If you are an adult student considering a University of Mount Olive education, your first concern should not be the burden of how to pay for it. Finding the “right fit,” the best academics, and the most positive environment should be your top priority. That’s why making college as affordable as possible is one of our primary goals at University of Mount Olive.
In order to assist in offsetting the cost of paying for college, University of Mount Olive is committed to helping each and every incoming adult student obtain the best financial aid package available. Our dedicated financial aid counselors are ready and available to meet with you individually to discuss the best options for you.
Explore the page below to learn how to apply for financial aid as a continuing education student at University of Mount Olive.
Financial Aid Packages for Working Adults at University of Mount Olive
Follow these steps to secure your adult financial aid package:
Step 1: Apply for financial aid.
The Free Application for Federal Student Aid (FAFSA) is used to determine what a family can contribute toward educational expenses per academic year. All students at University of Mount Olive (except non-US citizens) must complete a FAFSA.
To apply for need-based financial aid at University of Mount Olive, you will need to submit a completed FAFSA. You may first obtain a FAFSA PIN number at any time by visiting www.pin.ed.gov. To ensure that your FAFSA information is sent to University of Mount Olive, please include the school code of 002949.
Paper copies of the FAFSA are available at:
- Public libraries
- Local high school guidance offices
- Financial aid offices
The FAFSA asks for financial information about you and your family, such as income and asset information, as well as your academic background. You will 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. We will develop a financial aid package for you based on the information in your SAR.
To be eligible for financial aid, you must meet the following general requirements:
- Be a US citizen or permanent resident
- Be officially accepted as a degree or licensure-seeking student to University of Mount Olive
- 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
Step 2: Register for the upcoming semester.
Step 3: Visit MyFinancialAid.
- First Time Users: Log in with your full, 10-digit Student P-ID number (ex. P000123456) and create your PIN with the “First Time User” link.
- Returning Users: Log in with your full Student P-ID number and the PIN that has been created — click “Submit.”
- Follow the prompts and agree to the Terms and Conditions of Financial Aid. Click “Submit.”
- Click on the “Apply Online” tab, answer the questions, and click “Submit.”
- Click on the “Accept Awards” tab, agree to the “Terms and Conditions,” and click “Submit.”
- Review your awards, click “Accept All,” then click “Submit.”
If you are not interested in the full annual amount of student loans, please contact your financial aid counselor to determine the proper amount to borrow.
Details About Adult Student Financial Aid Packages from University of Mount Olive
By combining institutional scholarships and grant programs with federal and state assistance, University of Mount Olive makes college possible for deserving and qualified working adult students like you:
- Self-help funds are reserved for needy students who are eligible for Federal Work Study. Most students choose to work to help offset tuition costs.
- Loans must be repaid. Usually, repayment does not begin until at least six months after the last day of full-time enrollment. Some of those programs include the Federal Perkins Loan and the Federal Direct Loan program.
For an estimated aid package, click on the button below:
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 University of Mount Olive 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 $45.00 enrollment fee.
Helpful Financial Aid Links for Adult Students at University of Mount Olive
- Campus Partners - Campus Partners is the borrower service agent of the Federal Perkins Loan for University of Mount Olive students.
- College Foundation of North Carolina - CFNC provides helpful information for North Carolina college students interested in paying for and saving for college, including info on NC resident-specific scholarships.
For more information about financial aid services at University of Mount Olive:
Visit Financial Aid Overview Page
University of Mount Olive 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.