At Mount Olive College, we strive to make college affordable for each of our students in Mount Olive, Research Triangle Park, New Bern, Wilmington, and beyond. Whether you choose to attend school as a part-time or full-time student, it is our goal to provide you with the resources you need to successfully pay for college.
We truly believe that every worthy and capable student should have an opportunity to attain a college education. Throw out any ideas you have about not being able to afford a great education — we make college possible for students every day.
How to Apply for Financial Aid
Click on one of the buttons below to find out how to apply for financial aid as a Mount Olive College student or explore the information on this page to learn about general financial aid at Mount Olive College.
Potential financial aid benefits including state and federal grants, as well as student loans, and are available contingent on eligibility:
- US citizen or permanent resident
- Officially accepted as a degree-seeking student to Mount Olive College
- Maintain satisfactory academic progress in a major course of study
- Not be in default on an educational loan or owe a refund on a grant received at another college
If you are a re-admit student, please contact the Mount Olive College campus location you plan to attend — one of our admissions officers will be happy to discuss your plans to re-enroll, including financial aid options.
If you are a transfer student, you will either be applying as a traditional student/incoming freshman (under 21 years of age) or a nontraditional/adult student (over 21 years of age).
Information About the Free Application for Federal Student Aid
All students at Mount Olive College can apply for financial aid by completing the Free Application for Federal Student Aid (FAFSA). Once a FAFSA has been processed, one of our friendly financial aid counselors will develop a customized financial aid package showing what federal funds are available and what out-of-pocket expenses will be needed.
What is FAFSA?
The Free Application for Federal Student Aid (FAFSA) is used to determine what a family or individual can contribute toward educational expenses per academic year.
If you are an incoming freshman, working adult or other student interested in need-based financial aid, you will need to submit a completed FAFSA (school code 002949) to Mount Olive College. The form is available at public libraries, local high school guidance offices, financial aid offices or online. If you are applying online, you also have the option to sign the FAFSA online with a PIN number.
NOTE: The NC General Assembly recently changed the Legislative Tuition Grant (LTG) and the NC State Contract program so that all grants are now related to financial need.
The FAFSA asks for financial information about you and your family, including income and asset information, as well as your academic background. Within 3 to 4 weeks of the date you file your FAFSA, you and the financial aid office at Mount Olive College will each receive a Student Aid Report (SAR) based on the information you reported in your application. Be sure to check your SAR for errors and let us know if there are any corrections. Mount Olive College will develop a financial aid package for you based on the information in your SAR.
Mount Olive College strongly advises students and parents to complete the FAFSA using the IRS Data Retrieval Tool. If you have already completed your FAFSA and did not use the IRS Data Retrieval Tool, please view this short video for detailed instructions.
Mount Olive College Financial Aid Packages
How to Complete Your Financial Aid Package
Documents required to complete your financial aid package are available on the MOC Financial Aid Portal.
- Go to MYMOC.
- Click “Sign In” in the blue bar on the top of the screen.
- Sign in using your email username and password.
- Click on the MOC Financial Aid Portal under quick links, on the left side of the screen.
- Under “Log In,” enter your student ID (include P and all the zeros). If this is your first time logging in, click “First Time User” under the submit button. If you are not a first time user, please log in with your student ID and existing PIN (not your PIN associated with FAFSA).
Building a Financial Aid Package
The first step to finding a financial aid package that works for you is knowing what's available. Students at Mount Olive College have three major options: gift-aid, which is made up of scholarships and grants; self-help, which incorporates work study; and loans.
- Gift-aid includes grants and scholarships from resources that do not need to be repaid. Some of those resources include Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, and NC State grants, Mount Olive College scholarships based on merit, athletic ability and talent and outside scholarships.
- Self-help funds are reserved for needy students who are eligible for Federal Work Study. Most students choose to work to help offset their tuition cost.
- Loans must be repaid. Usually, repayment does not begin until at least 6 months after the last day of full-time enrollment. Some of those programs include the Federal Perkins Loan and the Federal Direct Loan program. Mount Olive College is the lender for a borrower under the Federal Perkins Loan Program. Campus Partners is the service agent of the Federal Perkins Loan.
By combining institutional scholarships and grant programs with federal and state assistance, Mount Olive College makes college possible for deserving and qualified students like you. For an estimated aid package, complete the Mount Olive College net price calculator.
Additional Ways to Offset the Cost of Paying for College
The Hope Scholarship Tax Credit
The Hope Scholarship tax credit allows families to claim an annual tax credit of up to $1,500 for each of the first two years of college for each eligible student. An eligible student is one who is carrying at least one-half the normal full-time course load at a qualified educational institution and is enrolled in a degree program.
A student or a taxpayer may claim the credit for his or her spouse or dependent children. Expenses for books, room, board, athletics, and insurance are not included in this calculation.
The Hope Scholarship tax credit is phased out for joint filers with $85,000 to $105,000 of annual adjusted gross income, and for single filers earning between $42,000 and $52,000 yearly. The credit can be claimed in two taxable years of college and by students who are enrolled at least half-time for any portion of the years. Visit the IRS online for more information on tax credits.
Lifetime Learning Tax Credit
The Lifetime Learning Credit is for students who are returning to college as juniors, seniors, graduate or professional students. The maximum credit a taxpayer may claim for a taxable year is $2,000. Unlike the Hope Credit, there is no limit to the number of years in which a Lifetime Learning Credit may be claimed.
The credit is available for tuition and required fees, grants, scholarships and other tax-free educational assistance, for amounts paid on or after July 1, 1998 and for post-secondary enrollment beginning on or after July 1, 1998.
Student Loan Interest Deduction
Taxpayers who have loans to pay for the cost of attendance at an eligible educational institution may generally deduct interest they pay on student loans for themselves, their spouse or their dependent(s).
The deduction is available only during the first 60 months in which interest payments are required on the loan-for payments due and made on or after January 1, 1998. The maximum interest that may be deducted varies from one tax year to another. We recommend speaking with your financial planner or tax consultant if you believe you are eligible for this benefit.
Monthly Payment Plan
For many students and their families, a monthly payment plan is the best way to budget for school expenses. The Mount Olive College payment plan is administered by Nelnet Business Solutions. The Nelnet plan enables you to pay all or part of your tuition and fees in monthly installments without interest charges. Please note that there is a $45 enrollment fee for a yearly plan and a $25 enrollment fee for a semester plan.
Helpful Financial Aid Links for New Incoming Freshmen, Transfer Students, Adult Students, Military Students & International Students
- Campus Partners
Contact Mount Olive College’s Financial Aid Office Today
At Mount Olive College, we strive to develop a personal relationship with each of our traditional and adult students alike. We look at each student individually and package financial aid based on his or her unique needs.
Please take a moment to sit down with one of our financial aid counselors and discuss your options. We’d be happy to help you find the best way to pay for your college education. Call today to get started!
Ms. Katrina Lee, Director of Financial Aid
Mount Olive College is a private institution rooted in the liberal arts tradition with defining Christian values. The College, sponsored by the Convention of Original Free Will Baptists, has locations in Mount Olive, New Bern, Wilmington, Goldsboro, Research Triangle Park, Washington and Jacksonville.