What types of financial aid are available?
Students enrolled in degree-seeking programs at Cedarville University will be evaluated for a variety of financial aid opportunities. Students may receive:
- scholarships or grants (which do not need to be repaid);
- access to federal loans if they successfully complete the FAFSA;
- access to on-campus employment which assists them in paying for their college expenses.
A scholarship is "non-repayable" aid and is awarded on the basis of academic achievement, athletic skills, or special talents; in some cases, scholarships also take into account the student's demonstrated financial need. A scholarship applicant may be required to complete and submit a FAFSA when 'demonstrated financial need' is part of a scholarships awarding evaluation.
A grant is also considered "non-repayable" aid and is typically awarded on the basis of demonstrated financial need. Grants may be funded by the government, the student's home state, other civic entities, or Cedarville University. Since 'demonstrated financial need' is often one of the awarding criteria for grants, the student usually is required to complete and submit the FAFSA. Pay attention to FAFSA filing deadlines so you don't miss out on these aid opportunities!
A loan is borrowed money that must be repaid according to the stipulations of each loan taken. Low-interest, long-term loans are awarded on the basis of each student's valid FAFSA.
Employment is an important part of financial aid. More than 1,250 students work in Cedarville University departments across campus, typically for 10 to 12 hours per week. All students earn Ohio's minimum wage or higher and are paid biweekly as part of the student payroll process. Some students receive some of their student employment funding from the Federal Work Study Program.