Howard Community College Financial Aid Services

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Gift Aid

Grants Scholarships

Self-Help Aid

Work Study Loans 2

Federal State Institutional Private 3

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Books & Supplies Tuition & Fees Transportation Room & Board

COA

Miscellaneous Expenses

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  What is it?

Assigns a “number” based on financial situation that the family can “expect” to contribute to the student’s COA  It is calculated according to a formula established by federal law and does NOT change based on institution attending   How is it calculated?

Information the family reports on the student’s Free Application for Federal Student Aid (FAFSA)  Looks at family's taxed and untaxed income, assets, benefits , family size and number in college 6

Student must:  be a U.S. Citizen or Eligible Non-Citizen  have a valid Social Security Number  demonstrate you are qualified to enroll in postsecondary education (e.g. have a high school diploma or GED)  be enrolled in an eligible degree program  not be in default on any Federal Student Loan  register with Selective Service if you are a male between the ages of 18 and 25  certify that you will use federal student aid for educational purposes  maintain Satisfactory Academic Progress  Note: Other conditions may apply 7

What you will need: 1.

Your social security number 2.

Your federal student aid pin 3.

Your financial records 4.

An email address 5.

About an hour of your time 8

 Students and Parents must apply for a PIN  The PIN serves as a valid electronic signature  Don’t leave any questions blank  Complete all questions as accurately as possible  March 1 st is the priority filing date for many sources  You can use your estimated tax information if you and your parents have not yet filed your taxes  Be sure to sign it with both PINs and hit the submit button 9

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 You will receive a Student Aid Report (SAR)  It will contain your Expected Family Contribution (EFC)  The schools that you list on the FAFSA will receive the information electronically  Financial Aid Offices will process your application  If you need to submit additional documents, follow up immediately or it will delay the process  You will receive notification of your financial aid eligibility 11

Grants

 PELL Grant

(up to $5,730/year)

 Supplemental Education Opportunity Grant (SEOG)

(up to $4,000/year)

Work Study

 Need based award provides funds earned through part-time employment on and off campus

(earn up to $3,000/year)

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Stafford Student Loan

 Subsidized Stafford Loans (Need Based)  Government pays the interest while enrolled in college at least half time or until graduation.

 Unsubsidized Stafford Loans  Student is responsible for paying all of the interest on the loan (even though payments not required until 6 months after graduation or enrolled less than half time)

Parent PLUS

 Ability to choose to defer payment while dependent child is in school.

 Up to Cost of Attendance (COA) less other aid received 13

Grants and Scholarships

 Maryland Higher Education Commission (MHEC) administers over 20 programs for the State of MD   Parent and student must be a Maryland State Resident Some programs require an additional application available on MHEC’s website ( www.mhec.state.md.us

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Examples of State Aid Need-based (file the FAFSA by March 1 st

each year):  Educational Assistance Grant (up to $3,000 /year)  Guaranteed Access Grant (up to $14,300/year)  Legislative:  Senatorial (range from $200-$9,000/year)  Part-Time Grant (up to $2,000/year) Delegate (range from $200-$9,000/year) 14

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 Grants  Grants from the institution based on need  Work Study  Institutional Work Study  Scholarships  Awarded by the institution based on various criteria  Financial Need  Academic Merit  Learning Program  Special Skills or Talents  Volunteer Experience ** PAY CLOSE ATTENTION TO DEADLINES ** 17

 Financial aid funding that comes from private organizations  Civic Organizations  Professional Associations  Private Businesses  Funds may or may not be awarded through Financial Aid Services  Use reliable scholarship search services  http://www.fastweb.com

 http://www.collegeboard.com/student/pay  http://www.finaid.org

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 Cash, Check or Money Order  Tuition Payment Plans  529 Savings & Prepaid Tuition Programs  Employer Tuition Reimbursement Plan  Military Tuition Assistance  Veterans Benefits and Veterans Deferred Payment Plan  Tuition Waivers  Alternative Loans 19

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Howard Community College’s Financial Aid Services Department – community resource

 RCF – 222  HCC’s Financial Aid website

Publications

 The Guide to Federal Student Aid  Maryland Higher Education Commission

Other websites that end in:

 gov  ed  edu 20

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Located in RCF- 222 Phone: 443-518-1260 Fax: 443-518-4576 E-Mail: [email protected]

Webpage:

 Go to www.howardcc.edu

 Select “Admissions & Enrollment” tab  Click on “Pay for College”  Select “Financial Aid Services” on the left column 21