Types of Financial Aid for Part-time Students

Gift Aid

Gift aid (grants/scholarships) for part-time students is based on their financial need as determined by the FAFSA. Because part-time students are charged on a per-credit basis, there is no institutional financial aid available (other than the Part-time Studies Scholarship). The most common sources for gift aid are:

  • Federal Government
    • Federal Pell Grant
      • Annual amount: up to $6,803 for 9-11 credits; up to $4,955 for 6-8 credits
      • Qualifications: Students who file the Free Application for Federal Student Aid (FAFSA) and demonstrate eligibility determined by the U.S. Department of Education.
    • Federal Supplemental Educational Opportunity Grant (SEOG)
      • Annual amount: up to $100
      • Qualifications: Students who file the Free Application for Federal Student Aid (FAFSA) and demonstrate exceptional need as determined by the U.S. Department of Education.
  • State Government
    • Wisconsin Grant
      • Annual amount: up to $3,638 for 9-11 credits; up to $2,425 for 6-8 credits; up to $1,212 for 1-5 credits
      • Qualifications: Wisconsin resident who files the Free Application for Federal Student Aid (FAFSA) and demonstrates financial need. Awarded by the Wisconsin Higher Educational Aids Board to students based on a pre-determined formula.
    • Information on additional Wisconsin Grants -http://www.heab.state.wi.us/programs.html
  • Carroll University
    • Part-Time Studies Scholarship
      • Semester Amount Varies.
      • The Part-time Studies Scholarship* is available for part-time students (degree seeking) in good academic standing. Applications are due in August and January for the fall and spring semesters, respectively.
      • Funds are applicable to tuition and fees only.
  • * These funds are applicable to tuition and fees only.

Loans

Loan programs are available for students and parents. There are two forms of student loans—government-guaranteed loans and private loans that require a co-signer. The government-guaranteed loans are called Federal Direct Subsidized Loans and Federal Direct Unsubsidized Loans. Limits are placed on how much students can borrow based on their year in school. These loans are long-term loans with no repayment while the student is in school. Any student who files the FAFSA is eligible to receive this loan regardless of their economic situation. Private loans are student loans that typically require a co-signer and are taken out through a bank. Terms vary based on the bank that is used.

Learn more about loans

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