Financial Aid

Financial Assistance

Belmont Abbey College believes that the primary responsibility for educational expenses rests with students and their parents. However, students who cannot cover their entire expenses and who can demonstrate financial need are encouraged to apply for assistance. We also encourage students who excel in academics to apply for aid.

All federal and state financial aid funds are administered under the guidelines of the U. S. Department of Education and the State Government, previously agreed to by Belmont Abbey College upon acceptance of these funds.

Belmont Abbey Scholarships and Grants

Academic merit scholarships and grants are awarded each year to applicants based on their official GPA and SAT scores. A scholarship or grant recipient must meet the specific academic requirements pertaining to his or her award and must maintain satisfactory grades and good conduct. The College reserves the right to adjust or cancel a scholarship and/or grant under extenuating circumstances.

Academic Merit scholarships are calculated using a blended academic index on a 100 point scale. The index weighs the student’s high school GPA and SAT score equally. For students with above a 3.0 GPA who are not required to submit an SAT score, the index is calculated using one and half times the weight of the GPA alone. Please see the Net Price Calculator on the Belmont Abbey College Web site for more information and examples.

Academic merit scholarships are awarded to new transfer students entering Belmont Abbey College based on their college GPA. Please see the Net Price Calculator on the Belmont Abbey College Web site for more information and examples.

Returning Students keep the same merit award they received in the prior academic year providing they are enrolled full time and are making satisfactory academic progress.

Belmont Abbey College Scholarships for first-time, new students will be honored for a total of 8 semesters (fall and spring only). Scholarships to transfer students will be awarded as follows:

Merit based—for a length of time according to the number of credits transferred in. For example, if a student transfers 30 credits, he or she has 3 years (6 semesters remaining) of merit-based aid.

Athletic—for a length of time according to remaining NCAA eligibility.

Academic Merit Programs

In addition to several different types of scholarships and grants, Belmont Abbey College also offers qualifying applicants the opportunity to participate in an academic merit program. The following criteria ordinarily govern applicants’ selection for different programs, and determine the corresponding award amount. Residency is generally required for all students enrolled in the following academic merit programs. The Program Director grants any exceptions concerning residency requirements.

Other Programs

The Director of Financial Aid administers the following:

Federal Pell Grant Program

Federal Supplementary Educational Opportunity Grant Program

Federal College Work-Study Program

William D. Ford Federal Direct Loan Program

North Carolina Need Based Scholarship Fund

The student aid programs are “packaged” to meet demonstrated financial need and to supplement other sources of financial assistance. A student with considerable need may expect assistance that may include on-campus employment, loans, and/or scholarships and grants.

Conditions of Award

A financial aid award is assigned for one academic year. Students receive credit for one-half of the award each semester. Students do not receive credit or advance payment for a work-study award. Students will be paid an hourly wage for the number of hours worked. If students do not work, they are not paid.

If students receive aid in any form from another source, they are obliged to inform the Director of Financial Aid in writing immediately. Student awards are reviewed when students accept aid from sources other than the College, and the amount of College-administered assistance is subject to adjustment and/or reduction. This does not apply to entitlement awards. Financial assistance granted to a student must be used only for legitimate educational purposes.

The Director of Financial Aid informs the student of all conditions under which an award is granted at the time that the award is made. Financial aid awards are contingent upon funds being made available from supporting agencies, including the federal and state governments. Students receiving awards under federal and state aid programs must abide by the regulations governing these programs. The College serves only as a conduit for these funds, and awards may be modified or cancelled if anticipated funds are reduced or not received.

To be eligible for financial assistance, applicants must have been accepted by the College through the Admissions Office and be making “satisfactory academic progress.” The student who is enrolled in an approved curriculum and meets the academic standards outlined in the Student Financial Aid Handbook (please see our website www.belmontabbeycollege.edu) is considered to be making satisfactory progress.

Application

The principal application instrument is the Free Application for Federal Student Aid (FAFSA). Filing the applications will enable students to be considered for one—or more—sources of aid for which they are eligible and qualified. Students are encouraged to file the application by November 1 each year at www.studentaid.gov.

Student applicants must file all necessary application forms and the applications must be reviewed by the Director of Financial Aid before any aid can be disbursed. Students must re-apply each year if they wish to be considered for additional financial assistance.

For detailed information regarding financial assistance available to students of Belmont Abbey College, please visit our web site (www.belmontabbeycollege.edu).

Non- Discrimination Policy

Belmont Abbey College admits students of any race, color, age, religion, national and ethnic origin, sex, or disability to all the rights, privileges, programs, and activities generally accorded or made available to students at the school. It does not discriminate on the basis of race, color, age, religion, national and ethnic origin, sex, or disability in administration of its educational policies, admission policies, scholarship and loan programs, and athletic and other school-administered programs.