Financial Aid Options
In addition to the many aid options provided by JCSU, students and their families also have several options on how to finance higher education.
Other Options
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The Pell Grant is a federal entitlement program that provides funds to students pursuing their first undergraduate degree. To be eligible for the Pell Grant, the student must have an eligible Estimated Family Contribution (EFC).
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-$4,000 per academic year. The deadline for Pell-eligible students to be considered for this grant is March 1.
Several UNCF scholarships are available to students.
The Federal Work-Study program provides part-time employment to eligible students who are enrolled at Johnson C. Smith University. Students earn at least the 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 80 hours a month, while classes are in session.
Parent Loans for Undergraduate Students (PLUS) program is a non-need-based loan that is available to parents who may borrow up to, but may 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 unless a deferment is granted.
William D. Ford Federal Direct Loan Student Loans are provided by the United States government directly to students. All Federal Direct Loans are either subsidized (the government pays the interest while you're in school) or unsubsidized (you pay all the interest, although you can defer the payments until after graduation). To receive a Direct Subsidized Loan, you must be able to demonstrate financial need. With the Direct Unsubsidized Loan, you can defer the payments until after graduation by capitalizing the interest. This adds 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 ten years, although one can access alternate repayment terms (extended, graduated and income-contingent repayment) by consolidating the loans.
The Alternative 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 alternatives because students borrow from sources outside the college and the United States Department of Education. These loans are based on 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 exceed, the cost of attendance minus other financial aid. The interest rates vary based on the prime rate and additional lender-based criteria.
The NC Need-Based Scholarship was created by the 2011 North Carolina General Assembly. This is a need-based program for North Carolina residents attending private institutions of higher education located in North Carolina. Students must be a NC resident as defined by NC Residency Manual, enrolled as undergraduate in a least 9 credit hours, demonstrate a certain level of financial need, and meet requirements for the Federal Pell Grant (except the EFC range used for Federal Pell Grant awards). The amount awarded can be up to $8,240.
The D.C. College Access Program (DC-CAP) 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.
D.C. Tuition Assistance Grant (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 private colleges throughout the United States. The student must be a District of Columbia resident and have completed DC-ONE APPLICATION.
