Spalding Institutional Aid Policy
Spalding Institutional Aid requires full time enrollment in each semester that it is awarded. Institutional funds will be applied to the remaining balance on student accounts after all other grant and gift aid and will only pay up to the cost of University tuition, room and board charges on the given semester.
Need Based Awards
The Muhammad Ali Award is offered to undergraduate, day students with demonstrated need. The maximum award amount is $7000. The University’s goal is to meet student need up to 75%.
Need is calculated by subtracting the estimated family contribution from the cost of 30 undergraduate credit hours. Next other sources of grant and gift aid are subtracted. Students must complete the FAFSA to be eligible for the Ali Award. Awards are based on full time enrollment for two semesters.
Tuition Cost = $25,900 Full time tuition rate 12-18 hours
Need = ($25,900 – EFC )*.75
If greater, than $7000 the award is $7000 for the year.
If less than $7000, this is the award amount for the year.
Traditional Merit awards are given to students based on high school performance and ACT or SAT results using the following Matrix. The Merit Award is renewable for up to 4 years as an undergraduate student and assumes full time enrollment for the fall and spring semesters. The award is for tuition, fees, room and a university meal plan only and will be applied to student accounts after all other grant and gift aid.. Students must maintain a 3.0 GPA and full-time enrollment to be eligible for these awards. Please note these awards may have to be reduced if the student receives other grant and gift aid.
We award academic (or merit-based) scholarships to first-time, full-time students, who pay our undergraduate daytime tuition rate. A completed application for admission is required, and the minimum academic requirements are as follows:
HIGH SCHOOL GPA
2.50 – 2.99
3.00 – 3.49
3.50 – 4.0+
Students with at least an 18 ACT composite score (or an equivalent SAT score) receive their score X $100
Please note: Base and bonus awards will be combined for one merit award on your financial award package
Transfer Merit: Transfer students will be evaluated for a transfer merit of up to $8,000 as long as they have a minimum transfer GPA of 3.0. Transfer merit is for day student, requires full time enrollment and may be reduced if the student receives other grant and gift aid.
Tuition Exchange Programs and Employee Tuition Remission
Spalding University is a participating member of the Council of Independent Colleges Tuition Exchange Program (http://www.cic.org/Pages/default.aspx) and Tuition Exchange Inc. (www.tuitionexchange.org). These exchange programs provide full tuition for up to 8 semesters for eligible dependents of employees of participating colleges and universities. Tuition exchange awards from CIC and Tuition Exchange Inc. supersede any previously awarded need-based or merit based University awards. Students receiving tuition exchange must maintain a 2.0 GPA and complete 24 hours by the end of each academic year. Each year, exporting institutions must certify continued eligibility according to their policies.
Employee tuition remission and tuition remission for dependents may also impact the amount of merit and need based awards in accordance with the University Policy Guide section 18.104.22.168.1.2.
We award the Heartland scholarship—a 10 percent reduction in tuition, room and board—to undergraduate students who maintain full-time enrollment status, live on Spalding’s campus and are residents of Alabama, Georgia, Illinois, Indiana, Iowa, Maryland, Michigan, Missouri, Ohio, Tennessee, Virginia, Washington DC or West Virginia.* A completed application for admission by May 1 is required. This award is for first year, full time students at Spalding beginning in the 2020-2021 school year.
*Other non-Kentucky residents may be considered for the Heartland Scholarship