FINANCIAL AID & SCHOLARSHIPS 2013-2014
At Carroll, we are committed to providing the highest quality education at an affordable price. Our goal is to allocate $34 million to over 2,800 students as fairly as possible. While it s true that a college education today can be expensive, a Carroll education can be the best investment you ever make. Few investments yield such a profitable, lifelong return. We are dedicated to helping you manage that investment by making your Carroll education affordable. FAST FACTS About 98 percent of our students receive financial assistance. More than $34 million in institutional money was awarded last year. Outside scholarships do not reduce the amount of gift aid a student receives from Carroll. About 85 percent of students graduating from Carroll do so in four years or less, which can make a Carroll education more cost-effective than a degree from a larger public institution. Tuition increases an average of only 4.5-5.0 percent per year. Flexible payment plan option. AVERAGE FINANCIAL AID AWARDS: FALL 2012 The bar graph shows the average awards made to the fall 2012 entering class, by family income. The average award includes scholarships, grants, loans and campus employment. Total Financial Aid Award $100,000 & Above $75,000 $99,999 $50,000 $74,999 $25,000 $49,999 $0 $24,999 Family Income $19,991 $22,809 $24,332 $28,849 $29,606 Cost of Attendance Tuition & fees $26,475 Room $4,369 Board $3,626 Total $34,470 Freshman Financial Aid Award Components Loan 21% Work 9% Scholarships & Grants 70% RECEIVE AN ESTIMATED FINANCIAL AID AWARD Complete the Carroll Net Price Calculator at www.carrollu.edu/cost and we will provide you with an estimate of the financial aid for which you might be eligible. The estimate is not an official financial aid award. You will still need to officially apply for financial aid by filing the Free Application for Federal Student Aid (FAFSA).
TYPES OF FINANCIAL AID SCHOLARSHIPS Carroll recognizes outstanding student accomplishments. These scholarships are available to first-time freshmen and are awarded at the point of acceptance. Academic Scholarships* Trustee Scholarship Voorhees Scholarship Charles Carroll Scholarship Presidential Scholarship $56,000 renewable; $14,000 per year. $52,000 renewable; $13,000 per year. $48,000 renewable; $12,000 per year. $36,000 renewable; $9,000 per year. * A student may receive only one scholarship from this category. NOTE: See chart for academic scholarship availability. Students who attend high schools that do not rank are not excluded from consideration for any academic scholarships. Please contact the Office of Admission for details. CLASS RANK TOP 10% TOP 20% TOP 30% TOP 40% ACT 36-30 SAT 1600-1320 Trustee Trustee Voorhees Voorhees ACT 29-27 SAT 1310-1200 Trustee Voorhees Voorhees Charles Carroll ACT 26-24 SAT 1190-1090 Voorhees Voorhees Charles Carroll Charles Carroll ACT 23-21 SAT 1080-970 Voorhees Charles Carroll Charles Carroll Presidential Additional Scholarships* MacAllister Full-tuition Scholarship Otto-Davies Fellowship Music Scholarship Theatre Scholarship George F. Kennan Fellowship Les Klug Photography Scholarship Anne Hardy Art Scholarship *A student may receive only one scholarship from this category. Full tuition each year for four years. Requires special application and on-campus interview. The recipient is not eligible for any other Carroll scholarships or grants. $10,000 renewable; $2,500 per year. For students majoring in the sciences (including applied physics, biology, chemistry, biochemistry, computer science and math). Requires a separate application and on-campus interview. Varying renewable amounts. Music majors and non-music majors. Based on audition. Varying renewable amounts. Theatre majors and minors. Based on audition. $5,000 renewable; $1,250 per year. History majors. Requires special application and interview. $500 one-year scholarship. Students majoring in art. Requires special application and submission of photography portfolio. $1,750; four-year total. Students majoring in art. Requires special application and submission of portfolio.
GRANTS & LOAN PROGRAMS PROGRAM AMOUNT* ELIGIBILITY Federal Pell Grant $555-$5,550 Students who demonstrate exceptional financial need as determined by the results of FAFSA. Federal SEOG Grant $400-$800 Awarded in varying amounts to students who (Supplemental Education also receive the federal Pell Grant. Opportunity Grant) Wisconsin Tuition Grant $1,000-$2,900 Awarded to Wisconsin students who demonstrate financial need as determined by the results of FAFSA. Carroll Donor Varying amounts Awarded in varying amounts to students who Sponsored Grant demonstrate a need for additional financial assistance. Federal Perkins Loan $2,000 A long-term, low-interest loan for students with exceptional financial need as determined by results of FAFSA. No interest or payments while in school. Interest rate is fixed at 5%. Federal Direct Stafford $5,500 1st year; A long-term, low-interest loan. No payments Loan (Subsidized or $6,500 2nd year; while in school. All students will qualify Unsubsidized) $7,500 3rd year; regardless of financial need. Must complete $7,500 4th year FAFSA. Federal Direct PLUS Cost of education A long-term, low-interest loan for parents of Loan (Parent Loans for minus other dependent students. Fixed interest rate Undergraduate Students) financial aid capped at 7.9%. Repayment begins 60 days after 2nd disbursement. (Flexible payment options are available through most lenders). Requires good credit rating. *Amounts might vary (numbers have not been finalized for 13-14 by federal and state governments). *Additional scholarships, grants or other sources of financial aid might be available. CAMPUS EMPLOYMENT If eligible, students may work on or off campus, earn an hourly wage and receive a monthly paycheck while attending Carroll. Students work 5-14 hours per week, depending upon their financial aid award.
FINANCIAL AID WEBSITES General financial aid/scholarship information: www.finaid.org General financial aid/scholarship information: www.fastweb.com General financial aid/scholarship information: www.studentaid.ed.gov Free Application for Federal Student Aid (FAFSA): www.fafsa.gov APPLYING FOR FINANCIAL AID To apply for financial aid at Carroll, follow these steps: 1. Apply for admission to Carroll University. 2. Complete the Net Price Calculator at www.carrollu.edu/cost (optional). 3. Carroll uses the results of the FAFSA as the basis for determining a student s eligibility for federal, state and institutional funds. The FAFSA should be completed and mailed to the federal processor upon completion of your tax returns. Carroll s address and school code (003838) must be listed on the FAFSA for the university to receive a copy of results from the federal processor. Students are encouraged to complete the FAFSA by April 1 for September enrollment, and by Nov. 1 for January enrollment. 4. Once you are accepted to Carroll, and approximately two weeks after we receive the results of your Free Application for Federal Student Aid (FAFSA), you will be notified by email regarding your financial aid package. COMPARING FINANCIAL AID AWARDS There are a few things to keep in mind when reviewing financial aid awards. It is important to know what you are comparing and some good questions to ask. Here are some helpful hints. Compare total costs including tuition, fees, room and board. Compare each type of financial aid grants to grants, loans to loans and work to work not just the bottom line. Subtract financial aid from cost. You might get more aid from one school, but does that school cost more? What types of aid are offered (i.e. grants, loans, campus employment)? Ask how much tuition increases per year. Ask what will happen to your financial aid award if you receive an outside scholarship. Ask what types of payment plans are available. Ask if there are fees or interest associated with payment plans. Ask how your financial aid will change in future years. Review all information for accuracy. a. Is your housing status correct? b. Is your enrollment status correct? ASK QUESTIONS! FOR MORE INFORMATION Call 262.524.7220 locally or 1.800.CARROLL (1.800.227.7655) Mail Carroll University Office of Admission 100 N. East Avenue Waukesha, WI 53186 Website www.carrollu.edu