Removing Financial Barriers
Carolina knows that students from low-income families face extra challenges when it comes to paying for college. The Covenant addresses these financial challenges in two ways.
- First, Covenant Scholars receive financial aid that meets 100 percent of their financial need – without loans. Covenant Scholars can enroll at Carolina with confidence that they can afford to attend and that they can graduate without education debt.
- Second, financial aid staff are available to answer questions, help with budgeting, or to address emergencies or unusual circumstances. Leading the financial aid staff in this effort is Ann Trollinger, Associate Director in the Office of Scholarships and Student Aid.
The Covenant Financial Aid Award
Covenant Scholars receive a combination of grants, scholarships, and/or Work-Study that meets 100 percent of their financial need. “Financial need” is the difference between the amount it costs to attend Carolina for an academic year and the amount the family is expected to pay, based on its financial circumstances.
- When it estimates the cost of attendance, Carolina includes not only tuition and mandatory fees, but also allowances for housing, food, books and supplies, transportation, and personal expenses.
- The amount the family is expected to contribute is based on information reported on the financial aid application. The amount is determined by a formula that considers the family’s income, other resources, and factors that impact its ability to pay for college costs. For many Covenant Scholars, the expected family contribution is $0; however some families are expected to pay a modest amount.
- Carolina awards Covenant Scholars a combination of grants, scholarships, and/or Work-Study totaling 100 percent of the difference between the recognized cost of attendance and the expected family contribution – without student loans.
Work-Study is an important part of the Carolina Covenant financial aid award. Besides helping students earn a part of their educational expenses, research shows that students who work a reasonable number of hours do better in school and are more likely to graduate than those who do not work or those who work too many hours.
Unless their financial need is met with grants and outside scholarships, Covenant Scholars are awarded the amount of Federal Work-Study they can earn by working 10-12 hours per week during the academic year.