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Eligibility for need-based grants is determined by completing the Free Application for Federal Student Aid (FAFSA). After the FAFSA has been processed, a response will be mailed calculating the student's eligibility for need-based grants. Families may estimate their eligibility by using the financial aid need estimator found on our Web site. Federal Pell Grant
Awarded to undergraduate students who qualify based on financial need. The maximum award is $4,731. Federal SEOG Grant
Awarded to Pell Grant recipients who demonstrate exceptional financial need. Not all Pell Grant recipients qualify. The maximum award is $500. Harding University Grant
Harding University will match a Pell Grant for a minimum of $1,000 and a maximum of $4,000 for the freshman year only. The following is a summary of education-related tax benefits. We highly recommend that you consult your tax advisor or review IRS Publication 970 for information on how these benefits might apply to your particular tax situation. Tax Credits
Tax credits allow for a dollar-for-dollar reduction of taxes. For example, a tax credit of $1,000 will reduce a family's tax liability by $1,000. Full tax credits are restricted to families with incomes under $100,000. Expenses that qualify for tax credits include school tuition and required fees, minus any tax-free grants or scholarships. HOPE Scholarship Tax Credit
A full $1,500 per-child tax credit may be claimed for the first two years of education. This tax credit covers 100% of the first $1,000 in payments for qualified tuition and fees and 50% of the second $1,000. Lifetime Learning Tax Credit
A $1,000 per-family tax credit may be claimed for students beyond the first two years of education. There is no limit on the number of years for which the credit can be claimed for each family. Tax Deductions
Families with incomes under $130,000 may deduct up to $3,000 for payment of tuition and fees incurred each tax year. Expenses that qualify for a tax deduction include school tuition and required fees, minus any tax-free grants and scholarships. Almost every student is eligible to work on campus in a work-study program. Positions are limited. For more information contact the office of Student Human Resources. A limited number of students qualify for non-academic discounts based on athletic ability or affiliation with selected organizations. Should a student be eligible for multiple discounts, only the highest discount will apply. Discounts of less than 50% may be combined withan academic scholarship, though not to exceed full tuition. Discounts of50% or greater may not be combined with an academic scholarship, except where noted. Click here for more information on tuition discounts. Payment for charges less financial aid is due in full at the beginning of the semester, and Harding University accepts checks, cash, Visa and Mastercard. Alternately, for a $25 convenience fee, remaining semester charges may be paid in four monthly installments over the course of the semester. Need-Based Federal Perkins Student Loan
Up to $2,500 may be borrowed per year for freshman and sophomore students who qualify. No interest accrues during periods of enrollment, and quarterly payments (at a 5% interest rate) begin nine months after leaving school. Apply by completing the Free Application for Federal Student Aid. Federal Stafford Student Loan
Each year, the following loan amounts are available to all eligible students:
| Freshmen: | $3,500 | | Sophomores: | $4,500 | | Juniors: | $5,500 | | Seniors: | $5,500 | | | | Graduates | $8,500 |
If the student and/or family demonstrates financial need, all or a portion of the above funds may be "subsidized" (interest paid) by the federal government during periods of enrollment. Funds are subject to a 1% origination fee, and repayment begins six months following graduation at a fixed rate of 6.8%. Apply by completing the Free Application for Federal Student Aid. In addition to Stafford Loan amounts listed above, independent students, graduate students, and families unable to obtain the Federal Parent PLUS Loan are eligible for supplemental unsubsidized funds according to the following schedule: freshmen and sophomores may borrow an additional $4,000; juniors and seniors may borrow an additional $5,000; and graduate students may borrow an additional $12,000. Federal Parent PLUS Loan
The federal Parent Loan for Undergraduate Students (PLUS) allows parents of the student's household or any biological parents who are credit-worthy to borrow up to the cost of education minus any other financial aid for their child. Funds are subject to a 4% origination fee. Repayment begins within 60 days of final disbursement, but borrowers may request an in-school forbearance for up to 60 months (5 years) while the student is enrolled. The interest rate for this loan is fixed at 8.5%. To apply, the parent may complete the online Federal PLUS Loan Application, or contact the Sallie Mae Parent Answer Service at 800-891-1410 to begin the application process. First-time borrowers should follow the on-screen links. If you are a previous borrower, please contact our office for PLUS loan renewal options. If you have a prior PLUS loan not serviced by Sallie Mae and wish to remain with that same lender, contact your prior lender for a PLUS loan application. When a PLUS loan is denied due to adverse credit, the student is automatically eligible for the Supplemental Stafford Loan. Scenario #1: Total Family Income: $50,000
Number in Household: 4
Number in College: 1 | Estimated Package: | Tax Savings (Hope Tax Credit) 1,500.00 | Family Contribution ($500 per month*) 4,500.00 | Work-Study 1,500.00 | Pell Grant 400.00 | 4,000.00 | 1,500.00 | Harding Grant 1,000.00 | Perkins Loan 2,500.00 | Stafford Loan 1,968.00 | Total** 18,868.00 |
Scenario #2: Total Family Income: $150,000
Number in Household: 4
Number in College: 1 | Estimated Package: | Family Contribution ($500 per month*) 4,500.00 | Work-Study 1,500.00 | 4,000.00 | Stafford Loan 3,500.00 | Federal Parent PLUS Loan 5,368.00 | Total** 18,868.00 |
Scenario #3:
Total Family Income: $60,000
Number in Household: 5
Number in College: 1 | Estimated Financial Package: | Tax Savings (Hope Tax Credit) 1,500.00 | Family Contribution ($500 per month*) 4,500.00 | Work-Study 1,500.00 | 4,000.00 | Perkins Loan 2,500.00 | Stafford Loan 3,500.00 | Federal Parent PLUS Loan 1,368.00 | Total** 18,868.00 |
Scenario #4:
(Family of 5 including 2 children in
college and 1 child not in college)
Total Family Income: $60,000
Number in Household: 5
Number in College: 2 | Estimated Financial Package: | Tax Savings (Hope Tax Credit) 1,500.00 | Family Contribution ($500 per month*) 4,500.00 | Work-Study 1,500.00 | Pell Grant 1,250.00 | 4,000.00 | 1,500.00 | Harding Grant 1,250.00 | Perkins Loan 2,500.00 | Stafford Loan868 .00 | Total** 18,868.00 |
Scenario #5:
(Single mother with 1 child in college
and 3 children not in college)
Total Family Income: $23,000
Number in Household: 5
Number in College: 1 | Estimated Financial Package: | Family Contribution ($500 per month*) 4,500.00 | Work-Study 1,500.00 | Pell Grant 4,731.00 | SEOG Grant 500.00 | 4,000.00 | 1,500.00 | Harding Grant 4,000.00 | Total** 18,868.00 | | |
* Families may pursue additional PLUS or private loan funding in lieu of the recommended $4,500 family contribution.
** Total package of $18,868 is based on anticipated costs for the 2008-09 year, which is approximately 3% to 5% above prior year prices. Consult our catalog or Web site for actual current year costs.  This page contains examples of financial aid packages that might be offered to Harding students with varying financial resources. Each example assumes that a family contributes $500 per month toward educational costs (for nine months of enrollment), and the ability to decrease tax withholdings in anticipation of available tax credits. Work-Study funds are paid in bi-weekly installments over the course of the academic year, as earned. The actual aid package may be more or less depending on the student’s credentials and the family’s specific financial situation. Please visit our scholarships page for information regarding financial assistance.
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