Financial Aid

Your education is an important investment.

That’s why we strive to make financial aid available to every student. We are committed to providing student financial assistance to eligible students to help pay the costs associated with attending college

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Financial Aid Process

Step 1: How to Apply


Future students must apply for admission to Pfeiffer University and be accepted before eligibility for any student aid programs can be determined.

Federal Student Aid (Grants, Work-Study, and Loans, including Parent PLUS)

  • Complete the Free Application for Federal Student Aid (FAFSA) each year for the upcoming school year. You may submit the FAFSA online by completing the application at this video for helpful tips.
  • Complete the FAFSA process each year as soon as possible after October 1st for the upcoming school year.
  • Pfeiffer's Federal School Code is 002955.

Note: Approximately 30% of all applications each year will be federally selected for a process of review called verification. If your application is selected you will be notified via email. You will also be able to view the requirements online through your account. In addition, database matches will be performed by comparing your application data with the Social Security Administration, Immigration and Naturalization Service, Selective Service System, National Student Loan Data System, and others. Depending on the outcome of these database matches, you may be required to submit additional documentation.

Step 2: Confirm That Your Application Was Received

When the Department of Education receives the FAFSA, they will process the application. Online applications are processed in one to two weeks. Students can check the status of their FAFSA at

Federal student aid applicants will receive a Student Aid Report (SAR) as a result of filing the FAFSA.  Students should review the information on the SAR for accuracy and confirm that Pfeiffer University was listed as a college to receive their FAFSA results.

If Pfeiffer was listed on the FAFSA and the FAFSA was completed correctly, the University should receive the application results electronically. The Office of Financial Aid will then begin corresponding with the student.

All correspondence will be emailed. If the student has been admitted to Pfeiffer, they are assigned a school email account. All Financial Aid emails will be sent to the student's Pfeiffer email account. If the student has not yet been assigned an email address by the Admissions Office, the email will be sent to the email address indicated on their FAFSA. 


Step 3: Award Notifications, Acceptance, & Loan Processes

Once a student’s file is complete and accurate, the Office of Financial Aid processes a student award package. The awarding process takes approximately two to three weeks.

Students are awarded federal aid based on eligibility and the availability of funds. Depending on eligibility, the award may include grants, campus employment, and/or student loans.

Students are notified of their awards by email. Please review the award letter and accept or decline the awards. Return the signed award letter either via email to [email protected] or via fax to 704-463-1363.

If a student has been awarded a Federal Direct Loan for the first time, a Master Promissory Note (MPN) and Entrance Counseling and a Student Loan Acknowledgment must be completed at

Step 4: Financial Aid Appeal

If the FAFSA is not a true reflection of what your current financial situation is or if there have been extenuating circumstances that may affect your eligibility, please contact the office via email at [email protected].  Paperwork will be provided to determine if changes can be made to your package.

Step 5: Receive Financial Aid Funds

All financial aid refunds are processed by the Business Office. If the student is due a refund after all tuition and fee charges have been paid, the refund can be issued one of two ways:

  • Misenheimer Students: You may pick up your refund check in the business office.
  • Graduate and Degree Completion: The refund check will be mailed to the student's mailing address within 14 days of the disbursement date.

Eligibility Requirements 

Eligibility for federal aid is determined on the basis of financial need as well as several other factors. In order to receive aid from federal programs, a student must: 

  • Have financial need (which is NOT required for the Direct Unsubsidized Loan, Direct PLUS Loan or Direct Graduate PLUS Loan ).
  • Have a high school diploma or GED or pass a test approved by the Department of Education.
  • Be degree-seeking in a program of study.
  • Be enrolled in an eligible program of study and taking classes required of that program.
  • Have a valid Social Security number.
  • Be a U.S. citizen or eligible non-citizen.
  • Register with the Selective Service System, if required.
  • Maintain satisfactory academic progress once in school.
  • Attend at least half time to receive a Direct Loan.

Types of Aid


Pfeiffer University is proud to offer many merit scholarships and awards. Students are encouraged to review current offerings and speak to an admissions counselor.

Federal Financial Aid

Federal Student Aid Programs include grants, loans, and work-study. Eligibility for most of these programs is based upon the "demonstrated financial need" of the student applicant and the applicant's family. However, financial need is not an eligibility criterion for the Federal Direct Unsubsidized Loan or the Federal Direct PLUS Loan. In order for eligibility to be determined, federal student aid applicants must file a Free Application for Federal Student Aid (FAFSA) each year. 

Federal Pell Grant 

The Federal Pell Grant is a basic "need-based" grant awarded to undergraduate students working on their first bachelor's degree. Eligibility is determined through a standard formula established by Congress, which is used to evaluate the information reported on the Free Application for Federal Student Aid (FAFSA). This will produce an Expected Family Contribution (EFC) number. The amount of Pell Grant aid that the student is eligible to receive depends on the EFC, Cost of Attendance, and enrollment status. Pell Grant is prorated for three-quarter, half time, or less-than-half time enrollment. Students must be enrolled FULL-TIME, in order to receive the full amount of the Pell Grant award. A student's Pell Grant eligibility cannot exceed 600% which is the equivalent of 12 full-time semesters. Grant awards do not have to be repaid.

Federal Supplemental Educational Opportunity Grant 

The Federal Supplemental Educational Opportunity Grant (SEOG) is a "need-based" grant awarded to undergraduate students who are enrolled in their first bachelor's degree program and eligible for a Pell Grant. Students with the highest need are given first priority. SEOG funds are severely limited and are awarded to eligible students until the funds are depleted. 

Federal Work-Study Program (FWS) 

The Federal Work-Study Program (FWS) is a "need-based" work program that allows students to earn money to help pay educational expenses. Students must indicate on their FAFSA that they are interested in Federal Work-Study in order to be considered. FWS student employees will be paid twice per month.

Federal Perkins Loan*

The Federal Perkins Loan is a "need-based" revolving loan fund, utilizing both federal and institutional funds. This award is a loan and must be repaid by the borrower. The federal government pays the interest while the student is in school at least half-time, during a nine-month grace period, and during periods of deferment. Priority is given to students with exceptional needs and the availability of funding is not guaranteed.

Federal Direct Loan Program*

Federal Direct Loans are low-interest loans that undergraduates, graduates, and parents of dependent undergraduates may obtain from the federal government. To be eligible, students must be a U.S. citizen or permanent resident, not have previous defaults on a federal student loan, be enrolled at least half time, and be maintaining satisfactory academic progress. This is a loan that must be repaid.  

The Federal Direct Loan Program includes the Federal Subsidized Direct Loan, the Federal Unsubsidized Direct Loan, the Federal PLUS Loan, and the Federal Graduate PLUS Loan. The type of Federal Direct Loan a student may borrow is based mainly on the student's demonstrated need. Demonstrated need is the student's Cost of Attendance (COA) minus the Expected Family Contribution (EFC), which is calculated from the information submitted on the Free Application for Federal Student Aid (FAFSA), minus other aid. For the most current origination fees and interest rates, please click here

*Please note that any loan borrowed by the student or parent will be submitted to the National Student Loan Database System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.

Direct Subsidized Loan

The Direct Subsidized Loan is awarded to undergraduate students with demonstrated need. The federal government pays the interest while the student is in school.  An origination fee will be charged by the federal government of the total amount of the loan. For the most current origination fees and interest rates, please click here.

Direct Unsubsidized Loan

The Direct Unsubsidized Loan is awarded to students without demonstrated need. The student borrower pays the interest while in school and during the grace period. Undergraduate students may receive a combination of both Subsidized and Unsubsidized loans depending on their eligibility of need versus no-need and their dependency status. An origination fee is charged by the federal government on the total amount of the loan. For the most current origination fees and interest rates, please click here.

Federal Direct Loan Limits

Dependent Undergraduates Subsidized Dependent Student Total
First Year (Undergrad) $3,500 $5,500
Second Year (Undergrad) $4,500 $6,500
Third Year & Beyond (Undergrad) $5,500 $7,500
    The maximum that undergraduates may borrow for all years is
$31,000 (not to exceed $23,000 in Direct Subsidized Loans)
Independent Undergraduates Subsidized Independent Student Total
First Year (Undergrad) $3,500 $9,500
Second Year (Undergrad) $4,500 $10,500
Third Year & Beyond (Undergrad) $5,500 $12,500
    The maximum that undergraduates may borrow for all years
is $57,500 (not to exceed $23,000 in Direct Subsidized Loans)
Grad & Professional Students   $20,500 (Direct Unsubsidized Loans only)
    The maximum that all graduate students may borrow is $138,500.  

Direct PLUS Loan 

Parents of dependent undergraduates may borrow through the Direct PLUS Loan Program, if eligible. The amount parents may borrow is the student's Cost of Attendance minus other financial aid to be received during the loan period. The parent must complete the Parent PLUS loan application and Master Promissory Note (MPN) at A credit check is required when applying for this loan. 

Parents must begin repaying both principal and interest within sixty days after the loan is disbursed. The lender charges interest on the loan from the date the first disbursement is made until the loan is paid in full. An origination fee will be charged by the federal government on the total amount of the loan. For the most current origination fees and interest rates, please click here.

Alternative Loans 

Students who do not qualify for federal Financial Aid, or who need additional funds beyond what federal Financial Aid can provide, have an option of applying for an alternative (private or non-federal) educational loan. Alternative loans are generally more expensive and therefore should only be considered if absolutely necessary. In most cases, the student applicant's credit and/or co-signers credit must be approved by the lender. The eligible loan amount can be no greater than the Cost of Attendance minus all other Estimated Financial Aid and the student must be at least half-time at the time of disbursement.

Students (and their co-signer, if applicable) should carefully research the options and apply for the alternative loan with the financial institution that best suits your needs.

State Aid

North Carolina Need-Based Scholarship 

Created by the 2011 North Carolina General Assembly, the North Carolina Need Based Scholarship is a need-based program for NC residents attending private institutions of higher education located in North Carolina. Students must meet general eligibility requirements including demonstrating financial need. Funds are awarded only to students who are Federal Pell Grant recipients. For full eligibility requirements and more information, click here.

  • Students enrolled in 12-14 hours are considered full-time (F) and are not eligible for the maximum award.  The NC General Assembly passed legislation that will decrease awards for students who are considered full-time.  
  • Students enrolled in 15+ hours are considered a full-time plus. Students receiving the full-time plus award should be enrolled 15 or more hours at the time of reporting.
  • Students dropping below 15 hours on or before the time of reporting are not eligible for the additional funds provided to full-time plus students. 

Office of Financial Aid Contact Information

Office of Financial Aid
P.O. Box 960 / 48380 U.S. Hwy. 52N
Misenheimer, N.C. 28109
Phone: (800) 338-2060
Fax: (704) 463-1363
[email protected]