Shaw University
       
Moodle Give to Shaw  

Financial Aid Resources

Federal Pell Grants: These grants are available to students who are attending college on a full or part-time basis. They are based on a federal formula that measures the ability of students' families to meet their educational expenses. An application for a Pell Grant must be submitted for the academic year for which the student is applying. Students may complete the Free Application for Federal Aid (FAFSA) by applying on-line at www.fafsa.ed.gov. A processed Student Aid Report (SAR) should be received by e-mail within two to three days. A paper FAFSA application may be obtained from institutions of post-secondary education, high schools, public libraries, and other easily accessible locations. A Student Aid Report (SAR) should be received within four to six weeks for those who complete a paper FAFSA. The university receives an electronic copy as long as Shaw University's school code (002962) is listed.

William D. Ford Federal Direct Plus Loan: Federal Direct Plus loans are for parents of dependent students enrolled in college. This loan provides additional funds for educational expenses. Borrowers begin repayment of principal and interest at a variable interest rate within 60 days after the final loan disbursement.  There is no “grace period” for PLUS loans. Parents of dependent students may borrow up to the student's cost of attendance minus any financial aid received.

William D. Ford Federal Direct Stafford Subsidized Loan: - The Federal Direct Stafford Loan is a low-interest loan made to eligible students. These loans are made for the purpose of helping students meet their educational expenses. Interest is deferred on the principal of the loan during the student's enrollment period. Students who demonstrate need may borrow up to $3,500 a year as first-year students, $4,500 a year as second-year students, and $5,500 a year after the completion of the first two years of undergraduate study. Repayment begins six months after graduation, withdrawal or after the student ceases to be enrolled on at least a half-time basis.

William D. Ford Federal Direct Stafford Unsubsidized Loan: These are Federal Direct Stafford Loans that are not based on need. The borrower is responsible for paying the interest during in-school and deferment periods. However, the borrower may defer the interest while enrolled. The loan limits are the same as the Stafford loan for dependent students. This loan provides additional funds for educational expenses. Dependent students with denied PLUS loans and Independent students may borrow up to $4,000 per year as first and second year undergraduates and $5,000 per year as third and fourth year undergraduates (not to exceed the cost of attendance minus any other financial aid), to help meet education expenses. Repayment begins six months after graduation, withdrawal or after the student ceases to be enrolled on a half-time basis.

William D. Ford Federal Direct Stafford Loan Limits:           

Direct Stafford Loan Limits (Subsidized and Unsubsidized) 
 

Undergraduate students 

Graduate students 

Dependent1  

Independent2  

1st-year 

$5,500 ($3,500)3  

$9,500 ($3,500) 

$20,500 ($8,5004) for each year 

2nd-year 

$6,500 ($4,500) 

$10,500 ($4,500) 

3rd- and 4th-year 

$7,500 ($5,500) 

$12,500 ($5,500) 

Aggregate 

$31,000 ($23,000) 

$57,500 ($23,000) 

$138,5005 ($65,500) 

  1. Except those whose parents are unable to borrow a PLUS loan.
  2. These limits also apply to dependent students whose parents are unable to borrow a PLUS loan.
  3. The numbers in parentheses represent the maximum amount that may be subsidized.
  4. Graduate and professional students are not eligible to receive Direct Subsidized Loans for loan periods beginning on or after July 1, 2012.
  5. The aggregate amounts for graduate students include loans for undergraduate study.

Federal Supplemental Educational Opportunity Grant Program: FSEOG awards are made to students with the greatest need, with priority given to students who receive a Pell Grant. The grant ranges from $100 to $4,000 per academic year, depending upon the student's need and the availability of funds.

Federal Work-Study (FWSP): The Work-Study program provides part-time employment to eligible students who are enrolled. Students earn at least the minimum wage. Work-Study gives students an opportunity to earn money to help meet their educational expenses. Students are employed on campus by a variety of departments and offices, with the typical student working approximately 8-12 hours per week. Students must assume full responsibility for applying funds earned through the program to meet their education expense. Federal Work-Study is a need based program. Funds are awarded on a first come, first serve basis according to fund availability.

North Carolina Need-based Scholarship (NBS): This scholarship is offered through the College Fund of NC and its availability is contingent upon legislative authorization. Students must be a legal resident of the state of North Carolina for tuition purposes. Students must be admitted and enrolled in an undergraduate program in a matriculated status. A student must file a FAFSA form and have an Expected Family Contribution under the federal methodology that does not exceed 15,000. A student  must be enrolled for no less than (9) credit hours and must not be in default or does not owe a refund, under any federal or state loan or grant program. A student must also meet all other eligibility requirements for a Federal Pell Grant, except the EFC requirement and has complied with the registration requirements of the Military Service Act or is exempt from the registration requirements. A student cannot receive a scholarship for more than (9) full-time academic semesters, or the equivalent if enrolled part-time or if the student is enrolled in a program of study that is a five-year degree program that requires eleven (11) full-time academic semesters, or the equivalent if enrolled part-time. The award amounts for this scholarship varies based a student’s EFC and enrollment status.