Carnegie Mellon University
Office of Enrollment Management  ›  Student Financial Services  ›  Financial Aid  ›  Types of Aid  ›  Institutional Financial Aid

Carnegie Mellon Undergraduate Grant

A Carnegie Mellon Undergraduate Grant is awarded by the university to incoming students who have demonstrated financial need, which is determined through the application process. Students who complete and submit a FAFSA and CSS Profile are considered for this grant. 

Note:

Dependents of Carnegie Mellon employees who qualify for tuition remission are not eligible for a Carnegie Mellon Undergraduate Grant.

Endowed Scholarships

Students who receive a Carnegie Mellon Undergraduate Grant may be eligible to receive a named endowed scholarship. These scholarships are established by donors who are committed to supporting Carnegie Mellon and its students. Some donors are alumni, who were themselves the beneficiaries of student aid. Scholarships are offered to students who meet specific qualifications as designated by the donor. 

A named endowed scholarship does not change the total amount of financial aid offered; rather, endowed scholarships are university resources that fulfill a portion of the university-sponsored grant funding provided to the student. Students applying for financial aid are automatically considered for these funds. There is no separate application process.

Information for Scholarship Recipients

Students who are matched to an endowed scholarship will receive an email notification that a revised financial aid offer is ready to view in their My Student Aid portal. 

An endowed scholarship can establish a direct connection between the recipient and the donor. Many donors welcome the chance to meet or correspond with the students who receive their awards, which could provide a great opportunity for networking. University Advancement may reach out to recipients with further information about their donor and to request that recipients write a note of appreciation to their donor, attend an event for scholarship donors, and/or be in touch with their donor through an in-person meeting, email or phone call.

Yeknik Student Loan

The Yeknik Student Loan Fund is endowed by Wayne M. and Nancy Yeknik. It is an institutional loan awarded to students who:

  • Are second-year, third-year or fourth-year undergraduates
  • Have a cumulative 3.0 QPA
  • Have financial need as determined through a FAFSA and CSS Profile

Offered amounts are between $2,500 and $5,000. Borrower benefits include:

  • 4.0% fixed interest rate
  • Repayment begins 6-months after the student is no longer enrolled on at least a half-time basis while enrolled as an undergraduate at CMU (i.e., if the student graduates from CMU and then immediately goes to graduate school, then the student will enter a grace period 6 months after they graduate or are no longer enrolled on at least a half-time basis at CMU)
  • 5-year repayment schedule