Need-Based Assistance is based on a valid need analysis (the FAFSA) and may be given by the College and/or through Federal and State programs. This type of assistance is determined by the difference between the cost of attending college and the financial ability of the student and the parents to contribute to the educational costs.

To receive need-based financial assistance at Catawba College, you must be accepted at Catawba College and continue full time to make satisfactory academic progress toward a degree and you must show demonstrated financial need through the Free Application for Federal Student Aid (FAFSA). State and Institutional grants include the North Carolina Contractual Grant and the Catawba Grant, respectively; and, Federal programs available through the college are:

• Federal Perkins Loan
• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant
• Federal Work-Study
• Federal Stafford Loan
• Academic Competitiveness Grant (ACG)
• National Science and Mathematics Access to Retain Talent Grant (SMART)

federal programs

Federal Perkins Loan: Low interest rate (5%) loan for students with financial need. The loan is made with government funds with a share contributed by the College. The government pays the interest while you are in school as a half-time to full-time student. You must begin repaying this loan nine months after graduation or when attendance drops to less than half-time. Depending on when you apply, your level of need, and the funding level, you can borrow up to $4,000 for each year of undergraduate study. The total amount you can borrow as an undergraduate is $20,000. This loan is limited and is awarded on first come, first served basis.

Federal Pell Grant: For students with significant financial need. The amount of this grant varies (i.e. the amounts ranged from $400 to $4310 for the 2007-2008 academic year).

Federal Supplemental Educational Opportunity Grant (SEOG): For students with significant financial need in combination with the Federal Pell Grant. The annual amount of this award varies.

Academic Competitiveness Grant (ACG)
The ACG awards grants to eligible financially needy students who complete a rigorous secondary school program of study. An ACG is available during a student's first and second academic years of undergraduate education in an eligible undergraduate program. (The first year value is $750, and the second year is $1300.) Applicants must: 1) Be a U.S. citizen; 2) Be enrolled full-time; 3) Be Pell eligible, awards are in addition to Pell Grant; 4) Have successfully completed rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education; 5) Have maintained cumulative GPA of at least 3.0, if second year student.

National Science and Mathematics Access to Retain Talent Grant (SMART)
This is a new grant program for full-time undergraduate students who are enrolled in the third of fourth academic year* of an eligible program,* who receive Federal Pell Grants and are U.S. citizens. An eligible program* in the National SMART Grant is one that leads to a bachelor's degree in an eligible major or a graduate degree program in an eligible major that includes at least three academic years of undergraduate education. The award is up to $4,000 for each of the third and fourth academic years. Students must: 1) Be pursuing an eligible major in physical, life, or computer sciences, engineering, technology, mathematics, or a critical-need foreign language; and 2) Have at least a 3.0 cumulative GPA.

The Federal PLUS Loan Program: This program is for parents of dependent undergraduate students. Federal PLUS borrowers may obtain loans from banks, credit unions and other participating lenders at an annual variable interest rate not to exceed 9%. Repayment begins within 60 days after the last disbursement for the loan period.

Federal Stafford Loan: These funds are available to eligible students. The interest rate will not exceed 8.25%. Many lenders offer borrower benefits that will help simplify repayment and reduce the cost of borrowing. Applying for a Loan »

NC Contractual Grant: For legal North Carolina residents with substantial financial need who are enrolled full-time, working on their first bachelor's degree in a non-religious or sacred music major. The annual award amount varies.

NC Legislative Tuition Grants (NCLTG): Granted by the General Assembly to provide tuition assistance to N.C. residents attending private colleges and universities in the State. To receive the NCLTG, a student must be a legal resident of North Carolina and be enrolled as a full-time undergraduate. Application for the grant and the residency forms should be completed and returned to the Office of Financial Assistance before the student registers.

NC State Student Incentive Grant: For students with significant financial need as determined by their FAFSA results. Deadline to be considered for this grant is March 15th. The award amount varies.

Prospective Teacher Scholarship Loan Fund: Provides loans for North Carolina students who plan a teaching career. Priority is given to those who plan to teach the mentally handicapped and other elected teaching categories. Under certain provisions, the loan can be cancelled by employment as a full-time teacher in North Carolina Public Schools. The application deadline is mid-February. Applications may be obtained in the Department of Education at Catawba. Eligibility requirements can be found at www.CFNC.org/PTSL.

Future Teachers of NC Scholarship-Loan: This program was established by the 2005 General Assembly to provide scholarships to college juniors and seniors in schools of education who intend to teach math, science, special education or English as a second language in North Carolina's public schools. This two-year scholarship-loan is $6,500 per year. Eligibility requirements can be found at www.CFNC.org/FTNC.

NC Loan Program for Health, Science, and Mathematics: Provides loans to North Carolinians who pursue career opportunities in certain health, science, and mathematic disciplines. Loan maximums are $2,500 for each academic year. The in-school interest rate is eight (8) percent. Upon completion of all required coursework, loan recipients in qualifying disciplines may be eligible for loan cancellation by service in North Carolina. Applications are available in the Office of Financial Assistance. Eligibility requirements can be found at www.CFNC.org/HSM.

NC Education Lottery Scholarship (ELS): The North Carolina 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. Eligibility is determined based on the same criteria as the Federal Pell Grant with one exception; students not eligible for the Federal Pell Grant with an estimated family contribution of $5000 or less will be eligible for an Education Lottery Scholarship. Students who have earned baccalaureate (four-year) college degrees are ineligible. Students must file the FAFSA early (by March 15th) to be considered for this grant.

Maryland, Pennsylvania, Rhode Island & Vermont State Grants:
For students who are residents of these states scholarship aid may be available to help in your attendance at Catawba College. Amounts vary. For more information check with your guidance counselor.

Alternative Payment Plan: This is designed to assist you when you need additional funding to supplement your Catawba College or Need-Based Assistance. Sallie Mae offers the interest-free TuitionPay Monthly Plan. The family may choose an amount to be financed over a period of months, interest-free. With this plan, you borrow less and save interest by using current income and savings to make monthly payments. Tuition Protection Coverage for the bill payer is included at no extra charge. There is a $55 administrative fee to be remitted at time of enrollment. For more information, call the Catawba College Business Office at 1-800-CATAWBA or visit the Sallie Mae TuitionPay website.

Alternative Loans: Lenders generally make available alternative student loans to help fill the gap between the financial aid you receive and the money you still need. These are typically in the student's name; however, most require a co-signer. Please contact the Financial Aid Office to determine which loan would be best for you.