Types of Financial Aid

Known as FAFSA, this federal funding application is completed annually by current and prospective college students — undergraduate and graduate — to determine your eligibility for financial aid.

You can file the FAFSA beginning October 1 of your senior year of high school. You must complete a new FAFSA each year you attend school.

When completing your FAFSA, the Lenoir-Rhyne University School Code is 002941.

A federal Pell Grant, unlike a loan, does not have to be repaid. These grants are usually awarded only to undergraduate students who have not earned a bachelor's degree or a professional degree.

If you’re eligible, federal student loans help you cover higher education costs at a four-year college or university. Subsidized loans are based on financial needs. The federal government pays the interest on the loan while you are enrolled in school at least half-time. Dependent student borrowing limits for subsidized and unsubsidized Stafford Loans are as follows:

• $5,500 for freshman year
• $6,500 for sophomore year
• $7,500 for junior year
• $7,500 for each remaining year
• $31,000 total for all undergraduate years

If you’re eligible, federal student loans help you cover higher education costs at a four-year college or university. Unsubsidized loans are not based on financial needs. Interest begins accumulating as soon as funds are disbursed and until the loan is paid in full.

Federal loans that graduate or professional students and parents of dependent undergraduate students can use to help pay for college or career school. PLUS loans can help pay for education expenses not covered by other financial aid.

Established by the North Carolina General Assembly in 2011, the Forgivable Education Loans for Service provides financial assistance to qualified students enrolled in an approved education program and committed to working in critical employment shortage professions in North Carolina. You must be a North Carolina resident to be eligible.

Funded by the Golden LEAF Foundation, the Golden LEAF Scholars Program is designed to assist current high school seniors and North Carolina community college transfer students. Recipients must be from certain rural counties, demonstrate both financial need and merit and plan to attend participating North Carolina colleges or universities.

The NC Assist Loan is an alternative education loan available to in-state and out-of-state students attending North Carolina schools.

Created by the 2011 North Carolina General Assembly, NC, Need-Based Scholarships are a need-based program for North Carolina residents attending private higher education institutions located in North Carolina. Students must be enrolled as an undergraduate for at least nine credit hours to be eligible.

This is a program funded by the State of North Carolina for dependents of North Carolina POW’s or deceased/disabled veterans. Applications are available at most high schools and the North Carolina Department of Veteran Affairs.

Through this site you can search for CFNC scholarships. Browse and search listings for scholarships and grants available to North Carolina students. Filter by North Carolina county, eligible populations, scholarship amount and more.

Veterans benefits are used in addition to the financial aid offered by Lenoir-Rhyne.

• Chapter 30 – Montgomery GI Bill Active Duty
  Available for qualified active duty and those separated/retired from active duty in the armed forces within the last 10 years. (rare exceptions to 10-year rule).
• Chapter 33 – Post 9/11 GI Bill
  For anyone with at least 90 days of aggregate service since 09/10/01. Valid for 15 years from the last date of qualifying service. Veterans with eligibility for other programs must make an irrevocable election to switch to Chapter 33. If your release from active duty was before January 1, 2013, there is a 15-year time limitation for use of benefits. For individuals whose last discharge date is on or after January 1, 2013, the time limitation has been removed.
• Chapter 1606 – Montgomery GI Bill Selected Reserve
  Available for current members of guard/reserve units who meet specific requirements.

Chapter 33 tuition and fees come directly to the university, while Chapter 30 and Chapter 1606 are direct deposit payments.

Available only for qualified veterans with a service-connected disability.

• Chapter 31 – Veteran Readiness and Employment
  Available only for qualified veterans with a service-connected disability. This program pays tuition, fees, books and supplies to the school and a monthly allowance to the vet.

Available to spouse and/or children of a vet who is 100% permanently and totally disabled or who died after such a service-connected disability was established.

• Chapter 35 – Dependents’ Education Assistance
  Available to spouse and/or children of a vet who is 100% permanently and totally disabled or who died after such a service-connected disability was established. It is also available for dependents of an MIA or POW service member (dependent children may also be eligible for the NC Veteran Children scholarship).

Active duty military and current guard and reserve members can receive up to 100% reimbursement of tuition. Our financial aid team processes TAP forms or reservists can mail these forms directly to the address on the TAP form. The military unit, not LR, provides forms.