Financial Aid 101 Who can get Financial Aid

Financial Aid 101 Who can get Financial Aid? When? Do I apply for Financial Aid? How? Who? What is considered Financial Aid? When are deadlines and what happens next? Mary Vergano Financial Aid Specialist Tarrant County College Northwest fahelp@tccd. edu

What is Financial Aid? Financial aid is money provided by the federal government, states, institutions and other sources to help students pay for college • This can consists of different programs – Grants – Loans – Scholarships – Work-Study Programs

Who’s eligible? ? ? General Eligibility Requirements: § Have a H. S. Diploma or § Not be convicted of an offense GED involving a controlled substance § U. S. Citizen or Eligible § Register for Selective Service Non-Citizen (Male Students) § Enroll for an eligible degree or § Not owe a refund on federal grant certificate program or be in default on a loan § Enroll at least 6 hours for most § Maintain Satisfactory Academic programs Progress

Application Process Every Financial Aid Program begins with the FAFSA § Free Application for § Federal Student Aid § Do not pay to process this free application § The student completes the § FAFSA at § www. fafsa. gov § Annual Process § FAFSA available in January each year for the Fall semester

*New* FSA ID’s § § Effective May 2015 Electronic signature Required for BOTH parent & student Adds additional 20 mins to FAFSA process

Senate Bill 1528 Students

How the Aid is calculated… The Financial Aid Office uses the following formula to determine eligibility: Calculate the Need: Cost of Attendance -Estimated Family Contribution (from SAR) Financial Need The EFC is figured by the federal processor from the information provided on the FAFSA

Examples of Cost – EFC = Need TCC Texas A&M § Dependent Student living at home § Undergraduate Student living in dorm Cost EFC Total Need $11, 541 1300 10, 241 $24, 024 1300 22, 724

Financial Aid Program Gift Aid: Funds that do not have to be repaid § Federal Pell Grant § Awarded over 115 million this year, so far § Limited to the equivalent of 6 FT years (EFC 0 -- 5198) § Federal SEOG (EFC 0 -- 5198) § TEXAS Grant (EFC 0 – 4620) § Must be in Recommended or Advance High School Program § 4 year institution only beginning 2014 -15 § TEOG Grant § Community/2 year institutions § § Texas Public Education Grant/Texas Equalization Grant Other ( Book Scholarship, Book Cards) Stars of Tomorrow (TCC Only) Scholarships

T-STEM Scholarship Texas Science, Technology, Engineering and Math Challenge Scholarship • High school graduate or GED • Have a 3. 0 on a 4. 0 scale in math/science • Maintain 3. 0 GPA • Enrolled in STEM major • Male Students Registered for Selective Services • Not based on financial need • Up to $2500 per year • For more information • www. tccd. edu/financial

Financial Aid Programs Cont. Self-Help: Must be repaid or must work for funds § Federal and State College Work-study § Allows students to work on or off-campus § Federal Subsidized Stafford and Unsubsidized Loans § Subsidized loans have deferred interest while in school § Unsubsidized loans no deferred interest

Satisfactory Academic Progress Federal Regulation for All Institutions §All Students • Must have a 67% completion rate of all hours attempted • Completed hours/Attempted hours • Must be at least 67% • Must have a cumulative GPA of 2. 0 • Maximum Timeframe a student is • eligible for financial aid • Cannot exceed 150% of publish program §Appeal process for students who do not meet standard depends on school’s policy Effective July 1, 2011 Can only receive aid for a class twice if you pass with A, B, C, or D

Degree Audits § Effective Summer 2015 § Must enroll in classes required for their degree plan in order for FA to cover § Check with a Counselor/Advisor if unsure of what classes to take

New Rules/New Limits LEU = Lifetime Eligibility Units • Students are limited to 6 FT years of Pell Grant (600%) • Each full-time payment equals to 50% of Pell grant – – Full-time ¾ time HT LHT 12 or more hours 9 – 11 hours 6 -8 hours 1 -5 hours 50% 38% 25% 12% UEH = Unusual Enrollment History • Students who attend 2 or more institutions in 3 year period are flagged • Must prove academic credit received to continue eligibility 150% = Subsidized Loan Limits • Community college students limited to 3 years • University students limited to 6 years

Information To Know… • • Deadlines • • Admission Deadline (2 weeks before classes begin) Financial Aid Deadline (May 1) • Electronic/Paper (MYTCC Email) • First-come, first served for most programs • TCC uses Higher One to disburse refunds • TCC Choice Card sent in mail to choose option Form of Communication Awarding Procedures Payment Procedures • • Leave refund on card Open Higher One Checking Account Have funds delivered to your own personal bank Paper check

More information to Know… • • Attendance Requirements • • Must establish attendance in ALL classes prior to ODR Funds will be adjusted or canceled and must be repaid • Pre-determined date each semester based on when school is required to report enrollment to state. Drops before ODR will result in aid adjustment and repayment of funds. Official Date of Enrollment • • • Last Date of Attendance • We must base repayment on the last date of actual enrollment or participation Dropping all Classes/All F’s • Students who drop ALL classes or receive All F’s may have to repay funds to school and/or government based on LDA

Have Questions? Contact Financial Aid § (817) 515 -4243 §Website § www. tccd. edu §Scholarship Sites § Collegeforalltexans. com § Collegeboard. com § Fastweb. com §Send email § fahelp@tccd. edu