Searching for Aid

Merit-Based Aid
Competition is keen in the world of merit-based aid. There are always more qualified applicants than awards.

• Use colleges' printed materials and Web sites to determine scholarships they offer for which you are qualified.
• Visit the "Scholarship Search" Web sites (several are listed on the Web page
  " Financial Aid Internet Sites"). Enter your information as requested for the searches.
• Review your state scholarship requirements to determine if you qualify, and if so, how to apply.
• Check out the application procedures and pay close attention to the scholarship application deadlines.
• Make sure you meet the requirements and follow the application procedures correctly.
• Be realistic in your expectations. Continue to explore need-based aid and other options.

Need-Based Aid

Applying for need-based aid is somewhat more structured than the merit-based process. A common application used by all colleges to determine your eligibility, known as the Free Application for Federal Student Aid (FAFSA) is available online.

• Visit college Web sites to obtain information about need-based programs. Also check to see if they require any forms in addition to the FAFSA. Note priority filing dates.
• Estimate your eligibility for need-based aid using one of the calculators on the various financial aid information Web sites.
• Complete the FAFSA as soon after January 1st when you have accurate tax information.
• Follow the FAFSA instructions "to the letter." Pay particular attention to directions regarding whose income is to be reported and who can be counted as a family member.
• List federal code numbers of all schools you wish to receive your application data.
• FAFSA's are completed electronically. Apply now for PIN to use in this process. Both the parent who provides information and the student must have a PIN's.
• Respond promptly to requests for additional information and/or documents.
• Investigate available alternatives, including tuition payment plans and Parent Loans. Receiving aid for full cost is rare.

Winthrop University participates in the following major financial aid programs:

• Federal Direct Loans – Available to all students enrolled in a degree program who are US citizens or eligible non-citizens. The maximum loan amounts for an academic year are $3500 for freshmen, $4500 for sophomores, $5500 for juniors and seniors, and $20,500 for graduate students. Students considered to be independent of parental support for financial aid purposes qualify for increased loan amounts.


• Federal Pell Grants – Available to all undergraduate students who meet the federal government’s eligibility formula. Pell Grants range from $400 to $4310 for the 2007-08 school year.


• Other Grants – Winthrop receives funds through the Federal Supplemental Educational Opportunity Grant and South Carolina Need-Based Grant programs. These funds are awarded to the neediest students who complete their FAFSA applications by March 1.


• Federal Perkins Loan – Funds from this program are made available to the students with exceptional need and who complete their FAFSA applications by March 1.


• Federal Work-Study – Eligible students are awarded funds through this program. These students may work part-time on the campus and are paid for hours worked every two weeks. The program encourages community service work and work related to the student’s course of study. The rate of pay set for work study jobs is at least the federal minimum wage. Higher wages may be set, depending upon the type of work to be performed and skill required.
  View the work-study job opportunities available now.

Non Need-Based Programs

Student Loans
Regardless of a family’s ability to pay college costs, any degree seeking student who is a US citizen or an eligible non-citizen may be eligible to receive a federal student loan. For students with financial need determined by the FAFSA, the loan is subsidized, which means the federal government will pay the interest while the student is enrolled at half time in school. Students who do not have financial need may borrow an unsubsidized loan. For these loans, the student is responsible for the interest while enrolled in school.

If financial aid award will notify you whether your loan is subsidized, unsubsidized, or a combination of both.

Scholarships
Various scholarships are available for the college bound.

Payment Plans
Winthrop University offers a payment plan to assist families in managing the cost of college. For a small application fee, families may divide the cost for a semester into four equal installments. You may contact the Winthrop University Cashiers’ Office at 803-323-2167 for additional information.

Parent Loans
In addition to student loans, parent loans are available. Parents of dependent students may borrow through the Federal PLUS Loan any amount up to the cost of attendance less any financial aid received by the student. The interest rate is fixed at 8.5%. Repayment begins after the loan is disbursed and can take up to 10 years. For more detailed information and applications, contact the Office of Financial Aid at Winthrop University or visit our Parent Loan page.

Private Loans:
Students who have used all of their federal aid eligibility may apply for aid from one of the private loan programs.  Information is available on our Private Loan page.

Employment
Student employment opportunities exist on the campus. On-campus employment opportunities may be listed and available in the Office of Financial Aid. You may visit the Career Services Center for off-campus employment opportunities.

Students may not receive aid from all sources which would exceed the established cost of attendance.