Navigating the world of financial aid can be overwhelming, but it’s essential for students to secure the funding they need to pursue their higher education goals. East Carolina University (ECU) offers a wide range of financial aid options to help students and families cover the costs of tuition, fees, and other expenses.
Understanding Financial Aid at ECU
ECU offers a variety of financial aid options, including:
- Grants: Free money that does not need to be repaid.
- Scholarships: Merit-based awards based on academic achievement, athletic ability, or other criteria.
- Loans: Money that must be repaid, usually with interest.
- Work-Study: On-campus jobs that allow students to earn money to help pay for expenses.
Determining Your Eligibility
Eligibility for financial aid is determined by several factors, including:
- Financial need: The difference between the cost of attendance and the amount of money you (and your family) can contribute towards your education.
- Academic progress: Meeting satisfactory academic progress (SAP) standards while attending ECU.
- Enrollment status: Full-time or part-time enrollment.
- Citizenship or residency: U.S. citizens, permanent residents, and certain non-citizens are eligible.
How to Apply for Financial Aid
To apply for financial aid, you must submit the Free Application for Federal Student Aid (FAFSA) at studentaid.gov. The FAFSA collects information about your financial situation and determines your eligibility for federal and state aid. ECU’s school code is 002933.
Types of ECU Financial Aid
ECU Grants
- ECU Grant: Awarded to students based on financial need and academic merit.
- North Carolina Education Lottery Scholarship: Awarded to North Carolina residents who demonstrate financial need and have a high school GPA of at least 3.0.
- ECU Academic Performance Grant: Awarded to students who maintain a 3.0 GPA or higher while enrolled at ECU.
ECU Scholarships
- ECU Merit Scholarship: Awarded to incoming freshmen based on their academic credentials and extracurricular activities.
- ECU Honors Scholarship: Awarded to students admitted to the ECU Honors College.
- ECU Athletic Scholarship: Awarded to student-athletes who meet specific athletic eligibility requirements.
ECU Loans
- Federal Direct Subsidized Loan: No interest accrues while you are enrolled in school at least half-time.
- Federal Direct Unsubsidized Loan: Interest accrues during all periods, including while you are enrolled in school.
- ECU Parent PLUS Loan: Available to parents of dependent undergraduate students to help cover educational expenses.
ECU Work-Study
- Federal Work-Study: Provides part-time jobs on campus to students with financial need.
Benefits of ECU Financial Aid
ECU financial aid provides numerous benefits, including:
- Reduces the cost of education: Grants, scholarships, and loans help students offset the costs of tuition, fees, and other expenses.
- Improves academic performance: Financial stability can reduce stress and allow students to focus on their studies.
- Enhances career opportunities: A college degree increases earning potential and job opportunities.
Tips and Tricks for Maximizing Financial Aid
- Apply early: Financial aid is awarded on a first-come, first-served basis. Submit your FAFSA as soon as possible after October 1st.
- Consider all options: Explore all types of financial aid, including grants, scholarships, loans, and work-study.
- Maintain a high GPA: Merit-based scholarships reward academic achievement. Aim for a GPA of 3.0 or higher.
- Get involved in extracurricular activities: Scholarships and grants may be available to students who participate in clubs, sports, or other activities.
- Work part-time: On-campus jobs through Federal Work-Study can help offset expenses and gain valuable work experience.
ECU Financial Aid Contact Information
For more information or assistance with ECU financial aid, contact the Office of Financial Aid at:
- Phone: 252-328-6501
- Email: [email protected]
- Website: https://financialaid.ecu.edu
Tables
| Type of Aid | Description | Eligibility Requirements |
|---|---|---|
| ECU Grant | Free money based on financial need and academic merit | Completed FAFSA, demonstrate financial need, meet SAP |
| Federal Direct Subsidized Loan | No interest while enrolled at least half-time | Completed FAFSA, demonstrate financial need |
| Federal Work-Study | Part-time on-campus jobs | Completed FAFSA, demonstrate financial need, meet SAP |
| ECU Merit Scholarship | Awarded to incoming freshmen based on academic credentials | High school GPA of 3.5 or higher, standardized test scores |
| Year | Average Cost of Attendance at ECU | Average Financial Aid Awarded per Student |
|---|---|---|
| 2019-2020 | $26,760 | $13,500 |
| 2020-2021 | $27,450 | $14,000 |
| 2021-2022 | $28,200 | $14,500 |
| Income Level | Percentage of ECU Students Receiving Financial Aid | Average Financial Aid Award |
|---|---|---|
| Below $30,000 | 85% | $15,000 |
| $30,000-$60,000 | 70% | $10,000 |
| $60,000-$90,000 | 55% | $7,500 |
| Type of Aid | Repayment Period | Interest Rate |
|---|---|---|
| Federal Direct Subsidized Loan | 10 years | 4.99% |
| Federal Direct Unsubsidized Loan | 10 years | 6.54% |
| ECU Parent PLUS Loan | 10 years | 7.54% |
