Your Logo Here FINANCIAL AID 101 Trina SmithPatterson

Your Logo Here FINANCIAL AID 101 Trina Smith-Patterson Director, Financial Aid Tarrant County College NW Fahelp@tccd. edu www. tccd. edu 1/7/2022 1

What is Financial Aid? ? l Financial aid is money provided by the federal government, states, institutions and other sources to help students pay for college l This can consists of different programs l l l Grants Loans Scholarships Work-Study Programs Stipends Fellowships 2

Who is Eligible for Financial Aid? l General Eligibility Requirements: l l 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 l General Eligibility Requirements cont: l l 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

Application Process… l Every Financial Aid Program begins with the FAFSA l l Free Application for Federal Student Aid Do not pay to process this free application The student completes the FAFSA at www. fafsa. gov l Annual Process l l FAFSA available in January each year for the Fall semester 1/7/2022 4

Not ready to fill out the FAFSA? . . . l 1/7/2022 FAFSA 4 Caster l http: //www. fafsa 4 caster. ed. gov l Provides general info on the FAFSA l Gives an early estimate of eligibility l Gives “estimated” financial aid packages l Allows student to transfer information to actual FAFSA l Populates certain fields on actual FAFSA 5

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

What happens next? ? ? 1. 2. 3. 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

Understanding What We Do… l l The Financial Aid Office uses the following formula to determine eligibility: Calculate the Need: - l 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

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

Financial Aid Programs l Gift Aid: l Funds that do not have to be repaid l l l l l 1/7/2022 Federal Pell Grant (EFC 0 -- 4617) l 26. 2 Million awarded 08 -09 l 49. 6 Million awarded 09 -10 Academic Competitive Grant (EFC 0 -- 4617) l Must be in Recommended or Advance High School Program l Only Available the first two years of Academic study Federal SEOG (EFC 0 -- 4617) TEXAS Grant l 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 10

Aid Programs Continued l l Self-Help: Must be repaid or must work for funds l l l 1/7/2022 Federal and State College Work-study l Allows students to work on or off-campus Federal Subsidized Stafford and Unsubsidized Loans Alternative Loan Programs l Not recommended by many Financial Aid Offices l Higher interest rate l Based on Credit report 11

Top 10% Scholarship l l Initial Eligibility Requirements l Be a Texas resident l Demonstrate financial need l Apply for Financial Aid by April 1 l Recommended or Distinguished Achievement HS curriculum l Rank in the top 10 percent l Graduate from an accredited high school in Texas l Enroll fulltime in a Texas public 2 -year or 4 -year college or university in fall 2009 Renewal Requirements (contingent upon available funding) l Complete 30 semester credit hours (SCH) in the previous year l Maintain cumulative 3. 25 GPA l Complete at least 75% of hours attempted 1/7/2022 12

Be-On-Time Loan…? ? ? l Initial Eligibility Requirements l Be a Texas resident l Recommended or Distinguished Achievement HS curriculum l Be enrolled Fulltime l Not eligible to receive TEXAS grant due to higher EFC or School has exhausted all TEXAS grant funds 1/7/2022 13

Satisfactory Academic Progress l All Schools are required l to have a policy Policy must define: l l l l 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

What should students avoid? l Withdrawing before the Official Date of Record l l Financial aid is prorated based on the number of hours enrolled as of census date l 100% for 12+; 75% for 9 -11; 50% for 6 -8 and 25% for 3 -5 l If student drops a class before ODR, will have to repay funds l Dropping even 1 class may result in owing funds Dropping all classes before completing 60% of semester l l l 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 l 1/7/2022 We monitor GPA by semester as well as cumulative 15

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