts up to $700 per year, to students who demonstrate full Pell eligibility. The program is funded by the state of North Carolina and administered through the College Foundation, Inc., in Raleigh. Students may apply by completion of their FAFSA before February 1. The College Foundation will notify the Office of Financial Aid of eligible students and the amount of the grant. A check is forwarded to the institution for each student.

DC College Access Program (DC-CAP)

The DC-CAP program provides college "last dollar" award scholarships of up to $2,000 per year (up to five years), to District of Columbia public high school students to help make up the difference between a student's resources, financial aid and actual college expenses.

DC Leverage Education Assistance Program (DC-LEAP)

DCLEAP provides need-based, undergraduate study grants of up to $1,000 per year. These grants can be used at any postsecondary institution in the country. DCLEAP awards must be reapplied for each year.

D.C. Tuition Assistance Grant (DC-TAG)

DC-TAG provides up to $2,500 per year for five years. These funds assist with the financial difference between in-state and out-of-state tuition at participating public colleges throughout the United States. The student must be a District of Columbia resident and have completed DC-ONE APPLICATION.

D.C. Adoption Scholarship (ADOPTION)

DCAS assists District of Columbia students who were adopted from the D.C. Child & Family Services agency after October 1, 2001, as well as students who lost one or both parents as a result of the events of September 11, 2001. DCAS awards up to $10,000 toward the total cost of attendance at eligible colleges and universities. DCAS is neither need- nor merit-based. DCAS is a scholarship in which the award calculation is based on outstanding financial need, after the deduction of other forms of student aid from the college or university's cost of attendance.

Pennsylvania Higher Education Access Grant (PHEAA)

This program provides need-based state grant assistance of up to $3,900 per year. The PHEAA grant program is funded by the state of Pennsylvania and is administered by the Pennsylvania Higher Education Assistance Agency (PHEAA). Students receive up to eight full-time semesters of PHEAA grant assistance or 16 semesters of part-time assistance.