Nothing is more important to a great future than a great education. That is why the Office of Financial Aid at Philander Smith College makes it our mission to work diligently to provide you with the best possible financial package for college. The staff takes pride in working one-on-one with you and your family throughout your college years.
Philander Smith College participates in a wide range of federal and state aid programs. With a combination of need-based grants, scholarships, loans and student employment, we work hard to make PSC affordable for all admitted students. During the 2010-2011 academic year, we awarded over $10 million in financial aid to our students.
About 98 percent of our PSC students receive some form of financial assistance. To make sure you receive the best possible financial aid award, we ask that you remember the following:
- Apply by March 1st each academic year. This is our priority deadline and serves as one of the basis for our awarding decisions.
- Complete the Free Application for Federal Student Aid (FAFSA) as soon as possible after January 1st each year. Our school code is 001103.
- To ensure timely applications, you should complete the application at www.fafsa.ed.gov
Cost of Attendance for the 2011-2012 School Year (Download full price list)
Presidential Scholarship – Requirements: 3.4 GPA, 25+ ACT, 1130+ SAT; Covers: tuition, fees, room & board, and books
Robert T. Mason Scholarship - Requirements: 3.2 GPA, 20-24 ACT, 970-1120 SAT; Covers: tuition and fees
Transfer Scholarship - Requirements: 3.0 GPA, 60+ Hours; Covers: $1,250.00 per semester
Taylor Grant - Requirements: 3.0 GPA, 18-20 ACT, 850-970 SAT; Covers: 12 Tuition
Pell Grant – need based grant offered to eligible under graduate students. Pell Grant Awards range from $488.00-$5,350.00.
Arkansas Challenge Scholarship(Lottery Scholarship) – Awarded to Arkansas residents who graduate from an Arkansas high school with a 2.5 cumulative high school GPA and at least a 19 on the ACT. The 2011-2012 value is $4500.00. To apply, click on www.adhe.ed.edu and then click on the YOUniversal tab on the left tool bar.
William D. Ford Direct Loans – low interest loans that are awarded to students to help cover their educational expense. Almost 85% of our student body borrows for their education. Student loans are a good investment in your education and should not be taken lightly. Borrowing sensibly is key to graduating with minimum student loan debt. For additional information and to begin the process, please visit www.studentloans.gov.
Federal Subsidized - A loan for which a borrower is not responsible for the interest while in an in-school, grace, or deferment status.
Federal Unsubsidized - A loan for which the borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan.
Parent (PLUS) - loans available to parents to help pay the educational costs of a dependent student who is enrolled at least half-time. The fixed rate for Federal PLUS Loans will be 8.50%. If applicable, parents may borrow up to the total cost of assistance less other financial aid.
On and off campus jobs are available for students. The program is designed to give students an opportunity to earn money to help pay for educational expenses. Students are paid monthly at the federal minimum wage rate. They may work up to 15 hours a week and are paid on the 15th of each month.
If you would like additional information about financial aid the application process, please take a look at our website at http://www.philander.edu/financial-aid/