Financial Aid

Office of Student Financial Services

Dinkins Hall – Room 105

Contact Information: 334.526.1718, Ext. 109

*Announcement*

Selma University is currently not eligible to participate in the Federal Financial Aid Program. This includes Pell Grant, Federal Supplemental Education Opportunity Grant (FSEOG), Iraq and Afghanistan Service Grants, Teacher Education Assistance for College and Higher Education Grant (TEACH), Federal Work-Study (FWS) Federal Perkins Loan (Perkins Loan), and William D. Ford Federal Direct Loan (Federal Direct Stafford/Ford Loan Program, and the Federal Direct plus Program). The University is working diligently toward regaining eligibility and will update this announcement accordingly.

Goal

The Office of Student Financial Services supports the University’s goal of providing postsecondary education opportunities by assisting qualified Selma University students pursuing their education goals with funds from grants, scholarships, and loans from federal, state, and private sources.

Primary Objectives

To supplement the efforts of the student, and parents of the student, in meeting educational costs.
To assist students in the financial aid process of obtaining financial aid stability to attend the institution.

The four main types of financial aid are grants, scholarships, work-study, and loans.

Grants

Generally don't need to be repaid, unless your financial or educational situation changes
May be based on financial need, academic merit, or specific criteria
The government is a common source of grants

Scholarships

Free money that doesn't need to be paid back
May be based on academic merit, talent, financial need, or a particular area of study
May come from nonprofit and private organizations

Work-study

Allows students to earn money to pay for school by working part-time
Based on financial need and availability of positions
Students earn at least the current federal minimum wage

Loans

Borrowed money that must be repaid with interest
May come from banks, other financial institutions, or colleges and universities
Private loans tend to have higher interest rates than federal loans