FINANCIAL AID 101

1. Your Logo Here FINANCIAL AID 101 Trina Smith-Patterson Director, Financial Aid Tarrant County College NW Fahelp@tccd.edu www.tccd.edu

2. 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 • Stipends • Fellowships

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

4. 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

5. Not ready to fill out the FAFSA?... • FAFSA 4Caster • http://www.fafsa4caster.ed.gov • Provides general info on the FAFSA • Gives an early estimate of eligibility • Gives “estimated” financial aid packages • Allows student to transfer information to actual FAFSA • Populates certain fields on actual FAFSA

6. Know Priority Deadline at each Institution • Know your school’s Priority Deadline • File completion deadline • Means all required documentation to process aid is received by FAO • Meeting priority deadline guarantees processing before tuition due date • TCC—April 15 each year • Files processed on first-come, first-served basis • The earlier students apply, the more aid available Remember: Apply for aid no later than 2nd week of March.

7. What happens next??? • The Federal Processor Reviews Data and Assigns Estimated Family Contribution (EFC) • Student is Sent a Student Aid Report (SAR) and TCC receives an electronic ISIR • An email or letter is sent to student requesting required documentation to complete file TCC uses Campus Cruiser Email Address: Example firstname.lastname@my.tccd.edu

8. Understanding What We Do… • 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

9. TCC Dependent Student living at home Cost $9153 EFC 1300 Total Need 7853 SMU Undergraduate Student living in dorm Cost $ 50005 EFC 1300 Total Need 48705 Examples of COA and Aid

10. Financial Aid Programs • Gift Aid: • Funds that do not have to be repaid • Federal Pell Grant (EFC 0 -- 4617) • 26.2 Million awarded 08-09 • 49.6 Million awarded 09-10 • Academic Competitive Grant (EFC 0 -- 4617) • Must be in Recommended or Advance High School Program • Only Available the first two years of Academic study • Federal SEOG (EFC 0 -- 4617) • TEXAS Grant • Must be in Recommended or Advance High School Program • Other Grants (TPEG, SLEAP,LEAP) • Stars of Tomorrow (TCC Only) • Smart Grant (4-year schools only) • TEACH Grant (Most 4-year schools) • Scholarships

11. Aid Programs Continued • 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 • Alternative Loan Programs • Not recommended by many Financial Aid Offices • Higher interest rate • Based on Credit report

12. Top 10% Scholarship • Initial Eligibility Requirements • Be a Texas resident • Demonstrate financial need • Apply for Financial Aid by April 1 • Recommended or Distinguished Achievement HS curriculum • Rank in the top 10 percent • Graduate from an accredited high school in Texas • Enroll fulltime in a Texas public 2-year or 4-year college or university in fall 2009 • Renewal Requirements (contingent upon available funding) • Complete 30 semester credit hours (SCH) in the previous year • Maintain cumulative 3.25 GPA • Complete at least 75% of hours attempted

13. Be-On-Time Loan…??? • Initial Eligibility Requirements • Be a Texas resident • Recommended or Distinguished Achievement HS curriculum • Be enrolled Fulltime • Not eligible to receive TEXAS grant due to higher EFC or School has exhausted all TEXAS grant funds

14. Satisfactory Academic Progress • All Schools are required to have a policy • Policy must define: • The number of hours you must complete • GPA requirements • What happens when you fail to meet the standards • Maximum Timeframe a student is eligible for financial aid • How they treat transfer hours • Whether a student can appeal and the appeal process • Policy may differ from College to College

15. What should students avoid? • Withdrawing before the Official Date of Record • Financial aid is prorated based on the number of hours enrolled as of census date • 100% for 12+; 75% for 9-11; 50% for 6-8 and 25% for 3-5 • If student drops a class before ODR, will have to repay funds • Dropping even 1 class may result in owing funds • Dropping all classes before completing 60% of semester • Has not earned their financial aid until this point • May have to return funds to TCC and/or government • No appeal process for returning funds • Receiving all F’s may also result in not earning the funds • A GPA lower than 2.0 • We monitor GPA by semester as well as cumulative

16. For More Information • Contact Financial Aid • (817) 515-4243 • Website • www.tccd.edu • Collegeforalltexans.com • Collegeboard.com • Fastweb.com • Send email • fahelp@tccd.edu