About Financial Aid
The U.S. Department of Education has stated that Carroll University may participate in those student financial assistance programs authorized by Title IV of the Higher Education Act of 1965, as amended. You may contact the Director of Financial Aid at the telephone number or address listed below, if you would like to review a copy of the most current Program Participation Agreement.
Financial aid is available to students who are enrolled at least on a half-time basis per semester (some students may qualify for a Federal Pell Grant if enrolled less than half time), are degree seeking, and meet all other guidelines established by the University and the U.S. Department of Education. For financial aid purposes, half-time status is 6-8 credit hours per semester, three-quarter-time is 9-11 credit hours per semester and full-time status is a minimum of 12 credit hours per semester. If your enrollment status changes (full-time to part-time, etc.), please notify the Financial Aid Office. In addition, if a student is enrolled in courses that do not count toward his/her degree, they cannot be used to determine enrollment status. The Financial Aid Office will work with the Registrar’s Office to determine eligible coursework needed for graduation. The University participates in four types of financial aid programs: scholarships, grants, loans, and employment. The following titles provide more information about the various financial aid programs and how to apply. More detailed information is available on the University’s Web site and upon request by contacting the Office of Financial Aid at 262.524.7296 locally, or at 1-800-Carroll.
You may also write to us at the following address:
Carroll University Office of Financial Aid,
100 N. East Ave.,
Waukesha, WI 53186.
Note: Students may be eligible for student financial assistance program funds for attending a study abroad program that is approved for credit by the Carroll University Registrar. For more information, contact the Financial Aid Office as described above.
Application for Aid
The University uses the results of the Free Application for Federal Student Aid (FAFSA) as the basis for determining a student’s eligibility for federal, state, and institutional funds. The FAFSA must be entirely completed and sent to the federal processor. Carroll University’s name and Title IV code (003838) must be listed on the FAFSA in order for the University to receive a copy of the results. Students are encouraged to complete the FAFSA by February 1 for September enrollment, and by October 1 for January enrollment.
In order to receive financial aid, students must have their financial aid paperwork (including the FAFSA and any additional information required by the Financial Aid Office) completed by the following dates for the applicable term:
The information reported on the FAFSA is used to determine a student’s expected family contribution (EFC), an amount the student and parent(s) or spouse are expected to contribute toward their education. The EFC is subtracted from a student’s cost of attendance to determine his/her financial need. A financial aid counselor will attempt to put together a financial aid package that comes as close as possible to meeting a student’s demonstrated financial need. However, due to limited funds, the amount awarded to a student may fall short of the amount for which she/he needs. The University attempts to distribute financial aid to students in a fair and equitable manner among the various student populations.
The Department of Education (or Carroll) may select students for a process known as verification. When selected for verification, the student and parent(s) or spouse must complete a verification document and submit additional documents which may include either using the IRS Data Retrieval when submitting the FAFSA or submit signed tax return transcripts to the Carroll University Financial Aid Office, along with additional documentation. The Financial Aid Office will contact the student to request information needed to complete this process. The University is required by the U.S. Department of Education to review the documents to ensure the information reported on the FAFSA is correct.
Carroll University offers a variety of merit scholarships to recognize outstanding student accomplishments. There are two categories of scholarships: academic and additional. For scholarship information, please see the University’s Web site.
Grants are awarded based upon a student’s demonstrated financial need as determined by the Free Application for Federal Student Aid (FAFSA). A student can receive a grant from the Federal Government, the State of Wisconsin (if a Wisconsin resident), and Carroll University. Like scholarships, grants are considered gift aid that do not need to be repaid. For additional grant information, please see the University’s Web site.
Loan options available to eligible students and parents include the Federal Direct Student Loan and the Federal PLUS parent loan, as well as from private lenders. Students who obtain a loan must adhere to the terms of the loan. These terms include repayment, entrance and exit counseling, and conditions under which students may obtain deferral or partial loan repayment for volunteer service. For additional loan information, please see the University’s Web site.
University employment opportunities allow students to work part-time on campus, earn an hourly wage and receive a monthly paycheck while attending Carroll. Students may work from approximately five to fourteen hours each week. The number of hours a student may work depends upon the student’s financial aid award. Students eligible for federal work-study are given first preference for employment positions. Students eligible for federal work study are encouraged to participate in off-campus community service positions. For additional student employment information, please see the University’s Web site.