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Available aid

 

There are three primary sources of aid, the federal government, the state government, and the institution. Another, smaller source of aid is private/outside organizations. These funding sources offer grants, scholarships, loans, and funding for employment and/or service. Explore these pages for information on a variety of aid sources and programs, but remember in most cases you must file a Free Application for Federal Student Aid (FAFSA) to be considered.

 

Grants are funds that do not require repayment. Grants are generally awarded to students with the greatest financial need, which is determined by the completion of the Free Application for Federal Student Aid (FAFSA). The Federal grant program consists of Pell, SEOG, and Iraq and Afghanistan Service Grant.

 

Scholarships are gifts of money that do not require repayment. Scholarships usually recognize special achievements in academics, talent, and leadership. Scholarship can come from a variety of sources.

 

Loans are funds that students and/or parents may borrow to pay for school and require repayment. The Federal Loan program consists of Direct Stafford, Perkins, Parent PLUS. Student may also obtain a Private/Alternative Loan to assist with costs as well. Private/Alternative Loans are non-federal loans and terms of the loan and repayments options are determined by the lender.

 

 

FEDERAL GRANT PROGRAMS
                                     
PELL

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded to undergraduate students who have not earned a bachelor's degree. Grant amounts depend on the student's expected family contribution (EFC); the estimated cost of attendance (determined by the institution); the student's enrollment status (full-time, part-time, ¾ time, or less than half-time); and whether the student attends for a full academic year or less.

 

Pell Lifetime Eligibility
Effective July 1, 2012 students can receive the Federal Pell Grant for no more than 12 academic semesters or the equivalent. The amount of Federal Pell Grant funds students may receive over their lifetime is limited by a new federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding students can receive each year is equal to 100%, the six year equivalent is 600%. To determine how much of the maximum six years (600%) of Pell Grant you have used each year, the U.S. Department of Education compares the actual amount you received for the award year with your scheduled award amount for that award year.

 

SEOG

The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFC) will be considered first for a FSEOG. FSEOG does not have to be repaid. You can receive between $100 and $4,000 a year, depending on when you apply, your financial need and federal funding.

 

Iraq and Afghanistan Service Grant

A student who is not eligible for a Pell Grant but whose parent or guardian was a member of the U.S. Armed Forces and died because of service performed in Iraq or Afghanistan after September 11, 2001 may be eligible to receive the Iraq and Afghanistan Service Grant. You must be under 24 years old or enrolled at least part-time in college at the time of your parent's or guardian's death. The grant award is equal to the amount of a maximum Pell Grant for the award year.

 

STATE Of GEORGIA PROGRAMS

 

HOPE Scholarship
The HOPE Scholarship is funded by the Georgia Lottery for Education and is available only to degree-seeking undergraduate students who meet the definition of a Georgia Resident for HOPE Scholarship Purposes.

 

Eligibility
HOPE Scholarship recipients must have a cumulative 3.0 GPA at the end of each spring semester to continue eligibility. In addition to these requirements, traditional and nontraditional students must have a 3.0 cumulative HOPE GPA after the 30th, 60th, and 90th attempted hour. If the student does not meet the GPA requirements at 90 hours, he/she cannot regain his/her eligibility.

 

In all cases, a student must be a U.S. Citizen or an Eligible Non-Citizen and meet the requirements to be classified as a Georgia resident for either 12 or 24 consecutive months immediately prior to the first day of classes of the school term for which the HOPE Scholarship is sought.

 

Additional eligibility requirements:

  • Be enrolled at a  eligible postsecondary institution in matriculated status leading to a degree.
  • Be a legal resident of Georgia for tuition purposes.
  • Register with Selective Service (men only).
  • Be in compliance with the Georgia Drug-Free Post- secondary Education Act of  1990.
  • Not be in default or owe a refund on a federal or state financial aid program.
  • Not have a bachelor’s degree.
  • Maintain Satisfactory Academic Progress.

 

HOPE Scholarship Application Deadlines

Students must have an application submitted by the last day of the semester in which they are seeking the HOPE Scholarship.

 

Note: If additional information is required, it must be submitted within 10 days of request.

 

Morehouse College has a  Plus/Minus grading system, however, for the purpose of calculating the cumulative GPA for HOPE Scholarship eligibility only letter grades of A – F will continue to be used and Plus/Minus will not be considered.

 

Award Amounts
Award amounts vary and are determined by the State.

 

Length of Scholarship
For the school term in which a student reaches the Attempted-Hours or Combined Paid-Hours limit of 127 semester hours, the student can be paid ONLY for the hours up to the Attempted-Hours or Combined Paid-Hours limit. Example: There are no exceptions covering extra hours needed for dual-degree programs, second majors, or change in major.

 

Once a student reaches either the Attempted-Hours limit or the Combined Paid-Hours limit, he or she is no longer eligible for the HOPE Scholarship.

 

Attempted Hours Limit
All credit hours attempted after high school graduation are calculated when determining  eligibility, even if they are not accepted by Morehouse College, Credits hours forgiven by the institution are included in the calculations. It is the student’s responsibility to ensure that Morehouse College has transcripts from all institutions of higher learning (post high school graduation) in order for the Office of Financial Aid to accurately determine the student’s eligibility. Eligibility ends when a student attempts 120 credit hours.

 

NOTE: The HOPE GPA does not necessarily match the cumulative GPA shown in BANNER. Please contact Office of Financial Aid with inquiries regarding your HOPE GPA.

 

Regaining Eligibility for the HOPE Scholarship
Students who lose the HOPE scholarship at a 30, 60 or 90 hour checkpoint, or an End-of-Spring checkpoint may regain eligibility if they have a 3.0 at the point of attempting 60 or 90 semester hours.

 

After a student has attempted 90 credits, he or she cannot be reevaluated. Students who lost the HOPE Scholarship at one of the checkpoints and now have a 3.0 at 60th or 90th check point are required to notify the Office of Financial Aid to be reviewed again for HOPE eligibility

 

For More Information
For more information on the HOPE Scholarship, or to view the HOPE regulations, please contact the Georgia Student Finance Commission (GSFC): 770-724-9000 or 800-505-GSFC (4732) or http://www.gacollege411.org/

 

Zell Miller Scholarship
The Zell Miller Scholarship is funded by the Georgia Lottery for Education and is administered by the Georgia Student Finance Commission. The Scholarship is available only to degree-seeking undergraduate students who meet the definition of a Georgia Resident for HOPE Scholarship purposes.

 

The Zell Miller Scholarship is a merit-based scholarship program with specific academic and grade point average eligibility requirements. The purpose of the program is to encourage the academic achievement of Georgia’s high school students and Georgians seeking degrees from postsecondary institutions located in Georgia.

 

Eligibility
In all cases, a student must be a U.S. Citizen or an Eligible Non-Citizen and meet the requirements to be classified as a Georgia resident for either 12 or 24 consecutive months prior to the first day of classes of the school term for which the Scholarship is sought.

 

Graduated from an eligible high school in 2011 or beyond:
Have at least a 3.7 HOPE GPA and a 1200 on the Math and Reading portions of the SAT or a 26 composite on the ACT OR graduate as the Valedictorian or the Salutatorian from an eligible high school OR graduate from an ineligible high school with a 1200 on the Math and Reading portions of the SAT or a 26 composite on the ACT AND achieve at least a 3.3 HOPE GPA at the 30 semester hour check-point in college.

 

First entered college in 2007 or beyond:
Have at least a 3.7 HOPE GPA and a 1200 on the Math and Reading portions of the SAT or a 26 composite on the ACT or having graduated as the Valedictorian or the Salutatorian from an eligible high school AND must have had at least a 3.3 postsecondary HOPE GPA at the most recent check-point.

 

Note: If a student did not or does not graduate from high school academically eligible for Zell Miller, then the student can never earn Zell Miller. Students may get awarded Zell Miller or HOPE Scholarship, but not both.

 

Additional eligibility requirements:

  • Be enrolled at an eligible postsecondary institution in a matriculated status leading to a degree.
  • Be a legal resident of Georgia for tuition purposes.
  • Register with Selective Service (men only).
  • Be in compliance with the Georgia Drug-Free Post-secondary Education Act of 1990.
  • Not be in default or owe a refund on a federal or state financial aid program.
  • Not have a bachelor’s degree.
  • Maintain Satisfactory Academic Progress.
  • Maintain a 3.3 GPA in college at all checkpoints.

 

Zell Miller Scholarship Application Deadlines
Students must have an application submitted by the last day of the semester in which they are seeking the Zell Miller Scholarship.

 

Note: If additional information is required, it must be submitted within 10 days of request.

 

Morehouse College  has a Plus/Minus grading system, however, for the purpose of calculating the cumulative GPA for Zell Miller Scholarship eligibility only letter grades of A – F are used and Plus/Minus will not be considered.

 

Award Amounts
Award amounts are determined by the State.

 

Length of Scholarship
For the school term in which a student reaches the Attempted-Hours or Combined Paid-Hours limit of 120 semester hours, the student can be paid ONLY for the hours up to the Attempted-Hours or Combined Paid-Hours limit. There are no exceptions covering extra hours needed for dual-degree programs, second majors, or change in major.
Once a student reaches either the Attempted-Hours limit or the Combined Paid-Hours limit, he or she is no longer eligible for the Scholarship.

 

Attempted-Hours Limit
All credit hours attempted after high school graduation are calculated when determining Zell Miller eligibility, even if they are not accepted by Morehouse College, taken outside of the state of Georgia or at an institution in a foreign country or unaccredited institution. Credits hours forgiven by the institution are included in the calculations. It is the student’s responsibility to ensure that Georgia State has transcripts from all institutions of higher learning (post high school graduation) in order for the Office of Financial Aid to accurately determine the student’s Zell Miller eligibility. Eligibility ends when a student attempts 127 credit hours, even if Zell Miller funds did not pay for those credits.

 

NOTE: The required Scholarship GPA does not necessarily match the cumulative GPA shown in BANNER. Please contact the Office of Financial Aid with inquiries regarding your Scholarship GPA.

 

Combined Paid-Hours Limit
All hours for which students received payment from Zell Miller or HOPE Scholarship program are included in calculating the total Combined Paid hours.

 

Regaining Eligibility for the Zell Miller Scholarship
Students who lose the Zell Miller Scholarship at any checkpoint may still get HOPE Scholarship, assuming all requirements, including the 3.0 HOPE GPA, are met.
A student may regain the Zell Miller Scholarship after losing it at a checkpoint only one time. A student may regain eligibility if they have a 3.3 at the point of attempting 60 or 90 semester hours.

 

If a student loses the Zell Miller Scholarship a second time, the student may still keep the HOPE Scholarship, assuming all requirements, including the 3.0 HOPE GPA, are met.
When a student loses Zell Miller and HOPE Scholarship, simultaneously by dropping below a 3.0 HOPE GPA, the student would be considered as losing both Zell Miller and HOPE Scholarship. If a student loses Zell Miller and retains HOPE Scholarship, but then loses HOPE twice, the student would no longer be eligible to regain Zell Miller.

 

For More Information
For more information on the Zell Miller Scholarship, or to view the Zell Miller Scholarship regulations, please contact the Georgia Student Finance Commission (GSFC): 770-724-9000 or 800-505-GSFC (4732) or www.gacollege411.org
 
Georgia Tuition Equalization Grant Program
The Georgia Tuition Equalization Grant is funded by the State of Georgia to Georgia resident students who meet the residency status, academic classification, minimum academic load, and other eligibility requirements. The amount is stipulated by the state legislature each year. Students must be enrolled in 12 credit hours.

 

 

INSTITUTIONAL PROGRAMS

Morehouse Special Grants- Institutional grant based on need ranging from $200 to $10,000.00

 

MOREHOUSE COLLEGE SCHOLARSHIPS

 

The Morehouse Academic Scholarship Programs (MASP)
provides renewable scholarships to first-time freshman. Please contact the Admissions Office for details requirements and policies. Also, check with your individual departments to find out about scholarships they administer and obtain instructions on how to apply.

 

MOREHOUSE COLLEGE RESTRICTED SCHOLARSHIP

Students who wish to apply for a Restricted Scholarship should complete the application and submit to financial aid by February 15th. The application can be found on the Morehouse website under financial aid forms.

 

Outside Scholarships
Morehouse College has a large listing and links to outside scholarships on the financial aid website. Please use these links to apply for scholarships that you feel you may be eligible to be awarded.

 

LOANS

 

Direct Stafford

Direct Stafford Loans, issued from the William D. Ford Federal Direct Loan Program, are low-interest loans for eligible students to help cover the cost of higher education at a four-year college. Eligible students borrow directly from the U.S. Department of Education through Morehouse College. Direct Stafford Loans include the following Direct Subsidized Loans (loans for students with financial need) and Direct Unsubsidized Loans (loans for students without financial need). Both require the completion of the Free Application for Federal Student Aid (FAFSA).

 

The Direct Subsidized Loans are for students with financial need. Students are not charged interest while enrolled in school at least half-time and during grace and deferment periods.

 

The Direct Unsubsidized Loans accrues (accumulates) interest from the time it's first paid out. You can pay the interest while you are in school, during grace periods, and deferment or forbearance periods, or you can allow it to accrue and be capitalized (added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay.

 

Students receiving a Stafford Loan for the first time must complete a Master Promissory Note(MPN) online. The MPN is a legal document in which the student promises to repay the loan and any accrued interest and fees to the Department. It also explains the terms and conditions of the loan.

 

There are limits on the maximum amount you are eligible to receive each academic year (annual loan limit) and in total (aggregate loan limits). The actual amount you can borrow each year depends on your year in school, whether you are a dependent or independent student and other factors. Depending on your financial need, you may be eligible to receive a subsidized loan for an amount up to the annual subsidized loan borrowing limit for your grade level of study. If you have education expenses that have not been met by subsidized loans and other aid, you may also receive an unsubsidized loan as long as you don't exceed the combined subsidized and unsubsidized annual loan limits.

 

Annual Maximum and Aggregate Limits: The following chart provides the annual maximum and aggregate loan limits for Subsidized and Unsubsidized Federal Direct Stafford Loan:

 

 

Classification

 

Dependent Undergraduate Student

 

Independent Undergraduate Student

Freshmen
0-25 earned credits

 

$5,500—No more than $3,500 of this amount may be in subsidized loans.
$4,000- Parent PLUS Denial

 

$9,500—No more than $3,500 of this amount may be in subsidized loans.

Sophomore
26-57 earned credits

 

$6,500—No more than $4,500 of this amount may be in subsidized loans.
$4,000-Parent PLUS Denial

 

$10,500—No more than $4,500 of this amount may be in subsidized loans.

Junior/ Senior
58-89+ earned credits

 

$7,500—No more than $5,500 of this amount may be in subsidized loans.
$5,000- Parent PLUS Denial

 

$12,500—No more than $5,500 of this amount may be in subsidized loans.

Aggregate Limit

 

$31,000—No more than $23,000 of this amount may be in subsidized loans.

 

$57,500—No more than $23,000 of this amount may be in subsidized loans.

 

Parent PLUS

Parents of dependent students may apply for a Direct PLUS Loan to help pay their child's education expenses. The annual limit on a PLUS Loan is equal to the student's cost of attendance minus any other financial aid the student receives. For example, if the cost of attendance is $6,000 and the student receives $4,000 in other financial aid, the student's parent can request up to $2,000.

 

The Department of Education will send the loan funds to the student's school. In most cases, the loan will be disbursed in at least two installments, and no installment will be more than half the loan amount. The school will use the loan money first to pay the student's tuition, fees, room and board, and other school charges. If any loan funds remain, the parent will receive the amount as a check or other means, unless he or she authorizes the amount to be released to the student or transferred into the student's account at the school. Any remaining loan funds must be used for the student's education expenses.

 

The interest rate is fixed at 7.9%. Interest is charged from the date of the first disbursement until the loan is paid in full. The parent will pay a fee of 4.288% of the loan amount, deducted proportionately each time a loan disbursement is made. The repayment period for a Direct PLUS Loan begins when the loan is fully disbursed, and the first payment is due 60 days after the final disbursement. However, for Direct PLUS Loans with a first disbursement date on or after July 1, 2008, the parent may defer repayment while the student on whose behalf the parent borrowed the loan is enrolled on a half-time basis, and for an additional six months after the student, ceases to be enrolled at least half-time.

 

Eligibility

  • The parent borrower must be the student's biological or adoptive parent. In some cases, the student's stepparent may be eligible.
  • The student must be a dependent student who is enrolled at least half-time.
    Generally, a student is considered dependent if he or she is under 24 years of age,  
    has no dependents, and is not married; a veteran, a graduate or professional degree student or a ward of the court.
  • The parent borrower must not have an adverse credit history (a credit check will be done). If the parent does not pass the credit check, the parent may still receive a loan if someone (such as a relative or friend who is able to pass the credit check) agrees to endorse the loan. The endorser promises to repay the loan if the parent fails to do so.
  • The student and parent must be U.S. citizens or eligible non-citizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the federal student aid programs.
  • The parent must complete a Direct PLUS Loan Application and Master Promissory Note. The MPN is a legal document in which the borrower promises to repay the loan and any accrued interest and fees to the Department. It also explains the terms and conditions of the loan. In most cases, one MPN can be used for loans that a parent receives over multiple academic years although a separate Loan Request must be filed for each school year.

 

Perkins

A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with exceptional financial need demonstrated through completion of the Free Application for Federal Student Aid (FAFSA). Federal Perkins Loans are made through a school's financial aid office. Your school is your lender, and the loan is made with government funds. You must repay this loan to your school. You can borrow up to $5,500 for each year of undergraduate study (the total you can borrow as an undergraduate is $27,500). The amount you receive depends on when you apply; your financial need; and the funding level at the school. If you're attending school at least half time, you have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment.

 

EMPLOYMENT 

 

Federal Work-study Program

Federal Work-Study (FWS) is a federally funded program that provides part-time job opportunities for undergraduate students with financial need; allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the recipient's course of study. Eligibility is determined by the completion of the FAFSA, enrollment status, and Satisfactory Academic Progress. ONLY students qualified by the Office of t Financial Aid are eligible to participate in the program.

 

Qualified students who accept FWS must come to the Office of Financial Aid to get their contracts. The contract has to be signed by the Student, Work-Study Manager, and their Supervisor. This contract must be returned to the Office of Financial Aid before the student begins working. Students are paid by the hour. Hourly pay rates are based on the students experience level and range from $7.25-$10.00 per hour. Student cannot exceed 20 hours per week during the academic year. The amount of FWS earned can't exceed the total award amount. FWS students are paid bi-weekly and must submit time sheets signed by the student and the Supervisor. When assigning work hours, students and their employer should consider the students award amount, class schedule, and academic progress. If a student works off campus, their employer will usually be a private nonprofit organization or a public agency, and the work performed must be in the public interest

 

Institutional Employment

Institutional jobs are part time hourly jobs on campus available to any student currently registered at Morehouse College in good academic standing (minimum 2.0 cumulative GPA). These positions are part-time positions paid directly out of the hiring department’s budget. Hourly pay rates will vary depending on the department’s budget, student’s experience level, and the required duties and responsibilities of the positions. Student employees may not work more than 20 hours a week during the academic year. Students are paid bi-weekly and must submit a timesheet signed by the student and the Supervisor.