Federal Direct Student Loans

Benedict College participates in the Federal Direct Loan Program. At Benedict College, students are automatically awarded federal direct subsidized and/or unsubsidized loans as part of our financial aid offer to students. As the student, you have the choice to accept or decline a loan.

Federal Direct Subsidized and Unsubsidized Loans

Federal Direct Loans are low-interest loans that are meant to help with the cost of college. There are two types of direct loans available for undergraduate students: subsidized and unsubsidized loans. The financial aid office automatically considers students for a loan through the awarding process.

• Federal Subsidized Loans are offered based on financial need. Interest on a subsidized loan is deferred as long as you are enrolled at least half-time.

As a result of legislation enacted in July 2012, eligibility for the Direct Loan interest subsidy will be limited for new borrowers (no student loans prior to July 1, 2013). New borrowers may only receive subsidized loans, up to 150 percent of the published length of the student’s current educational program. Once the student reaches that limit, he or she may borrow only unsubsidized loans, and interest begins to accrue on the student’s outstanding subsidized loan.

• Federal Unsubsidized Loans are offered if you do not show financial need, or if you find you need additional loan funding to help in covering cost of attendance. Interest will begin to accrue on a Federal Unsubsidized Loan once you receive it. 

Interest rates vary depending on when the loan is disbursed. Visit the Federal Student Aid Website for the most up to date interest rates and fees.

Federal Pell Grants

The Federal Pell Grant is awarded to undergraduate students earning their first bachelor’s degree who meet the federal government’s eligibility formula. To determine eligibility, the Free Application for Federal Student Aid (FAFSA) must be submitted for each school year. The Pell Grant does not have to be repaid. Federal Pell Grant eligibility is determined according to federal law and is based on the financial information you and your family provided on your FASFA. Eligibility is determined using a standard formula to produce an Expected Family Contribution (EFC) number based on FAFSA information. Pell Grant amounts depend on a student’s EFC, enrollment status, and length of time attended during the academic year.

Federal Supplemental Educational Opportunity Grant (FSEOG) 

The FSEOG is a federal government grant that does not have to be repaid. FSEOG is awarded to undergraduate students with exceptional financial need who are earning their first bachelor’s degree. Priority is given to Federal Pell Grant recipients. While the Department of Education guarantees that participating schools will receive funds to pay the Federal Pell Grants for its eligible students, there is no guarantee every eligible student will receive a FSEOG. Award amounts depend on when you submit your FAFSA, your financial need, the amount of funding allocated to Benedict College, and the number of potentially eligible students.

FSEOG cannot be automatically renewed each year. Returning students must maintain Satisfactory Academic Progress and meet the FSEOG awarding requirements each academic year.

Students must be enrolled at least half-time (six credit hours) to receive FSEOG. Once all award requirements have been met, your financial aid will be credited to your student account.

South Carolina Tuition Grant

This grant is awarded to South Carolina residents with demonstrated financial need who choose to attend an eligible private college in the state. To be considered for this grant, you must submit the FAFSA by August 1 of each year.

For more information about the South Carolina Tuition Grant, please visit https://sctuitiongrants.org/.

Scholarship Opportunities

Scholarship Checks

Submitting Scholarship Checks to Benedict College

Where and when should scholarship checks be mailed?
Mail checks to:

Benedict College
Office of Financial Aid and Scholarships
Attention: Monique Rickenbaker
1600 Harden Street
Columbia, SC 29204

The Office of Student Financial Aid is responsible for receiving, recording, and entering scholarship check into the College’s awarding system. Once entered, the checks are routed to the Benedict’s cashier’s for disbursement to the student’s account.

It is preferable that the checks be sent from the 
donor directly to the Office of Student Financial 
Aid and Scholarships. If the donor provides the check directly to the student, the student should submit the check to the Office of Financial Aid and Scholarships. Do not mail checks to Benedict College Billing Office.

If students must send a copy of their bill to a donor/agency, the student can request that an invoice be sent to the donor or agency from the Office of Student Accounts.
What information is needed on the checks and/or correspondence?

The student’s full name and Jenzabar ID or last four ssn number, and Personal Information should be included on the check and/or any correspondence. Indicate if the check is to cover academic year expenses or expenses for a particular semester (fall or spring or
summer session). If there is no indication for the time period the check is to cover, the funds will automatically be used for the academic year (half for the fall semester, half for the spring semester.)

It is preferable that checks be made payable only to the Benedict College. If the check is made payable to the student or co-payable to the student and the College, additional time may be needed to obtain the student’s endorsement on the check this could cause a delay in the student receiving the scholarship funds. The donor’s name, address, and phone number should be included on the check
or with the correspondence in case the Office of Financial Aid and Scholarships needs to contact the donor.

Are students required to enroll full-time?

It is assumed that the student will be enrolled full-time (12 or more hours per semester). If the
scholarship does not require full-time enrollment, indicate this on the check or in the correspondence that accompanies the check.

How can students get verification of their enrollment?

After students have registered for courses, they can go to the Office of the Registrar to obtain an enrollment verification letter and, if required submit it to the donor or agency.

Who to contact if there are questions:
Call Mrs. Monique Rickenbaker, Office of Student Financial Aid and Scholarships at (803) 705-4655 or e-mail her at monique.rickenbaker@Benedict.edu.