Financial Aid

Financial Aid

Financial aid is the economic assistance available to help students pay for college. This economic assistance may be in the form of scholarships, grants, work-study programs, or loans.

A financial aid package is a combination of different forms of financial aid (grants, loans, etc.) that together make up an offer of financial assistance.

A student's ability to contribute to the cost of his or her education is determined by the use of a NEEDS ANALYSIS which is a consistent, systematic way of measuring the ability of a family to pay for educational costs and its eligibility to receive funds from federal and state programs. It determines the ability, not the willingness, of a student or his or her family to finance his or her education. Everyone who applies is treated fairly and equally under this system. The amount of financial aid that a student receives may not exceed his or her cost of education as established by the college. Financial aid is available for applicants who qualify. 

Application Process for Financial Aid

To apply for any form of financial aid at South College-Asheville, a student must:

Depending upon the type of aid and the source of that aid, other documentation may also be requested. A financial aid administrator is available to provide needed assistance.

For federal student financial aid programs offered by the U.S. Department of Education under Title IV, the student's eligibility for the Federal Pell Grant must be determined, except for the Federal Direct PLUS loans.

Student Aid Programs

South College-Asheville participates in several student aid programs. A brief description of each follows.

Federal Pell Grant

The Federal Pell Grant program provides assistance that does not require repayment to eligible undergraduate students who have not earned a bachelor's or professional degree. For many students, it provides a foundation to which other aid may be added. The amount of the award is determined through the FAFSA needs analysis process and enrollment status of the student.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The FSEOG program provides assistance that does not require repayment to eligible undergraduate students who have not earned a bachelor's or professional degree. It is awarded to a limited number of students with exceptional need. In accordance with federal regulations, priority is given to students eligible for the Pell Grant program.

Federal Work-Study Program

This program provides opportunities for part-time employment on campus or at off-campus non-profit agencies. Financial need, prior work experience, individual skills, and academic major may be considered when placing students in specific work-study positions.

Federal Perkins Loans

This program offers long term, low interest rate loans to a limited number of students with exceptional financial need. The College is the lender for this loan that is made with government funds, with a share contributed by the College. Interest does not accrue and repayment does not begin until the student ceases to be enrolled at least half-time (6 credit hours per quarter).

Federal Subsidized Direct Loans

This program offers long term, low interest rate loans to students with financial need. Students must be enrolled at least half-time (6 credit hours per quarter) to participate in these programs. Money for the Federal Subsidized Direct Loan program is borrowed directly from the U.S. Department of Education. Interest does not accrue and repayment does not begin for loans through these programs until the student ceases to be enrolled at least half-time (6 credit hours per quarter). Further information on federal loans may be found at www.studentloans.gov.

Federal Unsubsidized Direct Loans

This program offers long term, low interest rate loans to students that are not based on financial need. Students must be enrolled at least half-time (6 credit hours per quarter) to participate in this program. Money for the Federal Unsubsidized Direct Loan program is borrowed directly from the U.S. Department of Education. Interest does accrue while the student is enrolled; however, repayment does not begin until the student ceases to be enrolled at least half-time (6 credit hours per quarter). Students may choose to make payments on the interest while they are enrolled or defer the interest payments when the Master Promissory Note (MPN) is completed online. Further information on federal loans may be found at www.studentloans.gov.

Federal Direct Parent Loan for Undergraduate Students (PLUS)

This program offers long term loans to parents of dependent undergraduate students that are not based upon financial need. Determination of eligibility for need-based aid is not required, but recommended. Interest begins to accrue as each disbursement is made. Repayment begins after the loan has been fully disbursed, but parents may defer repayment while their student is enrolled at least half-time (6 credit hours per quarter) and for an additional six months after the student drops below half-time. Money for the Federal Direct PLUS is borrowed directly from the U.S. Department of Education.

Federal Family Education Loans (FFELP)

These loan programs offered long term, low interest rate loans to students and parents with financial need, but have been replaced with Federal Direct Loans. Money for the Federal Family Education Loan program (FFELP) is no longer available, but students may have older loans under this program and have repayments back to a bank, savings and loan, credit union, and some life insurance companies.

Non-Federal Loans

South College-Asheville financial aid officers will provide information regarding credit-based, non-federal loans to students who may need additional funds to supplement the cost of attendance.

Veteran's Education Benefits

Certain veterans and dependents of veterans are eligible to receive financial assistance for education training from the U.S. Department of Veterans Affairs. South College-Asheville is approved by the North Carolina State Approving Agency to offer training in degree programs to students eligible to receive veterans' education benefits. Personnel in the financial aid and academic departments are available to provide more information regarding these benefits. Students or applicants may also contact the Department of Veterans Affairs Regional Office (1-800-827-1000). More information is available at www.gibill.va.gov.

Scholarships

South College - Asheville does not currently offer any institutional scholarships. However, students may look for and apply for outside scholarships. We recommend students check with their current employer about tuition assistance. Some websites with information on outside scholarships are:

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