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Published byNestor Bedell Modified over 8 years ago
Howard Community College Financial Aid Services 1
Gift Aid GrantsScholarships Self-Help Aid Work StudyLoans 2
COA Room & Board Books & Supplies Tuition & Fees Transportation Miscellaneous Expenses 5
What is it? Assigns a “number” based on financial situation that the family can “expect” to contribute to the student’s COA It is calculated according to a formula established by federal law and does NOT change based on institution attending How is it calculated? Information the family reports on the student’s Free Application for Federal Student Aid (FAFSA) Looks at family's taxed and untaxed income, assets, benefits, family size and number in college 6
Student must: be a U.S. Citizen or Eligible Non-Citizen have a valid Social Security Number demonstrate you are qualified to enroll in postsecondary education (e.g. have a high school diploma or GED) be enrolled in an eligible degree program not be in default on any Federal Student Loan register with Selective Service if you are a male between the ages of 18 and 25 certify that you will use federal student aid for educational purposes maintain Satisfactory Academic Progress 7 Note: Other conditions may apply
What you will need: 1. Your social security number 2. Your federal student aid pin 3. Your financial records 4. An email address 5. About an hour of your time 8
Students and Parents must apply for a PIN The PIN serves as a valid electronic signature Don’t leave any questions blank Complete all questions as accurately as possible March 1 st is the priority filing date for many sources You can use your estimated tax information if you and your parents have not yet filed your taxes Be sure to sign it with both PINs and hit the submit button 9
You will receive a Student Aid Report (SAR) It will contain your Expected Family Contribution (EFC) The schools that you list on the FAFSA will receive the information electronically Financial Aid Offices will process your application If you need to submit additional documents, follow up immediately or it will delay the process You will receive notification of your financial aid eligibility 11
Grants PELL Grant (up to $5,730/year) Supplemental Education Opportunity Grant (SEOG) (up to $4,000/year) Work Study Need based award provides funds earned through part-time employment on and off campus (earn up to $3,000/year) 12
Stafford Student Loan Subsidized Stafford Loans (Need Based) Government pays the interest while enrolled in college at least half time or until graduation. Unsubsidized Stafford Loans Student is responsible for paying all of the interest on the loan (even though payments not required until 6 months after graduation or enrolled less than half time) Parent PLUS Ability to choose to defer payment while dependent child is in school. Up to Cost of Attendance (COA) less other aid received 13
Grants and Scholarships Maryland Higher Education Commission (MHEC) administers over 20 programs for the State of MD Parent and student must be a Maryland State Resident Some programs require an additional application available on MHEC’s website (www.mhec.state.md.us)www.mhec.state.md.us Examples of State Aid Need-based (file the FAFSA by March 1 st each year): Educational Assistance Grant (up to $3,000 /year) Guaranteed Access Grant (up to $14,300/year) Part-Time Grant (up to $2,000/year) Legislative: Senatorial (range from $200-$9,000/year) Delegate (range from $200-$9,000/year) 14
Grants Grants from the institution based on need Work Study Institutional Work Study Scholarships Awarded by the institution based on various criteria Financial Need Academic Merit Learning Program Special Skills or Talents Volunteer Experience **PAY CLOSE ATTENTION TO DEADLINES** 17
Financial aid funding that comes from private organizations Civic Organizations Professional Associations Private Businesses Funds may or may not be awarded through Financial Aid Services Use reliable scholarship search services http://www.fastweb.com http://www.fastweb.com http://www.collegeboard.com/student/pay http://www.collegeboard.com/student/pay http://www.finaid.org http://www.finaid.org 18
Cash, Check or Money Order Tuition Payment Plans 529 Savings & Prepaid Tuition Programs Employer Tuition Reimbursement Plan Military Tuition Assistance Veterans Benefits and Veterans Deferred Payment Plan Tuition Waivers Alternative Loans 19
Howard Community College’s Financial Aid Services Department – community resource RCF – 222 HCC’s Financial Aid website Publications The Guide to Federal Student Aid Maryland Higher Education Commission Other websites that end in: gov ed edu 20
Located in RCF- 222 Phone: 443-518-1260 Fax: 443-518-4576 E-Mail: email@example.com Webpage: Go to www.howardcc.edu Select “Admissions & Enrollment” tab Click on “Pay for College” Select “Financial Aid Services” on the left column 21
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