Federal And State Grants & Loans | University of Mount Olive (original) (raw)

Federal and State Grants & Loans

Federal

Pell Grant

• Must have financial need
• FAFSA Expected Family Contribution must range from 0−0-0−5846
• Annual Amount: 661to661 to 661to6495

Federal Supplemental Educational Opportunity Grant (FSEOG)

• Must have financial need
• Must be eligible for the Pell grant
• First-come, first served
• Annual Amount: Up to $1000

Federal Work Study Program (FWSP)

• Must have financial need
• Requires an interview
• Students can review and apply for open positions at https://umo.joinhandshake.com/login. If hired, a portion of the students wages may be funded by the Federal Work Study Program
• Annual Amount: Up to $1000

Federal Direct Parent PLUS Loan

• Must complete FAFSA
• Complete online application at https://studentaid.gov/plus-app
• Applicant must be creditworthy and a dependent student’s biological, adopted, or step-parent
• Annual Amount: Varies upon credit approval and student’s financial aid budget

Federal Direct Student Loan (Subsidized & Unsubsidized)

• Cannot be in default
• Must have financial need for a subsidized loan
• First-time borrowers must complete a Master Promissory Note (MPN) and Entrance Counseling
• Annual Amount:
  Dependent Students: Freshmen – up to 5500,Sophmore–upto5500, Sophmore – up to 5500,Sophmore–upto6500, Junior/Senior – up to $7500
  Independent Students (or dependent students with a PLUS loan denial): Freshmen – up to 9500,Sophmore–upto9500, Sophmore – up to 9500,Sophmore–upto10,500, Junior/Senior – up to $12,500

State

North Carolina Need Based Scholarship

• Complete FAFSA
• Must be a permanent resident of NC.
• FAFSA Expected Family Contribution is 0to0 to 0to16,000
• Must be enrolled full time or ¾ time
• Annual Amount: Traditional Undergraduate Students – 672to672 to 672to8640, Adult Undergraduate Students 1000to1000 to 1000to2000