Types of Financial Aid

Financial Aid is money provided to students to help them afford College.

Most aid fits into three categories:

Grants and Scholarships, which usually do not have to be repaid
Loans, which have to be repaid
Student Employment, a part-time job, usually on campus

Most, but not all, aid is based on demonstrated financial need, and for the most part college financial aid is provided by federal and state tax payers.

Grants

Federal Pell Grant - up to $5550 (for the 2010-11 year) per year based on degree of need and number of credit hours enrolled

Chart to calculate 2010-11 PELL grant award based on enrollment

12 or more credit hours is full time
9-11 hours is 3/4 time
6-8 hours is 1/2 time
1-5 hours is 1/4 time

North Central State Incentive Grant - take one course at your expense, and NC State will provide one course at our expense.

Completion of the New Student Incentive Grant application does not guarantee eligibility for the New Student Incentive Grant. If you meet all eligibility requirements, the grant will be awarded to you at the end of the third week of the term. Please note this grant is only good for your first quarter at NC State.

Ohio College Opportunity Grant - no longer available for community college students

Scholarships

NC State Scholarships for Graduating High School Students - provided by the College; up to the full tuition cost of an associate's degree; awards based on academic achievement; applications available from high school guidance counselors (application deadline has passed for the 2010-11 school year)

NC State Scholarships for Currently Enrolled Students - provided by the College and by donations to the College's Foundation; up to $600 per year; awards based on academic achievement and field of study; applications available in the Financial Aid Office beginning May 1

Outside Scholarships - provided by professional, fraternal, and civic organizations; announcements of availability are made on our website; students are also encouraged to contact possible scholarship providers directly to inquire about availability, eligibility requirements, and application procedures regarding the scholarships they provide

Loans

Federal Direct Loans

Loans made to STUDENTS
Provided by the Federal Government and governed by their rules
Repayment begins six months after last date of at least half-time enrollment

Federal Direct PLUS loans

Loans made to PARENTS of students
Repayment begins as soon as funds are disbursed

Alternative Loans

Private loans made to STUDENTS
NOT subject to government rules
May require credit check and co-signer

Federal Work Study

Federal Work-Study - must have unmet financial need and at least half-time enrollment; application form available in the Financial Aid Office; proof of citizenship required.