Gift aid is free money that is given to a student based on his/her academic record, a special talent (i.e. music, etc.) or the family’s economic situation. Gift aid generally comes in two forms Grants and Scholarship. The most common sources for gift aid are:
- Federal Government
- Federal Pell Grant
- Federal SEOG Grant
- State Government - Determined From FAFSA
- Wisconsin Tuition Grant
- Wisconsin Convenant Scholars & Foundation Grants
- Carroll University - Determined By Academic Record & FAFSA
- Carroll Donor Grant
- Outside or Local Groups - Determined By Organization
- Scholarships (i.e. Kiwanis Clubs, etc.)
Loan programs are available for both students and for parents. There are two forms of student loans - government guaranteed loans and private loans that require a co-signer. The government guaranteed loans are called Federal Subsidized Stafford Loans and Federal Unsubsidized Stafford Loans. Limits are placed on how much students can borrow based on their year in school. These loans are long-term loans with no repayment while the student is in school. Any student who files the FAFSA is eligible to receive this loan regardless of their economic situation. Alternative loans are student loans that typically require a co-signer and are taken out through a bank. Terms vary based on the bank that is used.
Federal Parent loans (PLUS) are long-term, low-interest loans with 6.4% (for 2013-14) interest rates. Repayment generally begins 60 days after the 2nd disbursement. Flexible payment options are available through most lenders.
A student may be offered campus employment. At Carroll, if employment is included in the award then we will make every effort to make sure that students are assigned to a campus job. Generally speaking students work 6 to 12 hours per week and earn between $2,000 and $2,250 yearly. Campus employment earnings are not deducted from a student’s bill, but are paid to the student each month.