Please View The Following Aid Information
GRANTS
Federal Pell Grant (PELL)
| The Pell Grant is a federal grant that provides funds up to $4731 based on the student’s financial need. Eligibility is determined by completing the Free Application for Federal Student Aid (FAFSA). Disbursements will be made directly to your student account at the beginning of each payment period. |
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG grants are awarded by the school’s financial aid office. To qualify, a student must also be a recipient of a Pell Grant. Eligibility is determined by completion of the FAFSA and need.
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North Carolina Legislative Tuition Grant (NCLTG)
The NCLTG is a state grant that is awarded to North Carolina residents who attend an independent college. This grant is awarded up to $1950 in the 07-08 academic year, and may be in $975, $732, or $488 payments depending on schedule and credit hours. You must complete a state grant application, FAFSA, and other requested paperwork to apply for the NCLTG. If the student is awarded the grant, the funds will be credited directly to the student’s account after the grant is earned and the funds are received from the State.
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North Carolina Contractual Grant (SCSF)
| The NC Contractual Grant is a need-based State grant. Eligibility is determined by completing the FAFSA. The student must also be a North Carolina resident. |
North Carolina Student Incentive Grant (NCSIG)
The NCSIG is a state-run financial aid program for state residents. North Carolina receives matching funds from the Federal government to help fund the program. Applicants must complete the FAFSA prior to March 15 of the award year to be considered for the NCSIG funds. Awards are made by state agencies, not Montreat College.
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The North Carolina Lottery Scholarship (NCL)
| The Lottery is a state-run financial aid program for state residents. Applicants must complete the FAFSA prior to March 15 of the award year to be considered for the funds. Awards are made by state agencies, not Montreat College. Awards are based on class schedules. |
The Teachers Education Assistance for College and Higher Education Grant (TEACH)
| The TEACH Grant should take effect in the 09-10 award year. More information coming soon. |
LOANS
Federal Stafford Loan
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These variable interest rate loans have a cap of 8.25%. Loans are funded by private lenders but regulated by the federal government. Repayment begins 6 months after the student borrower ceases to be enrolled at least half time. Borrowers have up to 10 years to repay, depending on the amount borrowed. The subsidized portion is based on financial need, while the unsubsidized portion is available without regard to need. The loan amount may not exceed the cost of attendance. First time borrowers are required to complete an entrance interview online before receiving Federal Stafford loan funds. The amount of loan funds a student may borrow depends upon his/her academic grade level, remaining financial need, and dependency status.
You may view Stafford Loan amounts and limits as of 7/1/08 at http://www.nasfaa.org.
You can apply for a Stafford Loan here.
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Federal Parent Loan for Undergraduate Students (PLUS)
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Low-interest (variable for new borrowers) loans are funded by private lenders but regulated by the Federal Government. This loan program is available to parents of undergraduate students. Parents may borrow up to the cost of attendance minus financial aid. Repayment usually begins 60 days after funds are disbursed. For more information about this loan program, please see our Other Helpful Links on the side menu.
You can apply for an Undergraduate PLUS loan here.
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Federal PLUS Loan for Graduate Students (PLUS)
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Low-interest (variable for new borrowers) loans are funded by private lenders but regulated by the Federal Government. Graduate students may borrow up to the cost of attendance minus financial aid. Repayment usually begins 60 days after funds are disbursed. For more information about this loan program, please see our Other Helpful Links on the side.
You can apply for a Graduate PLUS loan here.
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Federal Perkins Loan
| These low interest (5%) loans are funded by the federal government and previous borrowers' repayments. Loan eligibility is based on financial need. Repayment begins 6 to 9 months after the student borrower ceases to be enrolled at least half time. First-time Perkins Loan borrowers receive information about debt management before receiving loan funds. Minimum payments are $40 per month. Borrowers have up to 10 years to repay the loan, depending on amount borrowed. Annual limits are $4000 for undergraduate students. Students who receive a Perkins Loan on their award letter must report to the business office in Gaither Hall to sign your promissory note. Eligibility is determined by completion of the FAFSA. |
Private Loans
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Private Loans (or alternative loans) are offered by private lenders and do not involve any federal forms. These loans are frequently utilized when federal loans do not provide the necessary level of funding. For more information on private loans, please contact your lender for their application requirements.
You can apply for alternative loans here.
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2008-2009 Federal Loan Interest Rates (effective 7/1/08 - 6/30/09)
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Stafford
6.00% fixed undergraduate subsidized
6.80% fixed undergraduate unsubsidized
6.80% fixed graduate subsidized
6.80% fixed graudate unsubsidized
Parent & Grad PLUS
8.50% fixed
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SCHOLARSHIPS
Scholarships are available in a wide variety of forms. They may be based on need, ability, grades, profession, heritage, etc. Every scholarship has unique conditions as to who may apply and/or the eligibility criteria. Additional scholarship information may be found by visiting one of the websites listed below.
Currently, no institutional scholarships are available to SPAS students, but all students (SPAS and SAS) may apply for outside scholarships. We also suggest going to your local churches and organizations for personal scholarships that they may offer.
Some websites with scholarship information are:
www.fastweb.com
www.cfnc.com
www.fastforwardmedia.com
www.finaid.org/scholarships/other.phtml
www.finaid.org/finaid/awards.html
www.petersons.com
www.collegeboard.com
Special Scholarships (for SAS students Only):
Athletic Scholarships
Music Scholarships
Church Matching Scholarships
Greybeard Players Theatrical Scholarships
Visual Art Scholarships
Trustee Scholarships
Rachel Henderlite Scholarships
Child of Alumnus
Child of Minister
Board of Visitors Scholarship
Keystone Scholarship
Glade Valley Scholarship
Endowed Scholarships (for SAS students only)
Endowed scholarships are the source of Montreat College's general scholarship or grant aid awards. Financial aid awards generally combine money available from several of these funds, and applicants should not apply for specifically named scholarships.
Virginia Abrams Memorial Scholarship
Akzona Scholarship
Elizabeth Humphries Anderson Scholarship
Verda Zoulean Anderson Scholarship
Anonymous Scholarship Fund
Florence M. Arrowood Scholarship
Tres Bailes Scholarship
Dr. and Mrs. Ira P. Baumgartner Scholarship
Beaty Seneca High School Scholarship
Blakemore Sisters Scholarship
Alice Seitz Bogie Scholarship
John B. Bradley Work Scholarship
Mr. and Mrs. Herbert Spencer Browning Scholarship
Margaret Lancaster Bryan Scholarship
Mary Anderson Burwell Scholarship
H. Jenks & Mildred Caldwell Scholarship
Class of 1939 Scholarship
Class of 1942 Scholarship
Class of 1944 Scholarship
Margaret "Peggy" Conger Byrd Scholarship
Rachel H. Cooper Scholarship
Winnie E. Coxe Scholarship
Becky and C. Grier Davis Scholarship
Walter Powell Davis Scholarship
B. Hoyt Evans Scholarship
Dana Beck Fancher Scholarship
Mr. and Mrs. P.K. Ferree Endowed Scholarship
First Presbyterian Church of Kannapolis Scholarship
Nancy Boyd Garrison Scholarship
James Gettys & Agnes Ezell Endowed Scholarship
Sue O. Gilkerson Scholarship
Ben Hill Griffin, Jr. Scholarship
Willie Hines Gwaltney Scholarship
Evelyn Maxwell Harris Scholarship
Clarence Hoeper Scholarship
Margaret McElwee Holt & Ralph Manning Holt, Sr. Scholarship
Elizabeth Hoyt Alumni Work Scholarship
S.W. and Mary Huddleston Scholarship
Harvey B. and Mary B. Hunter Scholarship
William and Mary Eleanor Hurt Scholarship
Lola E. Johnston Scholarship
B. Everett & Katherine M. Jordan Scholarship
Mr. and Mrs. Jeter J. Kennedy Scholarship
George Kercher Scholarship
Mickey Lane Scholarship
Mr. and Mrs. Stanhop Lineberry Scholarship
R.J. Maclellan Charitable Trust Scholarship
MacMillan-Williams Scholarship for Christian Education
Annie J. Maxwell Scholarship
Elizabeth Maxwell Scholarship
Ruby McElwee Scholarship
Mary W. and Foster G. McGaw Scholarship
Matthew McGowan Scholarship
Dr. J. Rupert McGregor Scholarship
Mr. and Mrs. A.A. McLeod Scholarship
Mr. and Mrs. Robert H. Moore, Sr. Scholarship
Arthur N. & Irene Morris Scholarships
Dr. John T. Newton and Dr. David L. Parks Biblical Scholarship
Helen H. Pamplin Scholarship
Partners in Christ Forest Hill Presbyterian Church Scholarship
H. Coleman & Lucy Matheson Payne Scholarship
Bruce R. Powers Scholarship
Charles Rathbun, Sr. Work Scholarship
George and Nita Roughgarden Scholarship
William and Effie Rule Scholarship
Alfred Scarborough, Jr. Memorial Scholarship
Robert Lee Scarborough, Jr. Scholarship
W.A.L. Sibley Scholarship
Winston Hall Sibley Scholarship
Elizabeth Sloan Scholarship
George H. and Helen W. Smith Scholarship
John I. Smith Scholarship
Ludi Loftis Spencer Scholarship
Margaret H. Spencer Scholarship
Claude Fisher Thomason, Sr. Scholarship
Patrick A. Thrift Scholarship
George Anderson & Lottie Parker Toland Scholarship
Silas M. & Catherine S. Vaughn Scholarship
Margaret Wade Scholarship
Edith Warren Music Scholarship
Agnes C. Watkins Scholarship
Sprinza Weizenblatt Scholarship
David Lee Wells Memorial Music Scholarship
Westminster Presbyterian Church Scholarship
Steve & Jane White Scholarship
Elizabeth Wilson Scholarship
Mary T. Wyatt Scholarship
Winnie A. Coxe and Agnes Watkins Scholarship
Mattie Lee Gillespie Scholarship
Dan Hubbel Memorial Scholarship
Lucy McGregor Memorial Scholarship
Mary S. McLeod Scholarship
Thomas McPheeters Scholarship
S. W. Newell Scholarship
Mary Willie Tate Scholarship
Frances W. Thompson Scholarship
Robert C. & Sadie G. Anderson Scholarship
Champion International Scholarship
Glade Valley School Scholarship
James G.K. McClure Educational and Development Fund
Frank H. & Annie Bell Wilhelm Perry Memorial Scholarship
Reynolds Missionary Scholarship
Lettie Pate Whitehead Scholarship Fund
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