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MCHENRY COUNTY COLLEGE. Financial Aid Overview. MCC – PROMISE . Due to overwhelming demand, new applications for the MCC Promise are no longer being accepted. www.mchenry.edu/promise Northwest Herald 9-24 & 9-25 October, 22 nd 2009 (815)479-7707. THE FAO STAFF. Laura McGee– Director

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mchenry county college

MCHENRY COUNTY COLLEGE

Financial Aid Overview

mcc promise
MCC – PROMISE

Due to overwhelming demand, new applications for the MCC Promise are no longer being accepted.

  • www.mchenry.edu/promise
  • Northwest Herald 9-24 & 9-25
  • October, 22nd 2009
  • (815)479-7707
the fao staff
THE FAO STAFF
  • Laura McGee–
    • Director
  • Lynn McCabe –
    • Specialist/Veterans
  • Carolyn Gray–
    • Specialist/Scholarships
  • Leana Davis –
    • Specialist/Outreach/Work Study
  • Maria Tech –
    • Specialist/Promise
  • Annette Roewer–
    • Part-time Assistant
  • Brittany Menta–
    • Part-time Assistant
what is financial aid
WHAT IS FINANCIAL AID

GIFT AID:

  • Grants
  • Scholarships

SELF HELP:

  • Loans
  • Work Study
grants
GRANTS

FEDERAL

  • PELL
  • SEOG
  • ACG/SMART

STATE

  • MAP
  • IIA
  • INSTITUTIONAL
  • Four Year Universities
  • Private Universities
loans
LOANS
  • Federal Stafford Loan/Federal Direct Loan
    • 6.8% fixed
  • Federal Perkins Loan
    • 5.0%
  • Federal Parent Loan (PLUS)
    • 8.5% interest
  • Institutional Loan
    • varies
  • Alternative/Private Loan
    • varies
scholarships
SCHOLARSHIPS
  • HS Guidance Office
  • College website
    • mchenry.edu/scholarships
  • State of Illinois website
    • collegezone.com
  • Clubs & organizations
  • Labor unions & employers
  • Online scholarship search
scholarship application tips
Scholarship Application Tips
  • Never pay a fee
  • Never give out your social security number
  • Make sure the applicant fits ALL the scholarship criteria
  • Maintain a decent GPA
  • Develop interests and talents into specific activities
  • Be sure to get letters of recommendation
    • Employers
    • Teachers
    • Clubs Advisor
work study
WORK STUDY
  • Available for undergraduate and graduate students
  • Pay is usually at least minimum wage
  • Most employment is on campus
  • Colleges try to work around student schedule
educational opportunities and the military
EDUCATIONAL OPPORTUNITIES AND THE MILITARY
  • Available during and after military service
  • See your local recruiter or Veteran Coordinator at your college for more details
how to apply f a f s a
How To Apply: F A F S A
  • Free Application for Federal Student Aid
  • FAFSA On The Web
    • www.fafsa.ed.gov
    • Highly recommend for speed and accuracy
  • Paper Version & Special Needs Assistance
    • Department of Education (800) 433-3243
how to apply f a f s a1
How To Apply: F A F S A
  • Must be completed annually
    • When taxes are filed complete the FAFSA
    • Available January 1
  • Each student and parent attending college needs a separate FAFSA
pin numbers
PIN NUMBERS
  • Used to sign FAFSA on the web
  • Each student and one parent need a pin
    • Parents will receive one pin to be used for all their students and for their own FAFSA should they attend college
  • Speeds process time
  • Apply for the pin numbers now
    • www.pin.ed.gov
required information
REQUIRED INFORMATION
  • Demographic info including:
    • Social security number(s)
    • Student Income
    • Parent Income
    • Untaxed Income
    • Investments information
    • School choices
most common fafsa questions
MOST COMMON FAFSA QUESTIONS
  • Which Parent Income Do I Use?
    • Both parents if married or
    • Parent & step parent (if remarried) or
    • Parent that student lived with the most during 12 months prior to filing FAFSA
  • What If Parents Who Filed Taxes Jointly Are Now Divorced Or Separated?
    • Use only the income from the parent that student lived with the most during 12 months prior to filing FAFSA; be sure to include child support if received
most common fafsa questions1
MOST COMMON FAFSA QUESTIONS
  • Who Is Included As a Member Of The Household?
    • Your parents and yourself
    • Anyone you or your parents' support more than 50%
  • Can I List More Than One School?
    • You may list ten (10) schools on the

FAFSA

most common fafsa errors
MOST COMMON FAFSA ERRORS
  • Leaving items blank
    • Review instructions and note sections on the FAFSA
    • Worksheet available @ MCC Financial Aid Office and Online
  • Forgetting to sign and mail a signature page if a pin was not used to sign online.
    • Signature page must include all necessary signatures.
    • Signature page must be mailed to the DOE.
  • Incorrect information.
    • TAX INFO-Double check your tax information and be sure to pull from the correct line item.
    • DEPENDENCY STATUS QUESTIONS- must have documentation
what happens after i file the fafsa
WHAT HAPPENS AFTER I FILE THE FAFSA
  • You will receive a Student Aid Report via email or US mail. This will include an EFC from the Dept of Education.
  • Schools listed on your FAFSA will then request additional information. It is critical the requested information is returned ASAP!
  • The financial aid office will send you an award notification detailing your eligibility.
cost of attendance
COST OF ATTENDANCE
  • Tuition and fees
  • Room and board
  • Books and supplies
  • Transportation costs
  • Miscellaneous personal expenses
  • Loan fees
definition of need
DEFINITION OF NEED

COST OF ATTENDANCE (COA)

-

EXPECTED FAMILY CONTRIBUTION (EFC)

= FINANCIAL NEED

education tax credits
EDUCATION TAX CREDITS
  • American Opportunity Tax Credit
    • tutorial available at www.youtube.com
    • Go to www.irs.gov/individuals/students
fafsa completion workshop
FAFSA COMPLETION WORKSHOP
  • Date: Watch our Website
    • www.McHenry.edu
    • 3rd Thursday in February in prior years
    • MCC Software Conversion
  • Complete the FAFSA online at MCC
  • Open to students attending any college
  • Must bring:
    • 2009 Federal income tax forms
    • Social Security Cards(s)
    • Untaxed income/Asset Information
mchenry county college1
MCHENRY COUNTY COLLEGE
  • We are your community college – please use us as a resource.
  • Even if you are attending another college, please contact us with any financial aid questions
  • Website: www.mchenry.edu
  • Office Hours:
    • Mon-Thurs…….8:00 am – 7:30 pm
    • Friday…………..8:00 am – 4:30 pm
    • Saturday………..8:00 am – 1:00 pm
questions
QUESTIONS

THANK YOU FOR COMING!

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