Gift aid refers to scholarships and grants which require no repayment by the student. Grants are need based
awards with the students eligibility being determined by
information from the FASFA. Scholarships are typically not
based on need, but on a student's accomplishments or talents. Brief summaries of this type of assistance at Grace College
follow:
INSTITUTIONAL SCHOLARSHIPS AND GRANTS
Most institutional scholarships require a student to live on campus and maintain full time enrollment. In addition institutional aid is limited to eight semesters (four years) of eligibility. The eight semesters are limited to fall and spring semesters. Grace College reserves the right to reduce institutional aid in the event that a combination of federal, state, and institutional gift aid exceeds direct cost.
ACADEMIC MERIT-BASED SCHOLARSHIPS
Grace College offers five merit-based awards for new students
based on test scores and/or cumulative GPA or class rank. One can apply for these awards by making
application for admission to Grace College. When the applicant's
admission file is complete, the Grace College Admissions
Committee reviews the applicant's file to determine eligibility
for admission and one of the merit awards. Financial need is not a factor
in this selection. These scholarships are renewable if the
student maintains academic good standing (minimum 2.0 cumulative GPA) at the end of each academic year.
NOTE: ACT and SAT scores are considered through February test dates of the year of enrollment. High school GPA and class rank are considered through the seventh semester. College GPA is considered for transfer students.
NATIONAL MERIT FINALIST SCHOLARSHIP
Grace offers a full tuition scholarship to the finalists
of the National Merit Scholarship competition. Recipients
must be accepted by Grace College and provide a copy of the
Finalist Certificate. This award, in conjunction with other
institutional aid, will not exceed tuition. Tuition is covered only for fall and spring semesters.
THE CLERGY CHILDREN'S
AWARD
The Clergy Children's Award is a need-based award. The student must be a dependent, unmarried
child of a full-time pastor or missionary. Pastors—The
parent must be a full-time, licensed, ordained, vocational
pastor with the parent's salary paid through the church.
Missionaries—The parents must be missionaries where their salary is paid through voluntary contributions to
their support. The student's grant eligibility is determined
from the results of the FASFA form in conjunction with other
types of gift money received. The award is $1,250 per year. 
FEDERAL PELL GRANT PROGRAM
The Federal Pell Grant is a need-based program for eligible college students. In 2009–2010, a Pell Grant for a qualified student could range from $890 to $5,350. This is an entitlement award and eligibility is determined from the FASFA. For more detailed information, click here.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY
GRANT
This federally sponsored grant program is to supplement
other forms of assistance for students with significant financial
need. The recipients are selected by Student Financial Aid
in accordance with the guidelines of the U.S. Department
of Education. The number and amount of these awards will
depend on an annual appropriation of Congress.
STATE SCHOLARSHIPS
AND GRANTS
Students from Indiana, Pennsylvania, Rhode Island,
and Vermont should apply for a state scholarship program. Information and application procedures may be obtained from
the scholarship agency of the student's home state.
OTHER
SCHOLARSHIP ASSISTANCE
Many external organizations offer scholarship programs. Students are encouraged to investigate such opportunities.
High school guidance offices and libraries often have resource
materials listing these programs. Parent's employers may
offer assistance. Eligible U.S. veterans or their dependents
may have educational benefits available to them. Handicapped
students may qualify for assistance from their state agency.
Community service organizations and local bank trust departments
may also have funding available. All students who receive
outside scholarships must notify Student Financial Aid. Outside scholarships are always in addition to Grace College merit-based scholarships up to the full cost of attendance.
Try
the internet's largest free scholarship search at fastweb.com.
[ Click here for other free
scholarship search websites. ]
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