2013-14 Financial Aid Brochure

Engage. Enrich. Empower.

Financial Planningmethodist.edu

GreetinGs from methodist UniversityWe are pleased that you are considering attending Methodist University. Because cost and financial aid are such an important part of the college decision, we have put together this brochure to acquaint you with the process of applying for and obtaining financial assistance.

Our goal is to make Methodist University an affordable option for you and your family through a variety of financial aid programs which will be detailed in this brochure. Our commitment of over 16 million dollars of institutional funds for financial assistance shows how seriously we take this goal. The Offices of Admissions and Financial Aid are here to help you every step of the way. Do not hesitate to call if you have any questions!

Sincerely, Rick Lowe Vice President for Enrollment Services

“I have grown to realize the substantial value of my education at Methodist University. Small classes afforded me great access to my professors, who had a genuine concern for both my academic and personal growth.”

— Earl Leake ’73 Retired Vice President of Human Resources Lance, Inc.; Charlotte, NC

find oUt aboUt the affordability and valUe of methodist UniversityOver 90% of Methodist University students receive some type of financial assistance, and the average financial aid package includes approximately $24,500 of scholarships, grants, on-campus employment and student loan assistance.

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fast track to financial aid

SCHoLaRSHIPS aNd gRaNtSPresidential ScholarshipsMethodist University offers Presidential Scholarships to entering freshmen and to freshman transfer students who meet the criteria shown in the charts above. In the case of freshman transfer students (students with less than 31 semester hours of college work), they must also have attained a grade point average (GPA) of 3.0 on all college level courses attempted at their previous schools. This scholarship program is applicable only to students enrolled full-time (twelve semester hours or more) in the regular academic (day) program. Renewal of the scholarship cannot be extended beyond the eighth (8th) semester of college level work, and is based upon maintaining a GPA of 2.5 at Methodist University.

Methodist University Merit ScholarshipsMethodist University offers Merit Scholarships to incoming freshmen with a 2.9 (on a 4.0 scale) or higher cumulative high school GPA, and SAT/ACT scores of *900/19 or higher, who also demonstrate leadership abilities through involvement in extracurricular activities throughout their high school years. The Merit Scholarship ranges from $5,500 to $10,000 per year and is awarded at the time a student applies to the University at the discretion of the Office of Admissions. Students must maintain a 2.5 GPA on all course work attempted at Methodist University and continue enrollment as a full-time student (12 s.h. or more each semester) in order to maintain the scholarship.

Methodist University Transfer Scholarship Students transferring from other accredited institutions who have maintained a cumulative GPA of 3.1 or better (on a 4.0 scale) on thirty-one (31) semester hours or more of college-level work at the previous institution(s) will be awarded a Transfer Scholarship. Renewal of Transfer Scholarships is determined at the end of a two-semester period and is contingent on the student making satisfactory academic progress. Students who have previously enrolled at Methodist University are ineligible to be considered for this scholarship.

This scholarship information is subject to change based upon the 2013–2014 academic year cost. All information is based upon full-time enrollment in the day program

FEdERaL gRaNtSFederal Pell Grant• Afederally-fundedgrantbasedsolelyondemonstratedfinancialneed•ThemaximumPellGrantis$5,550forthe2012–2013academicyear.

Federal Supplemental Educational Opportunity Grant (SEOG)• Aneed-basedfederally-fundedgrant(mustalsoqualifyfor Pell Grant) • Amountvarieswithdemonstratedfinancialneedandgradepoint

average (GPA).

StatE gRaNtNC Need-Based Grant • AstatescholarshipprovidedtoallNCresidentscompletingtheir

first bachelor’s degree who are enrolled full-time in a private collegeinNCanddemonstratefinancialneed.

• ThisprogramisadministeredbytheNorthCarolinaStateEducation Assistance Authority and can provide up to $7,000 per year depending on need level, but is subject to change by the legislature.

PRESIdENtIaL SCHoLaRSHIP CRItERIaOn Campus GPA SAT/ACT* 3.7+ 3.4–3.69 3.1–3.39 1500+ (34+) $20,250 $18,250 $16,2501400–1490 (32–33) $18,250 $16,250 $14,2501300–1390 (29–31) $15,500 $13,500 $12,5001200–1290 (27–28) $14,750 $12,750 $12,0001100–1190 (24–26) $13,750 $11,750 $11,2501000–1090 (22–23) $13,000 $11,000 $10,500

* SAT score reflects combined critical reading and math section scores. ACT writing score not included in composite

GreetinGs from methodist University

Off Campus GPA SAT/ACT* 3.7+ 3.4–3.69 3.1–3.39 1500+ (34+) $14,000 $12,500 $11,000 1400–1490 (32–33) $12,500 $11,250 $9,750 1300–1390 (29–31) $10,750 $9,250 $8,500 1200–1290 (27–28) $10,250 $8,500 $8,000 1100–1190 (24–26) $9,250 $7,500 $7,500 1000–1090 (22–23) $8,500 $7,250 $7,000

tRaNSFER SCHoLaRSHIP gPa CRItERIa

Residential Students 3.7+ 3.4–3.69 3.1–3.3 $13,500 $11,250 $10,500

Commuting Students 3.7+ 3.4–3.69 3.1–3.39 $9,000 $8,000 $7,250

3800.488.7110 | methodist.edu

“I think of Methodist as my home. Even though I live less than 30 minutes away, I really wanted the experience of living on campus. I wasn’t sure we could make that happen, financially, but the office of Financial aid and admissions office worked hard to put a great package together for me.” — Melissa owen

athletic training, Roseboro, North Carolina

institUtional scholarships and Grants


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aRMY RotC SCHoLaRSHIPS Students awarded a fully-funded Army ROTC scholarship will be awarded a Methodist University ROTC Academic Scholarship. This scholarship cannot be combined with any other Methodist University funded scholarships. Students interested in information concerning Army ROTC Scholarships should contact the assistant professor of military science at Methodist University.

atHLEtIC tRaININg SCHoLaRSHIP Students who have been formally admitted to and enroll in the Methodist University Athletic Training Program will receive an additional $1,000 as a first-year student in the Athletic Training Program, $1,500 as a second-year student in the program and $2,000 as a third-year student in the program.

CHEERLEadINg aNd daNCE SCHoLaRSHIPSStudents selected to participate in the cheerleading or dance programs may be eligible for scholarships. For information regarding this program, contact the cheerleading coach or dance coach.

MEtHodISt UNIVERSItY MUSIC PERFoRMaNCE SCHoLaRSHIPS Music performance scholarships are provided to members of the vocal or instrumental performance ensembles who represent the University at on- and off-campus performances. The recipients are chosen annually as a result of auditions. They must agree to perform in scheduled programs during the semester in which they receive this scholarship. Recipients must also be full-time students enrolled in the regular (day) academic program. For additional information, contact the Music Department.

MEtHodISt UNIVERSItY dEBatE SCHoLaRSHIPS Students who participate in the Debate Program may be eligible for scholarships. For information regarding this program, contact the debate coach.

MEtHodISt UNIVERSItY EdUCatIoN SCHoLaRSHIP Students who have declared their intent to seek education licensure, and who meet Presidential Scholarship requirements are eligible for an additional $1,000 per year as a residential student or $750 per year as a commuting student through this program.

MEtHodISt UNIVERSItY ENdoWEd SCHoLaRSHIPS Methodist University offers numerous endowed scholarships. For more information regarding these scholarships, contact the Office of Financial Aid.

MEtHodISt UNIVERSItY FoUNdERS aNd oPPoRtUNItY gRaNtS Institutional scholarships awarded to students based upon financial need and GPA.

MEtHodISt UNIVERSItY LEadERSHIP SCHoLaRSHIPS Students who minor in leadership studies are eligible for scholarships worth up to $1,000. Recipients are chosen based on GPA, active participation in the events sponsored by the Lura S. Tally Center for Leadership Development, and their leadership potential. For additional information, contact the director of the Leadership Studies Program.

MINIStER dEPENdENt SCHoLaRSHIP A scholarship with a value equivalent to one-half of the current tuition may be awarded to the legal dependents/spouses of active, retired, or deceased ordained or full-time licensed local ministers who are members of the Methodist Church. This is also extended to dependents of all full-time-licensed ministers residinginCumberlandCounty,NC.Formoreinformation regarding this scholarship, contact the Office of Financial Aid.

PaStoR’S CERtIFICatE United Methodist students are eligible for a certificate valued at $125–$1,000 per year. For more information regarding this program, contact the campus minister.

SIBLINg SCHoLaRSHIP Methodist University awards a Sibling Scholarship to each dependent sibling who is concurrently enrolled at MU. This scholarship is valued at $1,000 per year as a residential student and $750 per year as a commuting student. Enrollment of each sibling must be verified at the start of each semester.

WRIgHt SCHoLaRS PRogRaM The Wright Scholars Program is a distinguished merit scholarship program for students who demonstrate high academic achievement, leadership qualities, commitment to community service and good citizenship. Five scholarships ranging from $14,250 to $25,250 per year (when combined with the Presidential Scholarship) will be awarded each year to members of the incoming freshman class. Minimum qualifications include a 3.70 or higher high school GPA and an 1100 or higher combined Critical Reading and Math SAT score (24 or higher ACT Composite). Financial need may also be taken under consideration. Scholarship applications will be mailed in


* SAT score reflects combined critical reading and math section scores. ACT writing score not included in composite.

February to accepted students who meet the minimum qualifications, and there is a March 1st deadline to be considered for this prestigious award. This scholarship is funded by a $5 million gift made to the University by Harvey T. Wright II (MU class of 1970) and his wife, Mary Fermanides Wright (MU class of 1968).

VaLEdICtoRIaN/SaLUtatoRIaN SCHoLaRSHIPS In order to recognize the academic strength of top ranking high school students, Methodist University awards a Valedictorian or Salutatorian Scholarship to any student who is ranked in the top two positions of his/her class, or who is identified as the class valedictorian or salutatorian at the end of the senior year and attends a regionally-accredited high school. The student must also meet Presidential Scholarship criteria (minimum GPA = 3.1, minimum SAT/ACT* = 1000/22). The Valedictorian Scholarship is valued at $3,500 per year for residential freshman and $2,500 per year for commuting freshman, and is awarded in addition to the Presidential Scholarship. The Salutatorian Scholarship is valued at $2,000 per year for residential freshman and $1,000 per year for commuting freshman, and is awarded in addition to the Presidential Scholarship. Renewal of the scholarship cannot be extended beyond the eighth (8th) semester of college level work, and is based upon maintaining a GPA of 3.0 at Methodist University.

VEtERaN SERVICES Methodist University is approved by the NorthCarolinaStateApprovingAgencyfor the enrollment of students eligible for education assistance benefits from the U.S. Department of Veterans Affairs (DVA). For more information regarding this program, please contact the director of veterans services.

dId YoU kNoW tHat:•40% of this year’s freshman

class received a Presidential or Merit Scholarship

•over 90% of our students receive some sort of scholarship and/or grant assistance averaging over $18,000 per year

•the average total financial aid package, including scholarships, grants, student loans, and Work-Study opportunities was approximately $24,500 per student

•Methodist University awarded over $50 million in total financial assistance through federal, state, institutional and outside resources in the last academic year

•our total cost is well below the national average for private colleges

Federal Direct LoanA dependent student is eligible to borrow up to $5,500 as a freshman, $6,500 as a sophomore, and $7,500 as a junior or senior through the Direct Loan program. Repayment begins six months after you (the student) discontinue your enrollment as a half-time student. Two thousand dollars of each of these loans is uNSubSidized, and financial need determines whether the remainder of the loan is SubSidized (the federal government pays the interest while you are enrolled and during the six month grace period) or uNSubSidized (you are responsible for the interest on the loan during enrollment and grace period). Independent students may borrow an additional $4,000 unsubsidized Direct Loan per year. For more information or to apply for the Direct Loan, visit studentloans.gov.

Federal Parent Loan for Undergraduate Students (PLUS)Credit-worthy parents may borrow up to the cost of attendance (once other financial aid is subtracted) through this program. Dependent students whose parents are denied a PLUS loan are eligible to borrow an additional $4,000 unsubsidized Direct Loan per year. For more information or to apply for the PLUS Loan, visit studentloans.gov.

Alternative LoansAlternative student loans are offered by banks or lending institutions to help students and parents bridge the financial gap between the cost of education and the amount of financial aid received. Contact the Office of Financial Aid for more information.

oN-CaMPUS EMPLoYMENtFederal Work-Study/MU Work ProgramStudents who qualify for the Work-Study program are eligible for $600–$1,600 per academic year in earnings through an on-campus job. The student must have financial need.

stUdent and parent loans


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tHE FINaNCIaL aId PRoCESS:

GET A PIN — To sign your FAFSA electronically, you (and yourparentifyouaredependent)needtoapplyforaPiNatwww.pin.ed.gov.WithaPiN,youcanchecktheresultsofyourprocessed FAFSA, correct errors, print a copy of your Student Aid Report (FAFSA results), and complete your renewal FAFSA nextyear.YoucanregisterforaPiNatanytimeandshouldkeepthis information confidential and secure. It usually takes 3–5 days forthePiNtobesentelectronically.

PRINT THE PRE-APPLICATION WORKSHEET — After January 1, when FAFSA for the upcoming academic year is available online, you can print this worksheet from the FAFSA website. It will help you get organized and will make completing the FAFSA much easier and quicker.

APPLY FOR FINANCIAL AID — To be considered for all types of need based financial assistance at Methodist University, you must first complete a Free Application for Federal Student Aid (FAFSA). You can complete the FAFSA online at www.fafsa.gov. If you do not have Internet access, please contact our Financial Aid Office (1-800-488-7110) to request a paper application. The Methodist University Title IV School Code is 002946.

SELECT “START HERE ” FROM THE FAFSA WEBSITE — Follow the on-screen instructions to complete the FAFSA. Utilize the built-inhelpfeaturessuchasthe“Chat”and“NeedHelpWithThisPage?” links, or call a Customer Service Representative at 1-800-433-3243 if you have problems. It is recommended that you have completed tax information from the previous fiscal year (1040, W-2 forms, etc.) prior to completing the financial sections of the FAFSA.

SAVE YOUR FAFSA OFTEN — By utilizing the “Save” button at the bottom of the screen, you can return to your FAFSA if you should lose your Internet connection.

PRINT EVERY PAGE YOU ARE INSTRUCTED TO PRINT — These pages are important to keep as records should you have any questions or concerns regarding your FAFSA form. Be certain to print the FAFSA Summary Page and the FAFSA Confirmation Page.

SUBMIT YOUR APPLICATION — The online FAFSA is usually processed within 1–2 weeks (4–6 weeks for the paper version) and results are sent directly to you and each college you list on the FAFSA. Within 1–2 weeks of our receipt of your processed FAFSA, you will receive either a financial aid award letter detailing the financial aid available for the upcoming year/semester or a request for additional information to complete the financial aid process.

SoME ExaMPLES oF HoW FINaNCIaL aIdCaN HELP YoU INVESt IN YoUR FUtURE Financing your education is one of the most significant investments that you and your family will ever make. It is also the most important. Methodist University students get all of the benefits of a private college education — small classes, individual attention, challenging academics and supportive faculty, to name a few — while reaping the benefits of generous financial aid, which makes Methodist University a great value. The following scenarios reflect actual financial aid packages offered to incoming Methodist University students and are intended to give you an idea of the variety and depth of financial aid offerings at MU.

2013–2014 Tuition and Fees $27,0502013–2014 Room and Board (unlimited dining) $10,150

It’S EaSY to CoMPLEtE YoUR FaFSa oNLINE at: WWW.FaFSa.goV

* Work-Study earnings are paid directly to the student, rather than being subtracted from the cost of the University

** Please refer to Key Terms and Concepts on page 11 for the definition of EFC

Student: Paige, Cleveland, OHNumber in Family: ................................................................ 4Family Members in College: ................................................. 2Family Adjusted Gross Income: ............................... $118,320Assets/Non-Retirement Investments: .......................... $4,000EFC**: .......................................................................... $11,597GPA/SAT: .................................................................3.72/1120Financial Aid Package $13,750 Presidential Scholarship $750 Greatest Gift Alumni Scholarship $6,000 Outside Scholarship $5,500 Direct Loan $1,300 Federal Work-Study

$11,200 balance after financial aid*

Student: Allison, Raleigh, NCNumber in Family: ................................................................ 4Family Members in College: ................................................. 2Family Adjusted Gross Income: ................................. $88,000Assets/Non-Retirement Investments: .......................... $7,000EFC**: ............................................................................ $7,062GPA/SAT: ...................................................................3.0/1010Financial Aid Package $6,000 Merit Scholarship $3,000 MU Founders Grant $5,700 NC Need Based Scholarship $5,500 Direct Loan $1,300 Federal Work-Study



the financial aid process

WaNt aN EStIMatEd FINaNCIaL aId PaCkagE?Log on to methodist.edu/admissions and select the Financial Aid

Calculator icon to get an estimate of your financial aid eligibility, including academic and need-based financial assistance.

Student: Darren, Miami, FLNumber in Family: .............................................................. 2Family Members in College: ............................................... 1Family Adjusted Gross Income: ............................... $16,245Assets/Non-Retirement Investments: ................................. 0EFC**: ................................................................................... 0GPA/SAT: ................................................................. 3.71/890Financial Aid Package $5,550 Federal Pell Grant $3,500 Federal Supplemental Education Opportunity

Grant (SEOG) $13,800 Founders Grant $3,500 Subsidized Direct Loan $6,000 Unsubsidized Direct Loan $1,600 Federal Work-Study



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Free Internet scholarship search programs can be found online at the following websites:

fastweb.comfinaid.orggbhem.orgumhef.org

scholarships.comcollegeboard.com

cfnc.orgcumberlandcf.org

nccommunityfoundation.org

There are numerous scholarship books available at most public libraries. Also, check with your high school guidance office for information about many local and national scholarships.

help findinG oUtside scholarships

* Work-Study earnings are paid directly to the student, rather than being subtracted from the cost of the University ** Please refer to Key Terms and Concepts on page 11

for the definition of EFC

Student: Emily, Roanoke, VANumber in Family: ................................................................ 3Family Members in College: ................................................. 1Family Adjusted Gross Income: ................................. $89,900 Assets/Non-Retirement Investments: ........................ $27,000EFC**: .......................................................................... $15,588GPA/SAT: .................................................................4.08/1230Financial Aid Package: $14,750 Presidential Scholarship $1,500 Marching and Pep Band Scholarship $5,500 Direct Loan

$15,450 balance after financial aid

Students: Christopher and Timothy (twins),Wilkesboro, NC Number in Family: ................................................................ 4Family Members in College: ................................................. 2Family Adjusted Gross Income: ................................. $67,875Assets/Non-Retirement Investments: ................................... 0EFC**: ............................................................................ $3,752GPA/SAT: .................................................. 2.73/930, 2.87/950Financial Aid Package (Each Student) $1,800 Pell Grant $11,900 MU Founders Grant $1,000 MU Sibling Scholarship $1,000 Greatest Gift Alumni Scholarship $1,000 Pastor’s Certificate $6,700 NC Need Based Scholarship $2,500 United Methodist Student Loan $5,500 Direct Loan $1,600 Federal Work-Study


Number in Family: ................................................................ 4Family Members in College: ................................................. 1Family Adjusted Gross Income: ............................... $127,600Assets/Non-Retirement Investments: ........................ $45,000EFC**: .......................................................................... $24,685GPA/SAT: ...................................................................2.82/870Financial Aid Package: $18,077 Post 9/11 GI Bill benefits transferred $4,496 Veterans Administration Yellow Ribbon

Scholarship $5,000 MU Yellow Ribbon Matching Scholarship $5,500 Direct Loan

$4,127 balance after financial aid

Student: Samantha, Point Pleasant, NJNumber in Family: ................................................................ 4Family Members in College: ................................................. 1Family Adjusted Gross Income: ................................. $76,648Assets/Non-Retirement Investments: ...................... $121,000EFC**: .......................................................................... $15,909GPA/SAT: .................................................................2.91/1120Financial Aid Package $10,400 MU Founders Grant $750 MU Cheerleading/Dance Scholarship $5,500 Direct Loan $1,000 Federal Work-Study


Commuting Student: Carrie, Hope Mills, NCNumber in Family: ................................................................ 3Family Members in College: ................................................. 1Family Adjusted Gross Income: ................................. $26,934Assets/Non-Retirement Investments: ................................... 0EFC**: ............................................................................... $830GPA/SAT: .................................................................3.98/1320Financial Aid Package $4,700 Federal Pell Grant $10,750 Presidential Scholarship $5,000 Wright Scholars Program Scholarship $3,800 NC Need Based Scholarship $2,800 Direct Loan $1,200 Federal Work-Study

($0) balance after financial aid*

Independent, Commuting Transfer Student: Sam, Fayetteville, NCNumber in Family: ................................................................ 3Family Members in College: ................................................. 1Family Adjusted Gross Income: ................................. $23,487Assets/Non-Retirement Investments: ................................... 0EFC**: ..................................................................................... 0GPA: .................................................. 3.17 on 63 SH (college)Financial Aid Package $5,550 Federal Pell Grant $3,600 NC Need Based Scholarship $7,000 Transfer Presidential Scholarship $1,800 MU Founders Grant $5,500 Subsidized Direct Loan $3,600 Unsubsidized Direct Loan

($0) balance after financial aid

Student: Robert, parents stationed in Jacksonville, NC

Admissions Office ..................... (800) 488-7110 or (910) 630-7027Athletic Training Program ...................................... (910) 630-7418Business Office ......................................................... (910) 630-7012Campus Ministry ..................................................... (910) 630-7157Cheerleading Coach ................................................ (910) 630-7154Dance Coach ............................................................ (910) 630-7375Debate Coach ........................................................... (910) 630-7653Education Department…. ....................................... (910) 630-7057FAFSA Status......................................................... (800) 4FED AIDFinancial Aid Office .................. (800) 488-7110 or (910) 630-7192Honors Program ...................................................... (910) 630-7076 Leadership Studies ................................................... (910) 630-7488Military Science (ROTC)......................................... (910) 630-7693Music Department ................................................... (910) 630-7100Theatre Department ................................................ (910) 630-7104Veteran Affairs Office .............................................. (910) 630-7174

AWARD LETTER — Official detail of all financial aid awarded.

ExPECTED FAMILY CONTRIBUTION (EFC) — This figure is subtracted from the cost of attendance to determine financial need. A standard formula has been established by the federal government to calculate EFC based on information supplied on the Free Application for Federal Student Aid (FAFSA).

FINANCIAL AID ESTIMATOR — Form found at www.methodist.edu/admissions which is used to estimate financial aid awards for the upcoming academic year.

FINANCIAL NEED — This is determined by subtracting the EFC from the cost of attendance.

FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) — Commonly referred to as the “Financial Aid Form.”

INSTITUTIONAL STUDENT INFORMATION RECORD (ISIR) — Official results of the completed FAFSA. Each college listed on the FAFSA will receive the ISIR electronically.

MONTHLY PAYMENT PLAN — Families may choose to make ten (10) monthly interest-free payments from June 1 — March 1 rather than the standard one (1) payment per semester. There is a $60 enrollment fee for this payment option.

STUDENT AID REPORT (SAR) — Official results of a completed FAFSA that the student receives.


key financial aid terms and concepts

for additional information contact:

SCAN THIS CODE FOR MU VIDEO!

StEP 1: download a free app to your phone to read QR codes. a good one is found at mobile-barcodes.com/qr-code-software/

StEP 2: take a picture of the QR code with your phone and you will be directed to MU’s video.

Engage. Enrich. Empower.

Office of Admissions5400 Ramsey StreetFayetteville,NC28311-14981.800.488.7110methodist.edu

Call 1-800-488-7110 / Visit methodist.eduMethodist University / office of admissions

5400 Ramsey Street / Fayetteville, North Carolina 28311-1498

Methodist University does not discriminate on the basis of age, race, gender, national or ethnic origin, religion, sexual orientation or disability for otherwise qualified persons in the administration of its admissions, educational policies, scholarships, loan programs, athletics, employment or any other university-sponsored or advertised program.

Methodist University is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools to award associate’s, bachelor’s, and master’s degrees. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097 or call 404-679-4500 for questions about the accreditation of Methodist University.

Methodist University Title IV School Code: 002946

Documents

2013-14 Financial Aid Brochure