Only full-time students are eligible for Centenary institutional scholarships, but students enrolled at least half-time (six hours per semester) and seeking a degree are eligible to apply for any federal financial aid programs by filing the FAFSA.

Undergraduate students enrolled less than half-time may be eligible for a Federal Pell Grant. Eligibility for the Pell Grant is also determined by filing the FAFSA.

All other students enrolled less than half-time, and students who are not seeking a degree, may consider an alternative loan.