elon.edu/finaid // finaid@elon.edu

& 2011–2012 Financial Aid Application

Opportunities for Financial Assistance

Contents

3 What is financial aid?

3 Our commitment

3 Am I eligible to receive financial aid?

4 How do I apply for financial aid?

5 What options are available if I qualify for need-based financial aid?

7 What scholarships and grants not based on need are available?

9 What are my sources of fundraising for college?

11 How do I make payments?

11 What else do I need to know?

15 The Elon Pledge: Values and Value

Opportunities for Financial Assistance & 2011–2012 Financial Aid Application

elon.edu/finaid // finaid@elon.edu

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What is financial aid?

Financial Aid encompasses the options available to finance a college education. Financial Aid is generally divided into two categories: aid not based on need and aid based on demonstrated financial need. You might qualify for any number of scholarships, grants, loans and/or credits to help finance college expenses. This publication will help you learn more about the opportunities available to you, and will help you understand the process of qualifying for and obtaining financial aid.

Our commitment

For decades, our first financial aid policy has been to keep the cost of an Elon education reasonable – often as much as $10,000 below other private colleges and universities our applicants consider. That in itself makes a big difference in what you will invest. And our families tell us it is a policy they appreciate.

You may receive larger scholarships and need-based awards from other schools. We simply ask that you compare the bottom line – what you will actually invest – in one of the highest quality educations in the U.S. If you enroll, our commitment is that you will receive the best possible education for the most reasonable cost possible.

Am I eligible to receive financial aid?

The section below explains how your personal profile will be used to calculate your eligibility for assistance in financing your college education.

Understanding Need-Based AidAt Elon, financial need is divided into two components: federal and institutional. For federal student aid programs (Pell Grants, SEOG, Perkins Loans, Federal Work-Study, Stafford Loans, etc.), need is determined by use of the Free Application for Fed-eral Student Aid (FAFSA). The FAFSA asks for information concerning income, assets, size of family, number

in college, etc. Using this informa-tion, a uniform federal formula is applied to derive the Expected Family Contribution (EFC) – the amount the federal programs expect the student and family to contribute annually toward the student’s education.

For all other types of need-based aid, including Elon University funds, financial need is determined by use of the Financial Aid PROFILE from

the College Scholarship Service (CSS). In addition to the information gathered on the FAFSA, the PROFILE asks for information concerning home ownership, prior and future earnings and expenses, etc. Like the FAFSA, the PROFILE applies a uniform formula to this information to derive an EFC. The EFC as determined by the PROFILE form may be less than, about the same as or more than the federal EFC depending on a variety of differ-ent family financial circumstances.

Elon University 2010–2011

Tuition and Fees $ 26,827

Room and Board $ 8,648

Total $ 35,475

Less N.C. State Grant –$ 1,850

Total for N.C. residents $ 33,625

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Determining Financial NeedFinancial need is determined by subtracting the EFC from Elon’s Cost of Attendance.

Cost of Attendance– Expected Family Contribution

= Financial Need (The amount of financial aid eligibility)

Determining Cost of AttendanceIn determining the cost of attendance, estimated expenses not billed by or paid to the school are included in addition to direct costs for tuition, fees, room and board. Estimated expenses

for 2010–2011 are $900 for books, $1,100 for transportation and $1,500 for miscellaneous personal expenses.

Total (Out-of-State Students) $ 35,475Books $ 900Transportation $ 1,100Personal Expenses $ 1,500

Official total cost of attendance $ 38,975

The Financial Aid PackageStudents with financial need will be offered a financial aid “package” consisting of one or more of the follow-ing types of aid: scholarships, grants,

low-interest loans and campus employ-ment. Scholarships and grants are “gift” assistance and do not have to be repaid, while loans and work are referred to as “self-help.” Financial aid packages may consist of all self-help or a combina-tion of self-help and gift assistance.

Without a sizeable endowment, Elon is not always able to provide a student the financial assistance we would like to be able to offer, nor are we usually able to meet need. How-ever, our admissions policy remains need-blind, and our commitment to providing every student with the highest quality education for the lowest possible price remains firm.

How do I apply for financial aid?

Once you understand the different categories of financial aid and the process of determining eligibility, you’re ready to begin the application process. Elon recommends you apply early for financial aid and take advantage of Web-based application opportunities to expedite the process. Do not wait until you have been accepted to apply for aid.

Applying for need-BAsed AidApplying early for financial aid improves your chances of receiving the maximum aid for which you are eligible.

We give priority to applications that are complete, in our office and ready for our review by mid-March. To meet this deadline, you should complete and submit all applications and forms no later than mid-February. Forms are available online in January.

No aid is awarded until the student has been accepted for admission to Elon University; how-ever, do not wait until you have been accepted to apply for aid.

The FAFSA can be obtained from virtually any high school guid-ance office, many public libraries

and Elon. Both the FAFSA and the PROFILE are available online.

If you are interested in federal aid only, complete and submit the FAFSA as soon as possible after January 1, but before mid-February. Elon’s FAFSA federal Title IV school code is 002927. (fafsa.gov)

If you are interested in all types of aid, complete and submit both the PROFILE and the FAFSA as soon as possible after January 1, but before mid-February. Elon’s CSS PROFILE code is 5183. The PROFILE is available online only and costs $18 plus $5 for each school or scholarship program selected. (profileonline.collegeboard.com)

Before mid-March, complete and submit an Elon University Financial Aid Application. (elon.edu/finaid)

Notify Elon’s Office of Finan-cial Planning of any scholarships, grants, loans or other assistance you will be receiving from any source other than Elon. Such notification is required by federal regulation as well as institutional policy.

UsefUl Tips for An eAsier, fAsTer ApplicATion

File Your FAFSA on the Web (fafsa.gov)FAFSA on the Web is an Internet application developed by the U.S. Department of Education. Students and parents can use this application to complete an electronic Free Applica-tion for Federal Student Aid (FAFSA) and submit their FAFSA information directly to the Department of Edu-cation’s Central Processing System (CPS). The CPS will determine eligibil-ity for federal financial aid within 72 hours of receiving the completed application and forward that infor-mation electronically to the schools

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the student listed on the application. Students and parents may complete the Internet application on or after January 1. List Elon as the recipient.

File Your PROFILE on the Web (profileonline.collegeboard.com)Elon requires all first-time financial aid applicants who wish to be consid-ered for non-federal need-based aid to file the CSS PROFILE form. Students and parents must access PROFILE Online via the College Board Web site, profileonline.collegeboard.com. There is a cost for this form and payments must be made by credit card. PROFILE registration begins on October 1. CSS can be contacted at 305-829-9793.

Double Check EverythingMistakes and errors in filling out the application forms are by far the

most frequent causes for delays in the application process. Read all the instructions before filling out the forms. Before submitting the FAFSA and PROFILE forms, double check both the instructions and the informa-tion you provided for accuracy.

Mistakes and errors will cause your application to be delayed, and this may well result in missing priority deadline dates. When you receive the output documents from the processors, read all comments, check the information again and immediately correct any errors.

Getting Help and Helpful InformationDespite the vast and often times con-fusing array of information available in publications and on the Internet, asking someone in person is often the

best means for getting the help and information you need. High school guidance counselors are an excellent source of information and can help with many of the basic questions you may have. College financial aid officers are another excellent source of information and guidance. Contact Elon’s Office of Financial Planning if you have questions or circumstances that do not seem to be addressed on a form. Our financial aid counselors will most likely have the answer.

Financial Aid Nights, hosted by your local high school, present another outstanding opportunity to get the personal attention and help you may need. These events typically feature an experienced financial aid officer from a nearby college who will make a presentation and answer individual questions.

What options are available if I qualify for need-based financial aid?

elon, federAl And sTATe grAnT progrAmsTo receive the following types of grant assistance, students must apply for need-based aid and demonstrate financial need. Scholarship and grant money does not need to be paid back.

The Odyssey Program and the Watson Scholarship ProgramRecipients of select Elon University endowed scholarships will participate in either the Odyssey Program or Watson Scholarship Program. Both programs provide additional finan-cial, academic, social and mentoring/advising support to ensure students have the opportunity to fully partici-pate in Elon’s many rich experiences. Recipients are expected to contrib-ute to the intellectual and social climate of the university through

their active campus citizenship. The programs are very similar in terms of activities and support, and each maintains small, close-knit cohorts.

For consideration as a scholarship recipient in one of these programs, students must complete the Elon University Endowed Scholarship Application and all required finan-cial aid forms: the FAFSA, CSS Profile and the Elon University Financial Aid Application by February 10. The Elon University Endowed Scholar-ship Application may be obtained in

the Office of Admissions or online at elon.edu/endowedscholarships. Upon completion and submission of this application and the required financial aid documents, the Scholarship Com-mittee will consider your application for the following need-based awards:

O d y s s e y P r O g r a m

The John L Georgeo ScholarshipThe Georgeo Scholarship will be awarded annually to two incoming students of outstanding character who show academic promise and talent or leadership experience valued by the Elon community. Two scholarships of $7,500 each will be awarded annually. These scholarships are for tuition only and are renewable annually based on academic performance, financial need,

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citizenship and full-time enrollment. Each recipient is also entitled to a one-time $4,000 study abroad grant as long as the student remains eligible to retain the Georgeo Scholarship Award.

Margaret Ann Hall Scholarship (for women from Virginia)The Margaret Ann Hall Scholarship is designated for a worthy female student from Virginia with dem-onstrated financial need. The Hall Endowed Scholarship is a full-tuition scholarship and also carries an Elon Experiences grant of $4,000, which may be used for a university-approved study abroad, internship, research, service or leadership experience. One scholarship is awarded and it is renewable annually. A new recipient is selected every fifth year and the next anticipated award date is April 2012.

The Mac Mahon Family ScholarshipThe Mac Mahon Family Scholar-ship is designated for students with significant financial need who reside in Alamance County, N.C., in Essex and Hudson counties, N.J., or other identified counties in urban areas of northern New Jersey. Each year one student will be selected to receive this $10,000 scholarship, plus a $4,000 Elon Experiences grant, which may be used for a university-approved study abroad, internship, research, service or leadership experience.

The Susan Scholarship (for women)The Susan Scholarship is for young women of potential whose personal financial circumstances would otherwise make an Elon education inaccessible. Each year four $12,000 scholarships will be awarded. In addition, each recipient will be given a $4,000 Elon Experiences grant, which may be used for a university-approved study abroad, internship, research, service or leadership experience.

The Honorable Thad Eure North Carolina Achievement Scholarship (for N.C. students in a 13-county region)The Honorable Thad Eure Scholar-ship honors North Carolina’s former Secretary of State who served as an Elon trustee for 47 years. Applicants must reside in Alamance, Caswell, Chatham, Davidson, Durham, For-syth, Gates, Guilford, Orange, Person, Randolph, Rockingham or Wake counties and graduate from a North Carolina high school. Three $12,000 Eure Scholarships will be awarded each year to applicants with high financial need and academic talent. The Eure Scholarship also includes a $4,000 Elon Experiences grant, which may be used for a university-approved study abroad, internship, research, service or leadership experience.

W a t s O n P r O g r a m

The Leon and Lorraine Watson Scholarship Program (for N.C. Students)The Leon and Lorraine Watson North Carolina Scholarship Program awards eight scholarships with a guaranteed total grant award of $10,000 annually to North Carolina students who have promising academic records and high financial need. In addition, recipients may be awarded other scholarships and grants that, when combined with the Watson Scholarship and other institutional aid, may cover up to the full cost of tuition, fees, room and board. The Watson Scholarship also includes a $4,000 study abroad grant, which may be used for a university-approved study abroad experience.

federAl grAnT progrAmsStudents must file the FAFSA and the Elon Financial Aid Application to be considered for these funds.

Federal Pell GrantFor students with substantial financial need, Pell Grants provide from $555 to $5,550 annually.

Federal Supplemental Educational Opportunity Grants (SEOG)Federal funds given to and awarded by the school to Pell-eligible students. Amounts vary.

TEACH GrantThrough the College Cost Reduction and Access Act of 2007, Congress cre-ated the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or second-ary school that serves students from low-income families. As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obliga-tion, all amounts of TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed. Note: TEACH Grant recipients will be given a 6-month grace period prior to entering repayment if a TEACH Grant is con-verted to a Direct Unsubsidized Loan.

sTATe progrAmsStudents must file the FAFSA and the Elon Financial Aid Application to be considered for these funds.

N.C. Contractual Scholarship FundFunds provided by the North Carolina General Assembly and given to the school to award to N.C. residents with financial need. Amounts vary.

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N.C. Education Lottery ScholarshipThe North Carolina Education Lot-tery will fund scholarships up to $2,500 for students with significant financial need. The scholarship is awarded on a varying scale to stu-dents with a FAFSA expected family contribution of $5,000 or less.

N.C. Student Incentive GrantFor N.C. residents, grants of $700 annually to high-need stu-dents. Eligibility is determined by the State of North Carolina.

Maryland, Pennsylvania, Rhode Island & Vermont State GrantsFor students who are residents of these states. Amounts vary. For more information, check with your high school guidance counselor.

sATisfAcTory AcAdemic progress To maintain financial aid eligi-bility, students must remain in satisfactory academic standing.

Satisfactory Academic Progress is required for eligibility for any Elon administered financial aid. Students who do not maintain these standards will be ineligible for any federal, state or Elon-funded aid. Satisfactory Academic Progress evaluates both the quality (quality point balance) and the quantity (credit hours earned versus credit hours attempted) of the student’s academic work. Progress is evaluated at the end of each academic year. For more information, contact the Office of Financial Planning.

What scholarships and grants not based on need are available?

scholArships And grAnTs noT BAsed on needScholarships and grants – money that does not have to be repaid – are naturally the most sought-after type of assistance. Listed below are the various sources of non need-based aid available to Elon students.

elon UniversiTy meriT-BAsed scholArships

Presidential Scholarships $4,000 to $4,500 Annually Presidential Scholarships of $4,000 to $4,500 annually are awarded to approximately the top 15 percent of the freshman class each year. The awards are based on high school grades, course selection and SAT/ACT scores. No separate application is needed. Scholarships are automati-cally awarded to students who meet the necessary academic criteria when the completed admissions applica-tion is reviewed. All Presidential Scholarships are renewable for an additional three years pending acceptable academic performance.

Engineering Program Scholarships $7,000 AnnuallyTwo scholarships of $7,000 annu-ally are awarded to outstanding students admitted into Elon’s Dual-Degree Engineering Program. These scholarships are renewable while the student is in attendance at Elon and are awarded in addition to any Presidential Scholarship that has been received. The application may be obtained at elon.edu/engineering.

Please note: Because engineering majors are enrolled at Elon for only three years, they are NOT eligible for the Fellows Programs listed below.

Fellows Scholarships $2,500 to $10,000 AnnuallyElon’s Fellows Programs offer exciting academic and personal growth oppor-tunities beyond the scope of the usual college experience – opportunities like

$1,000 study abroad grants, special courses, professional internships or paid research assistantships. In addi-tion, each of the Fellows Programs offers a limited number of scholar-ships to selected incoming Fellows. To be considered for one of these schol-arships, students must apply and be admitted to the Fellows Program. The scholarships are renewable for an addi-tional three years provided that all program requirements are met. Some Fellows scholarships are awarded in addition to any Presidential Scholar-ship that has been received. Teaching Fellows may not retain the Presiden-tial Scholarship if they are awarded the Teaching Fellows Scholarship because the Teaching Fellows Scholar-ship replaces the Presidential award.

Applicants wishing to apply for Fellows scholarships should complete and submit a Fellows application postmarked no later than January 10. Applications may be obtained from Elon’s Office of Admissions or online at elon.edu/fellows. Selected applicants for each program are invited to attend Fellows & Scholarship Weekend in March. From these finalists, Fellows

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and Fellows scholarship winners are selected on the basis of the applica-tion, qualifications and an interview. For more information, contact the Office of Admissions, 800-334-8448.

Honors FellowsForty scholarships of $10,000 annu-ally are awarded to incoming Honors Fellows each year. One Honors Fellow in each class is selected as the Wil-liam R. Kenan Jr. Honors Fellow and receives a full-tuition scholarship, replacing any merit-based award a student may have received.

Elon College FellowsFifty scholarships of $3,500 annu-ally are awarded to incoming Fellows each year. Elon College Fellows must major in the arts or humanities, social sciences or math-ematical and natural sciences.

Jane M. Baird Pre-Medical Scholarships for Honors or Elon College FellowsTwo scholarships of $3,000 annu-ally are awarded to either Honors or Elon College Fellows who intend to go to medical school.

Business FellowsSeven scholarships of $3,500 to $4,000 annually are awarded to incoming Fellows. Business Fellows must major in accounting, econom-ics, entrepreneurship, finance, management or marketing.

Communications FellowsFive scholarships of $3,500 annually are awarded to incoming Fellows each year. Fellows must major in journalism, strategic communica-tions, media arts and entertainment or communication science.

Isabella Cannon Leadership FellowsFive scholarships of $2,500 annually are awarded to incom-ing Fellows each year.

International FellowsThese students must either be non-U.S. citizens or dual citizens (students who hold U.S. citizenship and citizenship in another country). Dual citizens must have completed the majority of their schooling outside the U.S., including all secondary/high school years and preferably in a non-English based curriculum.All 20 International Fellows receive one $1,500 Elon Experiences grant, and 15 of the Fellows will also receive a $3,500 scholarship renewable annually as long as the student remains in good standing.

Teaching FellowsTeaching Fellows receive a $6,500 Elon scholarship for four years plus airfare to England or Costa Rica for one semester, and program-related expenses for two required Winter Term courses – the American History Study Tour and the Washington Cen-ter Leadership Seminar. The $6,500 grant replaces any Presidential Schol-arship a student may have received.

North Carolina Teaching Fellows receive an additional $6,500 from the N.C. Teaching Fellows Commission as well as the N.C. Legislative Tuition Grant ($1,850 for 2010–2011). To be considered for the North Carolina Teaching Fellows funds, the student must be a resident of North Carolina and a U.S. citizen. N.C. Teaching Fellows must teach for at least four years in N.C. public schools after graduation or repay the commis-sion’s portion of the scholarship.

N.C. Teaching Fellows are selected in a statewide competition conducted by the N.C. Teaching Fellows Com-mission. Applications for the North Carolina Teaching Fellows Program must be obtained from your guid-ance counselor. The deadline for applying to the state Teaching Fel-lows Commission is mid-October.

Applicants from out of state will be selected to compete for the Elon University Fellows

Weekend. Fellows applications are due to the Elon University Office of Admissions by January 10.

Elon will admit 25 N.C. Teach-ing Fellows and one national Teaching Fellow for fall 2011.

Performing Arts Scholarships $500 to $6,000 AnnuallyStudents seeking a B.F.A. in theatre arts or music theatre may apply for talent-based scholarships, which are renewable for an additional three years. The scholarships range from $500 to $6,000 annually depending on the program and are awarded based on the audition. Amounts vary from $1,000 to $6,000 (music theatre) or $500 to $2,000 (theatre arts). For more information, contact the Department of Performing Arts, 336-278-5600.

Music Scholarships $500 to $8,000 AnnuallyStudents majoring in music, music education or music performance may compete for talent and need-based scholarships on the basis of letters of recommendation and an audition. Band and choral scholarships are also available to both music and non-music majors. The scholarships range from $500 to $8,000 annually. Scholarships are renewable for an additional three years. For more information, contact the Department of Music, 336-278-5600.

Athletics ScholarshipsThe Department of Athletics grants performance-based scholarships in all sports in compliance with NCAA Division I regulations and guidelines. Amounts vary. For more information, contact the Athlet-ics Department, 336-278-6800.

ROTC Four-Year AwardThe U.S. Army and Air Force offer three- or four-year scholarships, which cover the cost of tuition and books. The scholarships are awarded

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according to merit, not financial need. The three-year scholarships begin paying sophomore year, and students are responsible for all expenses during the freshman year. Some scholarships have a tuition cap that is below Elon University’s tuition. Students will be responsible for the difference in tuition costs. In addition, Elon pro-vides ROTC scholarship recipients with the equivalent of a standard double room and up to a 15-meal plan during the time the ROTC scholarship pays tuition. Recipients must be living on campus to receive the room scholar-ship. For more information, contact your high school guidance counselor or local Army or Air Force recruiter.

Other Endowed ScholarshipsCertain academic departments award scholarships of varying amounts to students with specific majors. Information may be obtained from the chair of the department.

oTher grAnTs And scholArships

North Carolina Legislative Tuition Grant Amount Varies AnnuallyEvery North Carolina resident who attends Elon as a full-time under-graduate student receives a Legislative Tuition Grant annually from the N.C. General Assembly. The amount varies annually and may range from $1,750 to $1,950 per year. A brief application must be completed at registration and submitted to the Office of Financial Planning to show legal residency.

UCC Ministerial Discount $2,000 AnnuallyFull-time students who are legal dependents of full-time ministers in the United Church of Christ are eligible for this discount. Documenta-tion of eligibility is required annually.

Private Outside Scholarships Amounts VaryFoundations, service clubs, churches and corporations give away mil-lions of dollars in scholarships each year to worthy students. Many Elon students receive this type of schol-arship in addition to other types of help they may be receiving.

Students generally seek these scholarships on their own. A good place to start is by asking your high school guidance office about com-munity scholarships and other scholarships with which they may be familiar. Ask also about the avail-ability of scholarships through places where family members are employed, through your church and through any organizations to which family mem-bers belong. Finally, go to the public library for guidebooks to scholarships from foundations, corporations and government agencies, or search the Internet for similar information.

What are my sources of fundraising for college?

Elon recommends you explore the following possibilities to ensure you have a complete understanding of the options available to you.

sTUdenT employmenT

Work-Study ProgramsStudents can help out with college expenses by working part-time while enrolled in school. Studies at Elon and elsewhere have shown students who work on campus, including freshmen, persist in their studies at a higher rate than non-working students. Working on or off campus provides students with both the personal satisfaction of investing in their education and an income to help cover personal expenses.

During a regular academic year, more than 800 students work at jobs on the Elon campus alone. Typically, students will work 10 to 20 hours per week earning between $1,000 and $2,500 per year in an office job, with campus recreation, in the library, etc. Others will work as Resident Assis-tants, where they are in charge of a floor in one of the residence halls and in return receive free housing. Many others hold jobs with local employers. In some cases, with the approval of the Director of Experiential Educa-tion, students can receive internship credit for work done on or off campus.

University supervisors in particu-lar, and many off-campus employers, recognize that students must be students first and that academic achievement is the first priority. They are very flexible in scheduling work-ing hours especially during testing and final exam times. Elon students working on campus may not work more than 20 hours per week while classes are in session, and many hold jobs requiring fewer hours per week. Students who receive work-study funds are not guaranteed a job and are responsible for finding their own jobs on campus so that their job will match their talents and interests.

Federal Work-Study ProgramAwarded to students with financial need who work on campus, and are

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paid according to hours worked. Awards vary based on amount of financial need. Students awarded Federal Work-Study are not guaran-teed a job, and work-study earnings are not paid in advance so they can-not be used to pay the direct costs (tuition, room, board, books, etc.) of the semester in which they are awarded.

Elon Work-Study ProgramSimilar to the Federal Work-Study Program except that need is not a factor in determining eligibility.

oUTside scholArships

Find Scholarship, Grant and Education Loan ProgramsHundreds of websites are set up specifically for this purpose. Start early! You can search using key words and phrases such as “schol-arships,” “student financial aid,”

“education loans,” etc. Some of the sites we have used include:

» nasfaa.org » mappingyourfuture.org » collegeboard.com » studentservices.com/fastweb » cfnc.org » wiredscholar.com » studentaid.ed.gov » finaidfacts.org

The college foUndATion of norTh cArolinA (cfnc)College Foundation of North Carolina, a nonprofit corporation serving students and families since 1955, is a free service of the State of North Carolina that helps students plan, apply and pay for college. CFNC administers a portfolio of more than $4 billion, including the state’s college grant programs and the tax-free “529” college savings program on behalf of the N.C. State Education Assistance Authority. To learn more, visit CFNC.org.

Borrowing To pAy for collegeA college education is an invest-ment. As students and parents explore academic options, many also look to borrowing as a way to finance college costs over more than four years. Borrowing is a common practice, and ensures you will have the tools necessary to earn a degree. Many loan options are available.Students and parents should care-fully consider the long-range impact of education loans and borrow no more than they need. Determine how much you can afford to pay now on a cash basis. Borrow only what you need to make up any differences.

Need-Based LoansStudents must file the FAFSA to be considered for these loans.

Federal Stafford Student Loan (subsidized)Fixed 3.4 percent interest loans awarded directly to students are avail-able through many state agencies and private lenders. Freshmen may borrow up to $3,500 annually, sophomores up to $4,500 annually, and juniors and seniors up to $5,500 annually. These loans are federally guaranteed, and no interest accrues, nor is any payment due, until six months after the student ceases to be at least a half-time stu-dent. A separate application is required.

Federal Perkins LoanFederal funds given to the school are awarded to students demonstrat-ing substantial financial need. No interest accrues, and no payment is due while the student is enrolled at least half-time. Repayment begins nine months after the student ceases to be at least a half-time student. Amounts vary from $400 to $3,000.

Non-Need-Based Loans

Federal Stafford Student Loan (unsub-sidized) from the Federal GovernmentAvailable to all students regardless of need. Loan amounts are the same as for the need-based subsidized pro-gram. Under this program, however, borrowers do not qualify for federal interest subsidy payments. Interest thus accrues while the student is in school. Repayment of principal begins six months after the student is no longer enrolled half-time. A separate application is required. Note: Independent students may apply for additional Stafford Loan funds in excess of the standard limits listed above. Contact the Office of Financial Planning for additional information.

Federal Parent Loan for Undergraduate Students (PLUS) from the Federal GovernmentParents may borrow up to the cost of attendance, less any other aid, per academic year for each dependent enrolled at least half-time. Interest rate is fixed at 7.9 percent. The bor-rower has the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or waiting until six months after the dependent student on whose behalf the parent borrowed ceases to be enrolled on at least a half-time basis.

Private Alternative Loan ProgramsElon participates in a number of other private and state-funded loan programs. In general, these programs allow for extended repayment terms. Alternative lenders are free to set their own repayment terms, interest rates, guarantee fees, etc. It is wise to com-pare several lenders to discover which ones are best suited to you. Alternative lenders often have fee and interest rate structures that are competitive with the federal loan programs.

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Unlike the Federal PLUS Loan pro-gram, one of the primary advantages of alternative loans is the ability to defer repayment of principal (and some-times interest) while the student is enrolled in school. This allows parents greater flexibility to shape their bor-rowing program to more fully conform to their current financial situation.

Another possibility is to combine a deferred payment alternative loan with a federally subsidized Stafford Loan and Elon’s monthly payment plan. This results in paying part of the costs while the student is enrolled (and saving on interest) with the remainder being paid by both student and parent in monthly installments

after the student is no longer enrolled, thus spreading the costs more evenly over several years. Students and parents interested in alternative loan plans may contact the Office of Financial Planning for additional information and suggested lenders.

How do I make payments?

Standard Payment OptionElon posts bills electronically in early July for fall semester (with a prepay-ment deadline in early August). Spring semester bills are posted in late November (with a prepayment dead-line in early January). Students who meet the prepayment deadlines and who have preregistered need not go through the registration sessions held on campus at the beginning of each semester. Any financial aid a student is receiving will be reflected on the bill as a credit against the charges.

Online Payment OptionElon offers a secure online payment option – so you can pay tuition and

fees from your home computer. Just go to https://ebill.elon.edu and follow the instructions provided in the fall e-bill. Pre-payment deadline for the fall semester is the first Friday in August.

AMS (Tuition Pay) 10-Month Payment PlanPayment plans are a valuable bud-geting aid, allowing families to spread college costs evenly over the majority of the year, rather than paying the entire cost of a semester at one time. Elon offers the Tuition Pay - Elon 10-Month Payment Plan. Payments can be spread out over a 10-month period and begin on June 1 prior to the start of the fall semester.

The cost to participate is $55 per year. Information will be mailed to all admitted students in April.

Credit CardsFor parents who desire to charge some or all costs (after any aid is subtracted) to a credit card, Elon does accept American Express, Mastercard and Discover. A 2.75 percent convenience fee will be accessed. Families who wish to avoid the fees are encouraged to use online checks or personal checks, wire transfers, or other payment options.

What else do I need to know?

freqUenTly Asked qUesTions

Q: What are the school codes for Elon University to ensure that the FAFSA and PROFILE information is received by the university?

A: Our school code for the FAFSA is 002927; for the PROFILE, 5183.

Q: Should I bother filling out the FAFSA or the PROFILE if I don’t think I will qualify for need-based aid?

A: Yes. You don’t necessarily have to have a low income to get need-based financial aid, but you do have to show a financial need.

We encourage all students and parents to file the forms, espe-cially if they have never filed before. An individual’s need will vary according to the cost of each institution to which the student is applying. Even if you don’t qualify,

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the results of the analysis may help you in your long-term plan-ning for meeting college costs.

Q: How long after I file the forms for need-based aid will I know what aid I am receiving?

A: From the time all required forms and applications are first submit-ted, it takes approximately four weeks for the information to be received by Elon. Another two weeks are required for us to pro-cess the information and, where necessary, request and receive additional information from stu-dents and parents. We will begin to post financial aid award notifica-tions according to the following schedule: new students – April 5, 2011 returning students – June 7, 2011

Q: My parents will not complete their federal tax returns before the deadline for filing the FAFSA and PROFILE. Should we wait to file these forms until their tax returns have been completed?

A: No. You can complete the FAFSA and PROFILE based on reason-able estimates of your parents’ prior year income. Later, when tax returns are complete and you receive the federal Student Aid Report and PROFILE Acknowledgement, you can make any necessary corrections.

Q: If a dependent student’s parents are divorced or separated, who should fill out the FAFSA and PROFILE?

A: The student and the parent with whom the student lived the majority of the preceding 12 months should fill out the forms. If that parent has remarried, both the parent’s and the steppar-ent’s information is required.

Q: I filed the PROFILE for the 2010–2011 academic year. Do I need to file it for subsequent years?

A: No. Elon requires the PROFILE for first-time aid applicants only.

Q: Do I have to file for need-based financial aid each year?

A: Yes. You must at least file the federal FAFSA form and the Elon Financial Aid Application for each year you wish to receive such aid.

Q: We missed the deadlines for apply-ing for aid. Can we still apply now?

A: Yes. The deadlines are for priority consideration only. You may apply at any time during the academic year. However, Elon’s financial aid resources are limited, and we might not be able to award you the aid for which you would have otherwise been considered.

Q: Does Elon University negoti-ate its financial aid awards for potential freshmen, particularly if I received a higher award from another institution?

A: No. In order to maximize our limited financial aid resources,

Elon personally reviews each of its financial aid offers and makes its best offer up front. If a family’s financial situation should change, we will review the aid award at the family’s written request.

Q: I received a scholarship from a source other than Elon. Will this affect my award from Elon?

A: In most cases it will not. In those cases where we are required to reduce part of our previous award, Elon first reduces student loans and/or work. Only where absolutely necessary will we reduce a scholarship or grant.

Q: My award notice from Elon contains Federal Work-Study funds. Does this mean I am guaranteed a job?

A: No. If your award includes Federal Work-Study funds (FWSP), the amount represents the amount you are eligible to earn during the academic year. It is not a guarantee of a job. Students who wish to work on campus should check the job board in Duke Building, call the Student Job Line (336-278-5577), visit elon.edu/campusjobs or check the postings on Elon Student Television. After finding a job in which you might be interested, you will interview with the appropriate supervisor. Earnings are paid to students throughout the year and cannot be used to defer payment of any portion of the university’s charges.

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Student’s Name LAST FIRST MIddLE

Social Security # Date of Birth

Permanent Mailing Address NUMbER STREET APT. NUMbER

CITy STATE ZIP COdE PHONE NUMbER

COUNTy dRIVER’S LICENSE NUMbER (N/A IF NONE)

E-mail Address Cell Phone #

Parent E-mail Address Parent Cell Phone #

Anticipated Graduation from Elon / Anticipated Major MONTH yEAR

Period of Enrollment (check all that apply): Fall 2011 Winter 2012 Spring 2012

Course Load: Full-time Part-time

If part-time, how many credit hours will you be taking? Fall Winter Spring

Do you currently have a bachelor’s degree? Yes No

Class standing: Freshman Sophomore Junior Senior Graduate Transfer

What will be your housing status in 2011–2012? On Campus Off Campus With Parents or Relatives

To be eligible for federal aid programs, students must file the Free Application for Federal Student Aid (FAFSA). To be eligible for all other types of grants, need-based scholarships and non-federal aid, students must also file the CSS PROFILE Form. Both forms should be filed as soon after January 1, 2011, as possible.

I have filed or will file the FAFSA on .

I have filed or will file the PROFILE on .

List other colleges attended: College or University Dates From/To Degree Received

2011–2012 Financial Aid Application

office of finAnciAl plAnning2725 Campus BoxElon, North Carolina 27244» 336-278-7640 » 800-334-8448

This form is for firsT-Time Aid ApplicAnTs AT elon UniversiTy.The priority time for completed financial aid applications is mid-March 2011.File the FAFSA and PROFILE as soon after January 1, 2011, as possible.These forms take approximately four weeks to be processed.

{ Complete and sign reverse side }

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List scholarships, grants, loans and any other assistance for 2011–2012 from sources other than Elon University. List source and amount.

Source Amount

$

$

Complete the information below about your parents. A married student should provide information about the student’s spouse.

Parent/Stepparent/Guardian 1: Parent/Stepparent/Guardian 2: (Spouse, if student is married)

Name: Mr. Ms. Mr. Ms.

P. O./Street:

City/State/ZIP:

Home Phone:

Employer:

Work Phone:

If any other family members will be enrolled in college at least half-time (6 credit hours per term for at least one term) between July 1, 2011, and June 30, 2012, complete the information below:

Family member:

Name of college:

Degree sought:

No. of credit hrs.:

If any of the tuition/fees are reimbursed by an employer, list the amounts:

$ $

Student’s signature Date

Colleges and universities are asked by many sources, including the federal government, to describe the racial/ethnic backgrounds of students and employees. In order to respond to these requests, we ask that you answer the following questions (your response is optional):

Do you consider yourself Hispanic/Latino? Yes No

In addition, select one or more of the following racial categories to describe yourself: Native American or Alaska Native Asian Black or African American Native Hawaiian or Pacific Islander White

If you wish to describe yourself as another racial category, please describe: Race and ethnicity unknown

Religious Affiliation:

2011–2012 Financial Aid Application

15The Elon Pledge: Values and Value

elon offers An excepTionAl edUcATion AT A reAsonABle cosT

Elon’s reputation for providing a quality educational experience is widely recognized:

Ranked #2 among Southern universities in U.S.News & World Report’s 2011 “America’s Best Colleges” guide, and at the top in seven academic program categories

Princeton Review and USA Today name Elon one of the nation’s top 100 “Best Value Colleges”

Kiplinger’s Personal Finance magazine names Elon one of the nation’s top 50 “Best Value” private universities and #1 in total cost category

Fiske Guide to Colleges names Elon one of the nation’s top 26 “Best Buy” private universities

elon.edu/finaid // finaid@elon.edu For more information about merit-based scholarships, call the Office of Admissions: 800-334-8448 (Press 1) or 336-278-3566.

For more information about other types of financial aid and loans, call the Office of Financial Planning: 800-334-8448 (Press 2) or 336-278-7640.

Non-Profit Org.US Postage PAIDElon, North Carolina Permit No. 1

Office of Admissions and Financial Planning2700 Campus BoxElon, NC 27244-2010

800-334-8448elon.edu/finaidfinaid@elon.edu

& 2011–2012 Financial Aid ApplicationOpportunities for Financial Assistance