Financial Aid 101 Trina SmithPatterson Tarrant County College

Financial Aid 101 Trina Smith-Patterson Tarrant County College Northwest Campus fahelp@tccd. edu

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

Who Can Get Financial Aid? General Eligibility Requirements: • Have a H. S. Diploma or GED • U. S. Citizen or Eligible Non-Citizen • Register for Selective Service (Male Students) • Maintain Satisfactory Academic Progress • Enroll in an eligible degree or certificate program • Enroll at least 6 hours (for most programs) • Maintain Satisfactory Academic Progress (SAP)

Getting ready • FSA ID ~ Electronic Signature o o ~ Student Parent Cannot use same phone number or email • Parents with no SSN ~ Not eligible to create FSA ID ~ Print, sign, and mail signature page

Application Process FAFSA. GOV • Free Application for Federal Student Aid • DO NOT PAY • Annual Process ~ Available each October 1 st for the following Fall semester

IRS Data Retrieval Tool • Not a requirement BUT • Imports processed tax information directly from IRS website ~ Decreased errors • Minimizes documentation the school may request

FSA App • Cannot renew • IRS Data Retrieval Tool option unavailable

Senate Bill 1528 Students Undocumented Students • Not eligible for Federal Financial Aid • May be eligible for State Grants ~ Complete Paper TASFA ~ Submit to Financial Aid Office along with other required documents

How Aid is calculated The Financial Aid Office uses the following formula to determine eligibility: Cost of Attendance -Estimated Family Contribution (from SAR) Financial Need COA: Tuition Books Living Allowance Transportation Personal Expenses Additional Expenses when applicable EFC: Determined by Federal Processor from info provided on FAFSA

Financial Aid Programs Gift Aid: Funds that do not have to be repaid • Federal Pell Grant • Federal SEOG • State Grants ~ TPEG ~ TEOG ~ TEXAS Grant (4 year schools only) o Deadline: January 15 th • Scholarships ~ ~ ~ NEVER pay money to apply for scholarships Stars of Tomorrow (TCC Only) www. tccd. edu/scholarships Employers (student & parent) www. fastweb. com

Up to $4, 000 over a maximum of six semesters 12+ semester hours, $800 9 -11 Semester hours, $600 6 -8 semester hours, $400 To qualify for the Stars of Tomorrow program, students are required to: 1. 2. 3. Apply for Admission at TCCD Apply for Free Application for Student Aid Meet Stars of Tomorrow program requirements • Be a resident of Tarrant County for tuition purposes • Have graduated and attended school within one year of graduation • • Graduate Recommended in the top 50 percent of any public or private high school or Distinguished or be exempt from Texas Success Initiative (TSI). Meet the following family income thresholds (as reported on the FAFSA) No. in Household Family Income 4. 1 2 3 4 5 6 7 8 $38, 000 $67, 000 $72, 000 $77, 000 $82, 000 $87, 000 $92, 000 $97, 000 Complete a Stars of Tomorrow orientation session (if chosen as a recipient)

Financial Aid Programs Self-Help: Must be repaid or earned • Federal and State College Work-study • Federal Loans ~ Subsidized loans o Deferred interested while enrolled in 6+ hours o based on financial need ~ Unsubsidized loans o no deferred interest, o not need based

FAFSA Dependency Status If any of the following criteria applies, the student is considered independent: ü ü ü ü 24 years or older Married Children they financially support In foster care since turning the age of 13 Emancipated minor Currently or was in legal guardianship Homeless or self-supporting AND at risk of being homeless Veteran or serving ACTIVE duty in U. S. Armed Force

Special Circumstances • Examples ~ Parents are incarcerated ~ Student left home due to an abusive family environment ~ Student is unaware of parent/s whereabouts • Must be well documented • Visit the financial aid office for more information

Deadlines You may file your FAFSA at anytime, BUT Institutions will publish a Priority Deadline • Differs per Institution • Institutional Aid, Limited funding programs TX State Grant Programs • Priority deadline is January 15 th

Know Your Limits Pell • 12 Full-time Semesters • 6 Years of Study Loans • Aggregate Limits$23, 000 Subsidized • >150% timeframe, subsidy is lost • No Subsidized Loans for graduate students Repeated Classes • ONLY pay once for previous passed classes (A, B, C, D) Maximum Timeframe • 90 Attempted Hours (Associates Degree) • 48 Attempted Hours (Certificate Program) • 150%

Maintaining Eligibility Satisfactory Academic Progress (SAP) • • All students ~ Must complete 67% of ALL hours attempted ~ Must have a cumulative GPA of 2. 0 ~ Complete their program within 150% of published program length Appeal policy for Ineligible students ~ Not required ~ Policy varies by institution

Important Information! Apply Early Apply Annually Check your student Email Submit Required Documentation Report changes of Income (loss of job or benefits) ü Attend Class ü Stop Before You Drop ü ü ü

For More Information Contact Financial Aid • (817) 515 -4243 • www. tccd. edu/finaid • www. tccd. edu/scholarships