Financial aid administered by the Financial Aid Office is based on an evaluation of academic accomplishments, financial need, and availability of resources. Students may qualify for Carroll scholarships, awards, and grants or federally sponsored grants, work, and loans. Information about eligibility, applying and accepting aid, and types of aid are outlined in this section. Some general points:
- Scholarships are awarded for each academic year and are generally limited to four years.
- Carroll College scholarships and grants are available for students pursuing their first baccalaureate degree. Post-baccalaureate and Graduate degrees do not qualify for Carroll gift aid with the exception of donor specific scholarships for special programs.
- Awards are usually made in the spring for the following academic year.
- Carroll College does not discriminate on the basis of race, sex, color, creed, or national or ethnic origin in the administration of its scholarship program.
- Most scholarships administered by the College are divided evenly between fall and spring semesters.
- Scholarships are not awarded during the summer session with the exception of donor specific scholarships for special programs.
- Recipients of selected awards must inform the donor and/or financial aid office of their acceptance.
The following is an example of how financial aid is determined.
The Board of Trustees approves the cost of attendance in October of each year for the following academic year. The costs for a full-time, resident student for 2025 is as follows:
| Item | Cost |
|---|---|
| Tuition | $41,670 |
| Housing & Meals Allowance | $12,060 |
| Fixed Fees | $1,400 |
| Personal Expense* Allowance | $4,172 |
| Total Cost of Attendance | $59,302 |
*This estimate includes allowances for books, supplies, transportation, and personal expenses.
If the student has applied for federal financial aid, Carroll accesses the Student Aid Index (SAI) information electronically from the federal processor. If Carroll is not indicated on the FAFSA as a school that should receive the FAFSA Submission Summary (FSS), the student must submit a copy of the SAR to the Financial Aid Office or contact the Federal processor and request that Carroll College be added. Carroll’s school code is 002526.
Carroll subtracts the SAI from the cost of attendance. The resulting amount is financial need as per federal eligibility guidelines.
The calculation is as follows:
| Item | Cost |
|---|---|
| Financial Aid Cost of Attendance | $59,302 |
| Less: Calculated SAI (assume $8,000) | $8,000 |
| Calculated Financial Need | $51,302 |
Financial aid awards are developed using information available at the time of packaging and may be revised if enrollment status and/or financial status change.