Centenary Announces New Financial Aid Initiative

CAP program guarantees financial assistance to families with incomes under $200,000

Magale Library

SHREVEPORT, La.—Centenary College announced today a new addition to the Centenary Affordability Program (CAP) for undergraduates, beginning in the academic year 2010-11, to ensure that Centenary remains accessible to academically talented students regardless of their financial situation.

The third piece of CAP will guarantee a minimum of $5,000 per year, or $20,000 over four years, in Centenary assistance to students from families with Adjusted Gross Incomes under $200,000 for new students entering in the fall of 2010. Students, however, who have already been awarded Centenary-based funds equal to or greater than $5,000 have already met the minimum and would not receive this additional assistance.

In announcing the initiative, Tim Crowley, Dean of Admissions said, "The addition of this program to the existing CAP program will ensure that more students are better able to take full advantage of the Centenary experience. The College has long been committed to helping qualified students attend Centenary, and we are pleased that we could make this further enhancement to our financial aid program as we seek to keep Centenary affordable and to continue to enroll the most talented students from around the country."

According to U.S. Census data, approximately 93 percent of U.S. households earn less than $200,000; nearly 60 percent earn less than $75,000; and the median family income is $63,366. These families have the most financial difficulty sending their children to college.

This new financial aid program joins the Centenary Affordability Program, an innovative financing solution utilizing both academic scholarships for students and an interest-free parent loan. The first part of the initiative is to assist students with their effort to pay for college. The second part of the program is to help parents save as they fund their student's four-year education at Centenary.

"We know that paying for college is a family commitment," said Crowley. "Through CAP, we have made it easier for our students to apply for academic scholarships, and provided help for parents who have chosen to send their students to Centenary. This new addition continues to demonstrate the College's commitment to a diverse enrollment in the current environment of growing tuition costs nationwide. The College firmly believes that access to a Centenary education is not only an offer of admission, but should come with some financial options to make it accessible for more students."

For more information on this program, contact the Office of Admissions toll-free at 800.234.4448 or 318.869.5131. Interested parents can also contact the Office of Financial Aid at 318.869.5137.

About Centenary College of Louisiana

Centenary College is a private, four-year arts and sciences college affiliated with the United Methodist Church. Founded in 1825, it is the oldest chartered liberal arts college west of the Mississippi River and is accredited by the Southern Association of Colleges and Schools. Centenary is one of 16 colleges and universities constituting the Associated Colleges of the South and has been recognized as "One of the Best 371 Colleges" by the Princeton Review and one of "America's Best Colleges" and one of "America's Best Private Colleges" by Forbes.com. In 2008 Centenary College celebrated 100 years in Shreveport and Bossier City.