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