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Eligibility Sources of Financial Aid
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Determining Eligibility:
- ACT and GPA when admitted to Carthage
- Results received from the Free Application for Federal Student Aid (FAFSA)
- Satisfactory Academic Progress
Gift Aid
Gift Aid comes in the form of scholarships and grants provided by Carthage, endowments, departmental awards or federal and state agencies. Most are
renewable for 4 years provided the student maintains full-time undergraduate status with satisfactory academic standing.
Federal and state funding are based on the Free Application for Federal Student Aid and are subject to change if there are changes in a families income,
household size or assets. Click here for more information regarding grants and scholarships.
Self Help Aid
Carthage offers two types of self-help aid:
1. Federal Work-Study
The federal work-study program is a need-based form of financial assistance that must be earned. This program is provided for full-time undergraduate
students who reside on campus. Students are paid in combination of federal funds and Carthage funds. A work-study award is the amount a student could
potentially earn if an average of 10 to 15 hours a week are worked in an assigned department. If a student qualifies for Federal Work-Study, it will
be reflected on their official award notification sent by the Carthage Office of Student Financial Planning.
Note: If a student does not qualify for Federal Work-Study, they can still pursue Campus Employment. The number of hours would be
the same as the federal program. However, it is the student's responsibility to find a position on campus. The Carthage Office of Student Financial Planning
will assist a student as much as possible but it is NOT guaranteed that a position will be obtained. More
information...
2. Student Loans
Loan funds need to be repaid. The Federal Family Educational Loan Program is the primary source of loans offered to Carthage students. Families may
also utilize the Parent Loan for Undergraduate Students (PLUS), a federal loan borrowed by a parent of an eligible student. More
information...
Outside Resources
- The AmeriCorps Program provides full-time educational awards in return for work in community service. You can work before, during, or after your
post secondary education, and you can use the funds either to pay current educational expenses or to repay federal student loans. For more information,
call 1-800-942-2677. Information is also available on the Internet at www.americorps.org.
- The agency responsible in your state for public elementary and secondary schools can give you information on the Robert C. Byrd Honors Scholarship
(Byrd) Program. To qualify for aid under the Byrd Program, you must demonstrate outstanding academic achievement and show promise of continued
academic excellence. Information is available on the Internet at www.ed.gov/programs/iduesbyrd/.
- The student Internet gateway to the U.S. Government provides access to government resources to assist students in planning and paying for their
education. www.studentaid.ed.gov is a federal initiative designed to make interacting with the government
easier for students. In addition to finding financial aid information, students can use the Web site to file their taxes, search for a job, and take advantage of
other government services.
- Public libraries are an excellent source of information on state and private sources of aid.
- Many companies and labor unions have programs to help pay the cost of post secondary education for employees and/or their children.
- Sources of financial aid also include foundations, religious organizations, fraternities or sororities, and town or city clubs. Include community
organizations and civic groups such as the American Legion, YMCA, 4-H Club, Elks, Kiwanis, Jaycees, and the Girl or Boy Scouts in your search.
- The U.S. Armed Forces also offer financial aid opportunities. For example, all branches of the U.S. Armed Forces offer the Reserve Officers Training
Corps (ROTC) Program, which is a federal merit-based scholarship program that will pay for your tuition, fees, and books and provide you with a monthly
allowance. The U.S. Army also offers a student loan repayment enlistment incentive through the Army's student loan repayment program for new recruits
who have already attended college and accumulated debt. In return for a three-year enlistment, the Army will repay up to $65,000 on specific federally
guaranteed loans to qualified applicants. For more information contact your local recruiter or call 1-800-USA-ARMY. For a complete list of recruitment
incentives offered by the U.S. Armed Forces, visit www.todaysmilitary.com.
- If you serve as an enlisted person in certain specialties of the U.S. Armed Forces, the Department of Defense may, as an enlistment incentive, repay
a portion of your loan. Note that this is not a cancellation. If you think you qualify, contact your recruiting officer.
- If you (or your spouse) are a veteran or the dependent of a veteran, veteran's educational benefits may be available. Check with your local U.S.
Department of Veterans Affairs office. Information is also available at www.gibill.va.gov
- The internet also has information on private sources of aid. Search under the keywords "financial aid," "student aid," "
scholarships," etc. The sites listed below are helpful resources:
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For information on the Hope and Lifetime Learning tax credits and other tax benefits for post secondary students, visit the
IRS Web site
Your share of college costs is called the Expected Family Contribution, or EFC for short. Estimating your
share helps determine how much you'll need from other sources, such as financial aid.
Remember, this number is only an estimate. Some colleges will expect a family to pay more or less than the EFC, depending
on the college's admission and financial aid policies and the financial aid funds available.
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