Loans & Grants


Loans

Federal Direct Subsidized Loan - Undergraduates

This need-based program enables students to borrow a student loan. The loan is insured by the federal government, and the federal government pays the interest while the borrower is enrolled in school at least half-time, during a grace period, and during authorized periods of deferment. Interest will begin to accrue from the beginning of the repayment period.

All students that accept the Federal Direct Subsidized Loan must complete the online Entrance Counseling and Master Promissory Note (MPN). Visit https://studentaid.gov/entrance-counseling/ to complete the Entrance Counseling and https://studentaid.gov/mpn/ to complete the Master Promissory Note.

Federal Direct Unsubsidized Loan - Undergraduates and Graduates

This is a non-need-based loan. This loan is insured by the federal government. Interest begins accruing when the loan is disbursed. The interest rate is determined annually by the federal government. The student is responsible for the interest during in-school, deferment, and repayment periods.

All students that accept the Federal Direct Unsubsidized Loan must complete the online Entrance Counseling and Master Promissory Note (MPN). Visit https://studentaid.gov/entrance-counseling/ to complete the Entrance Counseling and https://studentaid.gov/mpn/ to complete the Master Promissory Note.

Federal Direct Graduate PLUS Loan - Graduates

The Federal Direct Graduate PLUS Loan is an unsubsidized loan for graduate and professional students. The program allows a graduate student to borrow up to the cost of attendance, minus any other financial aid received. Graduate or professional students must be enrolled at least half-time at an eligible school in a program leading to a graduate or professional degree and must meet the eligibility requirement established by the U.S. Department of Education. Interest is determined annually by the federal government.

If a student is eligible to receive the Federal Graduate PLUS Loan after completing the application process; they must submit the Master Promissory Note (MPN). Visit https://studentaid.gov/mpn/grad/landing to complete this requirement.

Federal Direct Parent PLUS Loan - Undergraduates

This loan program enables parents with approved credit to borrow for each child who is enrolled at least half-time and who is a dependent student. There is no grace period for these loans. Interest is determined annually by the federal government.

If a guardian is eligible to receive the Federal Direct Parent PLUS Loan after completing the application process; they must submit the Master Promissory Note (MPN). Visit https://studentaid.gov/mpn/parentplus/landing to complete this requirement.

Note: Direct Loan Right to Cancel. Students and parents have a right to cancel Federal Direct Loans after the funds are disbursed. See the Right to Cancel section in this catalog.


Student Loan Entrance Counseling - Undergraduates and Graduates

Every student who accepts a Federal Direct Subsidized/Unsubsidized loan must complete the Entrance Counseling process at https://studentaid.gov/entrance-counseling/. Loan money cannot be disbursed to a student account until the Entrance Counseling is complete.

Student Loan Exit Counseling - Undergraduates and Graduates

Before leaving school, every student who borrowed a Federal Direct Subsidized, Unsubsidized or Grad PLUS loan must complete the Exit Counseling at https://studentaid.gov/exit-counseling/.


Private/Alternative Loan - Undergraduates and Graduates

Visit FASTChoice to learn more about Private/Alternative Loans.

Ministerial Loan/Grant - Undergraduates

This assistance is offered to students who plan to enter the ministry of The United Methodist Church. It is given in the form of a need-based loan for up to one-half tuition, which will be forgiven if the student remains in full-time service to the Church for five years after attending Lindsey Wilson College.

Lindsey Wilson-Bagby Loan

This assistance is funded by a gift from the late George Bagby. It is awarded to needy students who might otherwise be unable to attend Lindsey Wilson.

Lindsey Wilson-Fenley Loan

This loan is funded by a gift from the late R.B. Fenley, a 1909 Lindsey Wilson College alumnus. This loan is awarded to needy students who might otherwise be unable to attend college.

Charles Schell Foundation Loan

This loan program is funded by the Charles E. Schell Foundation. This loan is awarded to students who are citizens of Ohio, Kentucky, West Virginia, or adjoining states. Students must be between the ages of 18 and 25. Students must be loyal to the United States and its institutions, including the Army, Navy, and Air Force. Students must maintain a 2.0 GPA on a 4.0 scale.

River Foundation Loan

This loan is awarded to students who are residents of the following counties in Kentucky: Fayette, Garrard, Jessamine, Lincoln, Madison, Pulaski, or Wayne. This loan is awarded to needy students who might otherwise be unable to attend college.

Right to Cancel

Students have a right to cancel a Direct Loan or a TEACH Grant after the funds were disbursed to their account. The Financial Aid office will notify students via email of their cancellation right after the disbursement. Students have 30 days from the disbursement to complete and submit a Direct Loan and TEACH Grant Cancellation form to the Financial Aid office. Students who cancel this aid will be responsible for returning any funds to the college for which they received a refund and for paying any balance created on the student account.


Grants

Challenge Grant - Undergraduates

This is a need-based grant for first-time, full-time freshmen up to $13,000 per year. It is renewable for three years. Students are not eligible for this grant if they receive an academic scholarship.

Federal Pell Grant - Undergraduates

This federally funded grant is awarded on the basis of financial need. This grant is the foundation upon which all other aid is based.

Federal Supplemental Educational Opportunity Grant - Undergraduates

This federally funded grant is awarded to students based on financial need. Limited funds are available, and priority is given to Pell Grant recipients.

Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant - Undergraduates

Students who intend to teach in a public or private elementary or secondary school that serves students from low-income families may be eligible for this grant. In exchange for receiving a TEACH grant, students must agree to serve as a full-time teacher in a high-need field in a school that serves low-income families. Students must teach for at least four academic years within eight calendar years of completing the program of study for which they received a TEACH grant. Failure to complete this service obligation will result in the grant being converted to a Federal Direct Unsubsidized Loan.

Students have the right to cancel the TEACH Grant after the funds were disbursed to their account. See the Right to Cancel of Federal Direct Loans and TEACH Grants under Loans section above.

Iraq & Afghanistan Service Grant - Undergraduates

This federally funded grant is for students whose parent or guardian died as a result of military service in Iraq or Afghanistan. The grant amount is equal to the maximum Federal Pell Grant for the award year and cannot exceed cost of attendance. Students must complete the Free Application for Federal Student Aid (FAFSA) and meet the eligibility requirements below to qualify:
  • Student is not eligible for a Federal Pell Grant on the basis of expected family contribution, but
  • Student meets the remaining Federal Pell Grant eligibility requirements; and
  • Student's parent or guardian was a member of the U.S. armed forces and died as a result of the military service performed in Iraq or Afghanistan after the events of 9/11; and
  • The student was under 24 years old, or was enrolled in college at least part time at the time of the parent or guardian's death.
Once the student has earned a bachelor's degree or first professional degree or has used up all 12 semesters of eligibility, s/he is no longer eligible to receive an Iraq & Afghanistan Service Grant.

Kentucky State Grants - Undergraduates

The Kentucky tuition Grant (KTG) and College Access Program Grant (CAP) are funded by the Commonwealth of Kentucky. They are awarded according to the need of Kentucky residents attending Kentucky colleges and are subject to availability of funds. These grants are not guaranteed; they are based on a students' "need" according to their cost of attendance.

Christian Service Grant - Undergraduates

This grant is available to the unmarried children under age 24 and/or spouses of a Kentucky United Methodist minister who is employed in full-time service of the Church. Up to one-half of the tuition will be granted, depending on other financial assistance awarded. It is also available to unmarried children under age 24 and/or spouses of a deceased full-time Kentucky United Methodist minister.

Lindsey Wilson Grant - A.P. White Campus - Undergraduates

This grant, funded by Lindsey Wilson College, is designed to help meet a student's financial aid need as determined from the Free Application for Federal Student Aid (FAFSA). This grant program helps ensure that all students have an opportunity to benefit from a Lindsey Wilson College education.

Ohio College Opportunity Grant

The Ohio Department of Higher Education administers the Ohio College Opportunity Grant (OCOG) program, which provides grant money to Ohio residents who demonstrate the highest level of financial need (as determined by the results of the Free Application for Federal Student Aid [FAFSA] that should be completed) who are enrolled at Ohio private, non-profit colleges. Lindsey Wilson College undergraduate students enrolled at the Hillsboro Community Campus location may receive this grant.