Tuition & Aid
These need-based awards are available to undergraduate students only and do not normally have to be repaid. A student must be making Satisfactory Academic Progress to qualify for these grants.
Eligibility depends upon family income and ability to pay for higher education. The FAFSA is used by the government to determine the student’s eligibility and amount of grant available. The amount awarded depends upon the number of courses taken and the student's Estimated Family Contribution (EFC). Undergraduate students may receive a Federal Pell Grant each semester of attendance depending upon eligibility and number of courses taken.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is awarded to a student with a low EFC. Luther Rice provides 25% of the award in the form of a scholarship and federal funding supplies the remaining 75%. The smallest award is $100 per year. Funds are first awarded, depending upon availability, to Pell recipients with a 0 EFC.
The group of eligible students is identified after the last WD period of the first term of the award year (summer), and each student is awarded $100 per term (summer, fall, and spring) depending upon availability of FSEOG funds. This same practice will occur after the WD period for the next term (fall) resulting in eligible students awarded $100 per term for the remainder of the year (fall and spring) depending upon the availability of FSEOG funds. Likewise, the same practice occurs in the spring term depending upon the availability of FSEOG funds. If in any term the group size is too large for each eligible student to receive $100 per term for the remaining terms in the financial aid year, a random sample is determined from the group that is small enough to allow $100 for each remaining term for each student in the sample.
If excess FSEOG funds remain in the spring term after all spring Pell recipients with an EFC of 0 have been awarded, funds will next be awarded to spring Pell recipients with an EFC 1-100, followed by spring Pell recipients with an EFC between 101-200, 201-300, etc. who are enrolled in the spring term. Each award from any excess funds will be for the spring semester only and will be $100. If funds remain after these groups are exhausted, the next selection group will begin again with spring enrollees who have an EFC of 0 with the exception being the award will then go to those who did not receive Pell Grant funds. If a group size is too large for each eligible student to receive $100, a random sample small enough to allow $100 for each eligible student will be determined from the group.