Converse Main Menu | Financial Aid 
 
Loan Opportunities and Other Assistance
Converse is dedicated to providing a comprehensive program of need-based assistance. Your personal financial assistance package may be constructed from a variety of sources, including grants, loans, and work-study. Eligibility for these types of aid are determined using a standardized formula implemented by the United States Department of Education and your EFC from the FAFSA. A completed FAFSA is required for all federal need-based assistance, and most state financial aid.
Federal Work-Study Program
The Converse campus job network is full of opportunities for you to learn new skills, cultivate interests or apply your education. You can:

  • work up to ten hours per week during the academic year

  • earn up to $1600 annually
Examples of jobs you may fill:

  • research assistant for faculty

  • peer tutor

  • community service team leader

  • communications assistant

  • admissions office assistant

  • switchboard receptionist
Student work is available in various campus offices, from the School of Music to the Dean’s Office.  Student work may include off-campus community service such  as tutoring elementary school students and/or working for community service organizations. Eligibility is based on your level of financial need as determined by the FAFSA.
Loans
Federal Stafford Loan Program:  The Stafford Loan Program is a low-interest loan made to students from an outside lender. Freshmen are eligible for up to $3,500, sophomores can receive up to $4,500, and juniors and seniors can qualify for up to $5,500. The interest rate for new borrowers is set at 6.8%. The interest is paid to the lender by the federal government while the student is enrolled in school at least half-time. Repayment of the loan and interest begins six months after the student drops below half time, withdraws, or graduates, and repayment may extend over ten years depending upon the amount borrowed. If you are eligible to borrow under the program, the Office of Financial Assistance will notify you by forwarding the necessary application with your award letter. Eligibility is based on your level of financial need as determined by the FAFSA.
Federal Unsubsidized Stafford Loan Program:  Students who do not qualify for a subsidized Stafford Loan or who are not eligible for the full Stafford Loan amounts are eligible for the unsubsidized Stafford Loan. The unsubsidized loan program incorporates the same interest and repayment guidelines as the Federal Stafford Loan Program with the following exception: under the unsubsidized program, interest begins accruing while the student is enrolled. Interest may either be paid during the deferment period or may be capitalized. In that case, the interest will be added to the principal amount of the loan. All students are eligible for this loan; however, you must file the FAFSA to qualify.
Federal PLUS Loan Program:  The Federal Plus Loan Program provides long-term, low-interest loans to parents of dependent students who may not qualify for other types of financial assistance. An outside lending institution approves or rejects the loan based on the credit-worthiness of the parent applicant. The interest rate on this loan is set at 8.5%. Repayment starts while the student is still in college.
Federal Perkins Loan Program:  Perkins Loans of up $3,000 per year are awarded to students with demonstrated need. The FAFSA form determines eligibility. Priority is given to students with the highest need. Interest is 5%, but principal and interest payments do not begin until nine months after students complete or leave college. Eligibility is based on your level of financial need as determined by the FAFSA.

South Carolina Teachers Loan Program:  To encourage talented and qualified South Carolina students to enter the teaching profession, the State of South Carolina developed the Teachers Loan Program to assist students with college expenses. The loans can be canceled at the rate of 20% per year by teaching in South Carolina public schools in state-designated areas of critical need. In order to be eligible, students must meet the academic requirements of the program. Applications are available through the Converse College Office of Financial Assistance.  The deadline for applying is June 1st.
Other Sources of Assistance
You may be able to qualify for other forms of merit and need-based assistance through community, religious or social organizations. In addition, some employers have special programs to assist employees and their children with the cost of college. Public libraries are excellent resources for this type of information.

The Converse College Monthly Payment Plan
Tuition Managment Systems. Helping Families Afford Education.An additional tool to help you and your family have an affordable and convenient college experience is our nine- or ten-month payment plan through Tuition Management Systems, which allows you to pay annual expenses in interest-free installments. The only cost is a $60 non-refundable application fee. For more information, or an application, visit the Tuition Mangement Systems page.

Helpful Web Links

Converse Scholarship Cacluator - Allows you to quickly find out your estimated scholarship eligibility and award using your GPA and SAT/ACT score.

General: Contains an EFC Estimator, Title IV codes and general information about loans and tuition repayment.

Scholarships: Super-database of nine different scholarship search engines. Free of charge to students.

ScholarshipHelp.org: Helpful advice on how to apply for all types of scholarships

FAFSA: Extensive information about federal financial assistance as well as an online version of the FAFSA.

National Student Loan Database: U.S. Department of Education's central database for student assistance which provides a centralized, integrated view of Title IV loans and Pell grants that are tracked through their entire cycle; from aid approval through closure.

International and Minority Students: Several sites have helpful information and applications for various minority scholarships, such as the Gates Millennium Scholars, the Hispanic College Fund, and the Minority Online Information Service.

Army Emergency Relief Scholarship: AER is the Army's own emergency financial assistance organization and is dedicated to "Helping the Army Take Care of Its Own". AER provides commanders a valuable asset in accomplishing their basic command responsibility for the morale and welfare of soldiers.
Contact Us
If you have any questions or comments about the financial aid process, please contact the Office of Financial Assistance at (864) 596-9019 or financial_aid@converse.edu. We're here to help.