Student Financial Aid

What is Financial Aid? Financial Aid consist of funds intended to help students pay for expenses associated with pursuing a college education.

Types of Financial Aid Grants: Money that does not need to be repaid Pell Grant Federal Supplemental Educational Opportunity Grant Federal Texas Grant* Texas Educational Opportunity Grant Texas Public Education Grant State

Types of Financial Aid Work-study: Money that is earned Flexible Work Schedule Work On or Off Campus Earn Your Money Part-time Job

Types of Financial Aid Loans: Money that must be repaid Government pays for interest accrued Direct Subsidized Student pays for all interest accrued Direct Unsubsidized For parents of undergraduate students Direct PLUS Credit-based loans College Access Loan/Sallie Mae

Types of Financial Aid Scholarships Looks at grades, test scores, community service activities, etc. Merit Based Looks at financial need Cost of Attendance – Expected Family Contribution(EFC)= Financial Need Need Based Offered directly by a college/university Every college or university is allocated certain scholarship funds to award students Institutional Offered by businesses, companies, private organizations, etc. Private

WHERE TO START? The financial aid process always begins with completing the Free Application for Federal Student Aid (FAFSA). WHAT IS IT? Application for Federal & State Grants, Work-study and Loans WHEN TO COMPLETE IT? New for 2017-2018 As early as October EVERY year (using 2 year prior tax information) Link to IRS WHERE TO COMPLETE IT? www.fafsa.ed.gov WHY APPLY EARLY? Applying early increase your chances of receiving additional aid

WHAT DO I NEED TO APPLY? FSA ID: The FSA ID replaced the PIN and consists of a username and password to electronically sign your application and also access personal information on Federal Student Aid Websites Student & Parents’ Personal Information: Name, Social Security Number, Date of Birth, etc. Income/ Wage Information: Income Tax Return(s) & W-2(s) – beginning in 2017-2018 students will use 2 year prior tax information Other Financial Information: Child Support, Workman’s Compensation, etc.

WHAT HAPPENS AFTER I APPLY? Check your status Visit your institution’s financial aid website Compare college costs versus financial aid award Decide where you want to go to college!

Students must satisfy 3 requirements Maintain Eligibility Students must satisfy 3 requirements Good Warning Suspension Complete 67% of courses attempted Maintain overall GPA at 2.0 Graduate within the Maximum Time Frame MTF= Required hrs to graduate x 150% Students whose circumstance(s) impeded them from attending and/or passing their classes have the right to appeal their suspension with the Office of Student Financial Services.

HOW DO AWARDS WORK? Full Time (EFC: 0) Fall Spring Total Student Award $2,908 $2,907 $5,815 When ALL outstanding requirements are complete, award is applied to tuition and fees 10 days before 1st class day. $2,908 -$1,300 $1,608 Student’s Financial Aid Award  Total Tuition and Fees  Book Allowance/Final Refund  *The amounts exemplified above are not applicable to every student. Awards, tuition/fees, and refunds vary from student to student. Example was created to demonstrate disbursement process.

Financial Aid Tips Not sure if you will receive any aid? DO the application, that’s the only way to find out. Know the FAFSA deadline for the school of your choice. Research, Research, Research Verify if financial aid needs to be accepted or if it is auto select at the school of your choice

Senate Bill 1528 Senate Bill 1528 permits students that are neither US Citizens nor Permanent Residents to be classified as Texas residents for admissions and financial aid purposes, thus making them eligible for State Aid. Here are the requirements that must be satisfied: Must have lived in Texas at least 3 years before receiving their High School (in Texas) diploma or GED Must have lived in Texas at least 3 years before enrolling in a public college/university (in Texas) Must fill out an affidavit with the Office of Admissions & Records declaring that he/she will apply for residency as soon as able to do so

Checklist for completing your TAFSA packet Texas Application for State Financial Aid (TASFA) Tax Documents Tax Filers must submit an IRS Tax Return Transcript Non-tax filers must submit a Notarized Income Statement Selective Service Registration Card (males only) Complete the process! Submit the following documents: Admissions Affidavit: This notarized statement can be obtained from and must be submitted to Office of Admissions and Records. High School Transcript: Once you have graduated from high school, be sure that the Office of Admissions and Records has received a copy of your final official high school transcript.

Comparison of Expenses Tuition & Fees $3,480 $7,292 $9,810 $9,494 Books & Supplies $1,200 $1,194 $750 Room & Board $5,548 $6,946 $11,456 $10,338 Other (Personal Expenses, Transportation, etc.) $2,663 $5,222 $4,310 $3,000 Total $12,891 $20,654 $26,326 $24,026 Source: collegeforalltexans.com

For More Information.. Let’s watch this to summarize FAFSA OVERVIEW

Questions?

Contact Information www.southtexascollege.edu/finaid South Texas College- Pecan 3201 West Pecan Blvd Student Services Building K 1.700 McAllen, Texas 78501 Phone: (956) 872-8375 South Texas College- Mid-Valley 400 North Border Student Services Building F 121 Weslaco, Texas 78596 Phone: (956) 447-6672 South Texas College- Starr 142 FM 3167 Student Services Building G 1.410 Rio Grande City, Texas 78582 Phone: (956) 488-5803 Phone: (956) 488-5859 South Texas College- Technology 3700 West Military Hwy. W Building Student Services Area Room 176 McAllen, Texas 78501 Phone: (956) 872-2728 South Texas College- Nursing & Allied Health 1101 East Vermont Student Services Area Room 1.406 McAllen Texas 78503 Phone: (956) 872-3019 facebook.com/SouthTexasCollegeFinAid @STCFinancialAid STC Student Financial Services