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MU Home » Financial Aid

General Information

To receive financial aid, the student must reapply each year by completing a Free Application for Federal Student Aid (FAFSA). The FAFSA form is available on January 1 of every year. In addition to completing a FAFSA each year, students must meet enrollment and SAP standards.

The Basics

  1. Students should complete a Free Application for Federal Student Aid (FAFSA). Students who return their FAFSA application later than the priority date will continue to be considered for financial aid as long as the funds remain available.
  2. Students who have applied for admission to Methodist should also submit the FAFSA. They should NOT wait for an admissions decision before completing the FAFSA.
  3. Students should respond quickly to all requests for financial aid information.
  4. Students should put their name and ID number on all documents they submit as part of their application for financial aid. They should also keep a copy of the forms they submit and the materials they receive related to financial aid.
  5. Students should ask questions regarding any parts of the financial aid process that they find confusing.

Need-Based Financial Aid

Methodist University offers a broad program of financial aid through the use of Federal, State, and Institutional funds. Since need is an essential factor in the majority of decisions regarding the offer and award of financial aid, it is necessary for an assessment to be made through a standardized and unbiased approach. Methodist University recommends that the student complete the Free Application for Federal Student Aid (FAFSA). This form includes the consideration for all types of financial aid (Federal, State, or Institutional). This is the only form that needs to be completed for prospective Methodist University students. The FAFSA is for U.S. residents only.

Non Need-Based Financial Aid

It is recommended that all students complete the FAFSA form. However, if there is not a financial need or should the student/parent choose not to complete the FAFSA, the student may receive non need-based financial aid such as academic or performance based institutional scholarships.

Federal Aid

Most federally subsidized financial aid resources are classified as "need based" programs. Accordingly, the submission of the FAFSA to the processor using an approved "needs analysis" formula is required.

Federal programs include: Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Work Study Program, Perkins Loan, Federal Direct (student) Loan (subsidized and unsubsidized). The Federal Pell Grant is an entitlement. The SEOG, Work Study and Perkins Loans are awarded at the discretion of the institution. The SEOG and Perkins programs are awarded to students with exceptional financial need. Methodist University has defined exceptional need as Pell Grant eligible.

State Aid

Effective 2012-2013: The State of North Carolina offers a need based grant called the North Carolina Need-Based Scholarship. The scholarship is awarded to any undergraduate degree seeking North Carolina resident demonstrating financial need as determined by the FAFSA and enrolled in at least 9 semester hours. Students will need to complete the FAFSA as soon as possible to become eligible. Funding is subject to legislative action by the North Carolina General Assembly.  Therefore, amounts are subject to change due to budget limitations.

United Methodist Aid

  • United Methodist Church Board of Higher Education and Ministry Programs
  • The United Methodist Scholarship Program is a church wide educational service providing scholarships to help supplement the financial needs of today’s students. Funding for these scholarships is provided through offerings, wills, annuities, and other designated gifts.

    Scholarships are awarded on an academic-year basis. A student is eligible to receive only one United Methodist scholarship or loan during any one academic year. All scholarship applicants must be full, active members of The United Methodist Church, for at least one year prior to applying. Applicants must also be citizens or permanent residents of the United States, must be full-time attaining their first bachelor’s degree, and must be attending an accredited educational institution in the United States.
  • The United Methodist Student Loan Program: The United Methodist Student Loan Fund has the distinction of being one of the oldest student loan fund programs in the world. Since 1868, Methodists have provided financial assistance to their members. Supported though wills, annuities, special Sundays with offerings, and World Service dollars, the loan programs administered by this agency have enabled laity and clergy alike to fulfill their vocational dreams regardless of color or gender. The aggregated amount one may borrow has also been increased to correspond with the financial needs of today. Funds received on United Methodist Student Day for the UM Loan Fund are invested, loaned, and repaid over and over again. Student Day is observed by local congregations the last Sunday in November or on another date determined by the church.
Members of A.M.E., A.M.E. Zion, and other “Methodist” denominations are not eligible. For an updated listing of all the United Methodist Scholarships and loans available, please contact the Office of Loans and Scholarships General Board of Higher Education and Ministry at (615) 340-7344-Scholarship Department or (615) 340-7346-Loan Department or online at www.gbhem.org

 

Outside Scholarships

 

Free internet scholarship search programs can be found online at the following websites:

  • CFNC.org
  • Collegeboard.com
  • Fastweb.com
  • Finaid.org
  • GBHEM.org
  • Scholarships.com
  • Umhef.org

There are numerous scholarship books available at most public libraries. Also, check with your high school guidance office (high school students), your local clubs or organizations, or the Office of Financial Aid for information about local or national scholarships. Pay particular attention to scholarship deadlines.

 

 

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