Types of Financial Aid
for Undergraduate Students

Gift aid is free money that is given to a student based on his/her academic record, a special talent (i.e. music, etc.) or the family's economic situation. Gift aid generally comes in two forms: Grants and Scholarships. The most common sources for gift aid are:

• Federal Government
  • Federal Pell Grant
  • Federal SEOG Grant
• State Government  (Determined from FAFSA)
  • Wisconsin Grant (formerly WI Tuition Grant)
• Carroll University (Determined by academic record and FAFSA)
  • Scholarships
  • Carroll Donor Grant
• Outside or Local Groups (Determined by organization)
  • Scholarships (i.e. Kiwanis Clubs, etc.)

Loans are available for both students and for 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 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. Alternative 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.

Federal Parent loans (PLUS) are long-term low-interest loans. Repayment generally begins 60 days after the second disbursement. Flexible payment options are available through most lenders.

Learn more about loan programs for attending Carroll University.

A students' financial aid package may include an offer of campus employment through Federal Work Study. In general, students will work 6-10 hours per week and can earn up to $2,500 annually. Campus employment earnings are not deducted from a student's bill but are paid directly to the student on a bi-weekly basis.

Federal Work Study is awarded to students who complete a FAFSA each year and demonstrate financial need. Students not eligible for work study could still be eligible for campus employment, although this is not federally funded.

Students are required to maintain Satisfactory Academic Progress (SAP) Standards to be eligible for Federal Work Study or campus employment.

Learn more about campus employment and how to apply!